To explore the application of cold-formed thin-walled steel-paper straw board(CTSPSB) composite wall in practical engineering and further meet people’s living requirements, it was proposed to open holes in the composite wall to simulate the doors and windows in practical applications. Two composite wall specimens were tested to study the shear performance of the CTSPSB composite wall. Through the analysis of specimens’ damage forms and experimental data, the characteristic values of bearing capacity and lateral stiffness were obtained. And then, the model of the composite wall was built by ANSYS, and finite element analysis (FEA) results were consistent with the experimental results, which could verify the feasibility of the finite element model. Moreover, the model needed to open holes and extensive parameter analysis was carried out. The FEA results indicate the most reasonable distance between screws around the opening is 150 mm; the most suitable spacing between the small studs is 400 mm; the position of the opening has the least influence on the shear performance, and the difference between the results of the five groups of models is within 5%; while the width of the opening has the greatest impact on the shear performance. Compared with the wall without opening, the bearing capacity of the wall with an opening width of 600 mm, 1200 mm and 1800 mm decreases by 38%, 46% and 52% respectively. Besides, the calculation formula of shear capacity of CTSPSB composite wall with openings was improved, which could be used as experience for practical engineering.