In the 19th CPC National Congress convened in 2017, Chairman Xi Jinping pointed out again that “we must fight hard in the battle of preventing and addressing the major risks in which the key is to prevent financial risk, including preventing systematic financial crisis from happening and guarding against external impact incurred by international financial crisis contagion.” The economy and financial system in some countries are still haunted by the international financial crisis which was derived from the 2007 U.S. sub-prime crisis. Moreover, the sixth round of U.S. interest hike cycle starting from the end of 2015 and the outbreak of the China-U.S. trade war in March,2018 brought about greater pressure and opportunity to Chinese economy. This paper, by dwelling on the backdrop of sub-prime crisis, employed MIMIC model to measure the pressure incurred by American financial crisis from 2005-2016, and identified three sources of pressure, namely, growth rate of foreign exchange reserves, export growth rate and overvaluation of real effective exchange rate. The paper then analyzed the fundamental cause and offered countermeasures and lessons on how China should prevent and address the major risks.