Research on the Construction of China-ASEAN Free Trade Area 3.0 Version Based on RCEP

China-ASEAN Free Trade Area is in a critical period of development. After the implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP), higher requirements have been put forward for the construction of the China-ASEAN Free Trade Area. To a certain extent, it can promote the China-ASEAN Free Trade Area to break through the bottleneck and upgrade the construction, and provide new momentum for in-depth regional cooperation. At present, there are still some problems in the development of China-ASEAN Free Trade Area. There are continuous disputes in Southeast Asia and more frictions and contradictions. There are great differences in interest demands and similar economic and trade structures; the financial cooperation mechanism is backward, and the development of monetary integration is hindered. In order to promote the upgrading and construction of the free trade area, in response to these problems, the China-ASEAN Free Trade Area should clarify its dominance and create a core economic force and coordination mechanism; optimize integration and build supply chain resilience of production chain; with the help of the "Belt and Road" opportunity, break through the upgrading bottleneck; promote RMB regionalization, deepen financial cooperation reform and other development proposals.