Working capital financing strategy is an important part of enterprise financial decision-making，but until now little is discussed about the choice of working capital financing strategy in China in academic research.By means of mathematical analysis, this paper explores the relationship among operational risk， monetary policy and the financing strategy of enterprise working capital, and conducts an empirical test.The study finds that under the influence of our country’s financing environment, Chinese enterprises mostly adopt radical financing strategy of working capital. The increase of operational risk makes the enterprise inclined to adopt the steady financing strategy of working capital， while loose monetary policy induces firms to adopt more aggressive financing strategies. Under the condition of loose monetary policies, the sound effect of operating risk on working capital financing strategy will be weakened.