ANBOUND research team believes that the US Fed will inevitably raise its interest rate in the first half of 2015 in the wake of the US economic recovery. Under this circumstance, we have to face squarely this round of upward cycle of the US interest rate. The anticipation of the Fed's interest rate hike will attract capitals back into the US and bring a stronger US dollar, which will cause tremendous shocks to international financial market, especially to those emerging markets. Therefore, something must be done in advance to respond to this new trend. In terms of China, we should adjust our policies properly. If better taking advantage of "China's market", we can possibly make China an exception to those other emerging markets.