In the context of economic integration in Asia-pacific region, China may lead the negotiation of RCEP. In general, trade liberalization level of RCEP may not be comparable to TPP in the respect of trade in goods, trade in services, SOE and competition, but RCEP may meet the requirement of economic development level and stage of participating countries. RCEP may have positive impact in the respect of market access and geopolitics, and ASEAN countries may play significant role in the RCEP negotiation. As the 2nd largest economy, China may dominate the RCEP negotiation so as to play active role in the formation of international trade rules.