This paper uses ESI and G-L indexes to analyze the foreign trade competitiveness and complementarity of China and other RCEP countries from 2005 to 2019. Moreover, an expanded trade gravity model is constructed to empirically analyze the influencing factors and trade potential between China and RCEP partners. The results show that:the trade competitiveness and complementarity between China and RCEP countries are reflected in different product fields, and there are great differences among countries;the economic scale of China and its partner countries, the distance between their capitals, the ratio of the population of both sides, the openness of the partner countries, and whether the two sides sign FTA and border all affect the bilateral trade flow to different degrees;the trade potential coefficient between China and RCEP countries fluctuates slightly around 1, indicating that there is still room to release the potential. In view of this, this paper puts forward policy suggestions on how to further deepen economic and trade cooperation between China and RCEP countries and enhance bilateral trade potential.