After the Cold War, the EU adapted a new strategy toward Asia. In 1995, the EU adapted the white paper policy — “A Long Term Policy For China-Europe Relations”. ASEM, founded in 1996, provided a platform for direct interactions between EU-China. In the new situation of the world, ASEM is creating a third line of interaction between EU and China. The key discussion of this paper will be focused on the roles that EU consists of 27 countries and China play in ASEM and the future development between these two powers. Under globalization and regionalization, this article will approach the international regime issues concerning the interactions between EU and China in ASEM from a power-based, interest-based and knowledge-based perspective.