The putty for surface leveling of interior and exterior wall tends to have quality problems such as dusting, crusting, cracking and shedding. There are higher requirements on the putty for exterior wall, such as waterproofing, weatherability, crack resistance, etc. Cellulose ether with high gelation temperature and high water retention rate can effectively prevent crusting and relieve cracking. In addition to increasing the adhesive force with the substrate, redispersible polymer powder also enhances the cohesive force of the putty layer, thus preventing dusting and enhancing abrasion resistance of the putty (in putty for interior wall, modified starch and polyvinyl alcohol can be used to replace the redispersible polymer powder) . The joint use of redispersible polymer powder and wood fiber can significantly improve the crack resistance of putty. Starch ether or rheological additives can prevent the sagging of putty and improve its workability. To enhance waterproofing, powdery water repellent or hydrophobic polymer powder can be used.