Based on co-integration theory, Granger causality test and EKC hypothesis, this paper analyzes the environmental risk behind utilization of FDI for economic development in Anhui Province. The results show that: whether in long-term or short-term, while the impact of FDI on the discharge of industrial wastewater is not obvious, FDI causes a significant increase in industrial emissions and industrial solid waste, which depends largely on the industrial distribution of FDI in Anhui Province. Furthermore, there is no strict "inverted U" EKC in Anhui Province, industrial emissions and industrial solid waste fail to reduce with the economic growth, and relationship between industrial wastewater discharge and economic growth presents a "U+ inverted U" type because of the productive curb. Finally, inflow of foreign capital making Anhui Province more lasting in the rising segment of EKC.