Based on political consideration and economic complementarity，China and Mongolia are negotiating to connect China’s “the Belt and Road” with “the Steppe Road” raised by Mongolia. The signed documents which represent common will and Sino-Russia-Mongolia Economic Corridor are crucial policy foundations of the strategic link between the two states. So far，with Mongolia’s support and China’s active promotion，the two sides are working together to achieve multi-field connection and cooperation，including industry and investment，traffic and infrastructure construction，trade and finance，science and technology and humanities exchanges. However，this connection and cooperation is confronted with challenges from Mongolia due to a single industry structure，political risk，undeveloped infrastructure，western intervention and even from China’s problems in investment and management. In the future，both sides should enhance strategic mutual trust，improve environment and fields for connection and cooperation，boost the development of regional economic cooperation zones，as well as promote non-governmental contacts and cultural exchanges in all levels.