Objective To establish a method to derive the acceptable exposure levels of hazard factors from food contact materials, to assess the theoretical exposure levels and potential health risks of five metal elements released from stainless-steel products for food contact, and to evaluate the suitability of the current National Standard of Food Safety in China. Methods With reference to the international allocation principles of acceptable exposure levels of chemical contaminants from drinking-water, the metal elements from metal products, and the contaminants from food contact materials, the acceptable exposure levels of metal elements from stainless-steel products in China were determined by considering both the dietary exposure levels and the toxicology data of the metal elements. Based on the specific migration limits (SML) of lead, cadmium, arsenic, chromium, and nickel in the National Standard of Food Safety: Metal Materials and Articles for Food Contact (GB 4806.9-2016), the exposure levels of the five metal elements were theoretically estimated, assuming 1 kg food in stainless-steel products was consumed by each person per day. The health risks of metal elements from stainless-steel products were assessed based on the derived acceptable exposure levels. Results Acceptable exposure levels for lead, cadmium, arsenic, chromium, and nickel from stainless-steel products are 0.06 (lead for children), 0.13 (lead for adults), 0.08, 0.30, 60, and 2.40 μg/kg bw, respectively. The theoretical exposure levels for lead and arsenic from stainless-steel products for food contact were 2.5 (lead for children), 0.83 (lead for adults), and 0.67 μg/kg bw, with margins of exposure (MOE) of 0.02 (lead for children), 0.16 (lead for adults), and 0.45, respectively. The theoretical exposure levels for cadmium, chromium, and nickel were 0.33, 33.33, and 8.33 μg/kg bw, which were 400.12%, 55.56%, and 347.22% of the acceptable exposure levels, respectively. Conclusion Under the current standard in China and based on the results of theoretical exposure, the health risk from the release of chromium was low, while the health risks from the release of cadmium, nickel, lead, and arsenic were relatively high. Therefore, it is recommended to perform risk assessment based on the actual migration levels, so as to provide scientific basis for whether or not to revise the current standard (GB 4806.9-2016).