In the 2 1 century, with the deepening of financial globalization, the convertibility of RMB capital is not only the goal of China's foreign exchange management system reform, but also the inevitable choice for China's further integration into the world economy and further opening up, which is of positive significance to promoting China's economic development. However, if the conditions are ripe and the capital market of a country with great risks is completely liberalized, it may bring disastrous consequences. At present, there are still many shortcomings in China's economic and financial situation, such as serious capital flight, rapid growth of short-term foreign debt, low marketization of interest rates and exchange rates, imperfect financial operation and supervision system, and so on. Opening capital projects rashly will make China take risks. Therefore, how to prevent and reduce the risks that China's capital projects may face in the process of opening up is a realistic issue related to China's economic development. Based on the current situation of China's capital account opening, this paper analyzes in detail the possible risk factors in the process of promoting the opening of RMB capital account, and finally puts forward some suggestions for the risk avoidance of China's capital account opening.