Venezuela, one of China's important Latin American partners, now is standing at the edge of crash due to oil price fall and hyperinflation. ANBOUND senior researcher He Jun analyzes the problem from China’s significant economic interest, he points out that the worsening risks of economy and politics in Venezuela will unavoidably affect China’s interest. China thus need to comprehensively and objectively value the risks in advance, prepare strategic options. Venezuela of course is China’s strategic partner, however, China will avoid making it a gambling.