Shanghai-Hongkong Unicom is not only establishing the interconnection mechanism for stock market transactions of Shanghai and Hong Kong，it is actually an important link in the national strategy of RMB internationalization. How is macro-risks related to Shanghai-Hongkong Unicom，what is the impact on the construction of Shanghai international financial center，is the important issue of great concern to all walks of life. This report thinks，Shanghai-Hongkong Unicom trading mechanism takes rigorous “closed operation” mode and the relatively small transaction scale limit，with the macroscopic risk controllable in capital flows，exchange rate fluctuations，A stock pricing power control and overseas financial risk conduction and other related. The launch of Shanghai-Hongkong Unicom is beneficial to the expansion of the Shanghai stock market scale，enhance Shanghai stock market function and development of Shanghai financial market system，and will also have a very active role on the construction of Shanghai international financial center. Also，Shanghai-Hongkong Unicom，capital market and foreign exchange market，will jointly promote RMB internationalization process，which also helps to improve the international influence of Shanghai financial center，and promote the upgrading of the development of Shanghai international financial center.