Abstract: The paper puts forward the debates of whether hot money has flowed into China accompanied with its opening to the outside world policy & whether China has the potential risks of suffering a capital flight in the near future. Four commonly-accepted measures are introduced to estimate the scale of capital flight in China in the past decade, further positive study of the paper shows its transmission mechanism & concludes the trends of capital flight in China is worth attach more importance, a pre-alarm and quick-response system should be established.