Cultural-creative industries have the following characters:less hard assets,more soft assets and bigger investment and financing risk.Based on the above character,this paper analyzes all the risk factors influence investment and financing risk,including technology risk,management risk,credit risk,market risk and financial risk.Using SEM method,this paper tests the mechanism between risk factors and investment and financing risk.The results indicate that technology risk and management risk are the core factors affecting investment and financing risk.Furthermore,countermeasures are given to promote the development of Cultural-creative industries.