Based on settlementation control design, CFG pile-raft composite foundation was used in the Shanghai-Nanjing intercity railway embankment test. To explore the settlement control mechanism and bearing characteristics of the CFG pile-raft composite foundation，embankment settlement, pile-soil stress distribution and the dissipation of excess pore water pressure were observed to obtain data through field testing. Composite foundation settlement, lateral deformation of subgrade soil， pile-soil stress distribution along the lateral base and excess pore water pressure changes with time under embankment were analyzed. The change pattern of pile-soil stress ratio and load sharing ratio were studied. Field test results provide the experimental basis for the further theoretical studies and optimized practial design of the soft foundation treatment in the CFG pile - raft structure in the high-speed railway project.