This　paper　presents　an　experimental　investigation　of　self-piercing　riveted　cold-formed　steel　(SPRCFS)　shear　walls　with　openings　under　monotonic　and　reversed　cyclic　loading.　The　effects　of　loading　method　and　wall＇s　openings　ratio　on　the　behavior　and　failure　modes　of　SPRCFS　shear　walls　were　studied.　Based　on　the　test　results　researched,　the　damage　levels　of　intact,　slight,　moderate,　and　severe　were　defined.　The　story　drift　angles　under　different　damage　levels　were　also　determined.　The　existing　shear　wall　design　methods　were　analyzed　for　their　feasibility　on　the　shear　strength　of　SPRCFS　shear　walls　with　openings　and　a　new　design　method　for　SPRCFS　shear　walls　with　openings　was　proposed.　The　research　indicated　that　the　major　failure　modes　of　SPRCFS　shear　walls　with　openings　were　in　the　sheet　buckling　and　SPR　connections　failure　at　the　edge　of　openings.　The　shear　strength　and　stiffness　decreased　with　the　increase　of　opening＇s　ratio,　and　the　strength　reduction　can　be　neglected　by　reinforcing　construction　measures　when　the　openings　ratio　is　less　than　5.6%.　Wall　openings　can　effectively　improve　ductility　of　walls,　but　it　also　can　cause　the　decrease　of　ductility　when　openings　ratio　is　over　38.9%.　1/300　rad　was　suggested　as　the　elastic　story　drift　angle　for　wind　loads　and　1/100　rad　was　recommended　to　be　the　elastic-plastic　story　drift　angle　for　seismic　loads.