QE withdrawal by the U.S. Federal Reserve has been confirmed; it will have complicated impact towards the global economy and will change the fundamental of global monetary environment. The emerging economies should cautiously respond to the economic changes post QE era. ANBOUND research team believes that the QE withdrawal has limited influence towards the Chinese economy. The QE withdrawal is expected to improve overseas market demand and reduce the pressure of RMB appreciation. The situation is likely to reverse persistent influx of foreign exchange and challenge the supply of monetary base. However, the overall capital condition still depends on central bank's action.