Recent experimental data on gravitational time dilation suggests that general relativity may not be correct as a gravitational theory. Rather, gravity is a quantum effect caused by the variation of the speed of light. That is the reason why gravity affects all particles, massive or massless. It is different from the other three basic forces of nature which are created by exchanging virtual particles through boson fields. The new theory can explain light bending near massive objects as well as the abnormal orbit precession of Mercury. It shows that Newton's gravitational theory is only an approximation.