The underlying Silk Road culture of “the Belt and Road”（B&R）initiative is a common memory and cultural symbol of both the East and the West. In addition to their historical connection and geographical advantages，the B&R initiative proposed by the Chinese government provides renewed impetus for the development of European and Macao’s cultural and creative industries（CCI）. Under the current wave of CCI-driven global economic development and regional cooperation，an important topic of knowledge-based economic globalization is how to coordinate the relationship between CCI and creativity，digitalization and diversification. The paper introduces and explores two aspects of the opportunities and challenges Europe and Macao are facing in CCI development. The first part focuses on the core concepts of CCI. The second part analyzes the value embodiment of CCI and its power to drive economic growth in the knowledge economy era from the aspects of cultural creativity and new technology. And the third part discusses the opportunities and challenges in the globalization of CCI from the perspective of globalization and cultural discontinuity.