This study analyzes the feasibility of the use of cross-laminated timber (CLT) as a load-bearing structural element in a 40-story building based on Chinese design requirements. The proposed design of the high-rise concrete–CLT building utilizes the core–outrigger system. Concrete is used for the central core and outriggers, and CLT is used for the rest of the structure of the building. Finite element models with different types of connections were developed using SAP2000 to analyze the lateral behavior of the building under wind action. The finite element models with rigid connections deduce the wind load distributions on individual structural elements, which determine the total number and the stiffness of fasteners of the CLT panels. Accordingly, spring links with equivalent stiffness that simulate the mechanical fasteners were employed in SAP2000. The results indicate that CLT increases the lateral flexibility of the building. A closed concrete core was substituted by two half cores to measure the requirement of the maximum lateral deflection. However, the acceleration at the building top still exceeded the limitation prescribed in Chinese Code JGJ 3–2010 owing to the lightweight of CLT and decreased stiffness of the hybrid building. To restrict this top acceleration within the limit, further approaches to increase the stiffness in the weak direction of the building are required. Methods such as the modification of the floor layout, increase in the thickness of walls, and addition of extra damping capacity should be considered and verified in the future.