After the end of Cold War, China and ASEAN develop new international development strategies. China¡¦s new guiding principle of diplomacy is ¡§peace and development¡¨, and ASEAN hope to establish a multipolar world system through ¡§equidistant diplomacy¡¨ and regional economic integration. Due to the new international development strategies, China and ASEAN open the new cooperation opportunities, namely Mekong Subregion Cooperation, which concentrates on some functional sectors, such as transportation fundamental construction, investment, trade, agriculture and tourism sectors. With the effects of ¡§ramification¡¨, the functional cooperation is good in progress. This in turn pushes the interactions between China and ASEAN gradually ¡§spill-over¡¨ to political and security aspects which eventually make the ¡§East Asian Community¡¨ possible.