China and LAC States（Latin America and the Caribbean），on their way adjusting diplomatic strategies，have reached the consensus of strengthening the comprehensive，pragmatic cooperation. With their common interests and strategic needs increasing at the multilateral level，overall cooperation has become the new concern and focus in their policy to each other. The 1st Ministerial Meeting of the China-CELAC Forum marked the formal entry of bilateral overall cooperation into the phase of institutionalization and opened up a new era of friendly cooperation between the two sides. This paper analyzes the rationality and feasibility of the China-LAC overall cooperation. It argues that the new mechanism is an inevitable choice for both sides resulting from self-improvement consciousness，mutual dependence and promotion in the tide of global governance. The forming of the mechanism is a natural process with the evolution of bilateral relationship. It is externally promoted by the new trends of South-South Cooperation and cross-regional cooperation，and internally by the common needs of economic restructuring. According to the outcome documents which were passed in Chinese President Xi Jinping’s meeting with the LAC leaders and the 1st Ministerial Meeting of the China-CELAC Forum，this paper points out that the new mechanism aims to achieve Five-in-One comprehensive cooperation between the two sides. The five basic principles that should be followed are：first，to adhere to the principle of equality and mutual aid so as to strengthen mutual political trust；second，to adhere to the principle of mutual benefit and win-win to upgrade bilateral economic and trade cooperation；third，to strengthen mutual exchanges and learning to promote public diplomacy；fourth，to adhere to international cooperation in order to safeguard common interests；fifth，to adhere to overall cooperation and promote the China-LAC relations. The paper also focuses on the difficulties and obstacles facing the overall cooperation. It stresses that both sides should deal with the complex geopolitical situation in LAC，varied cooperative attitudes of LAC countries towards China，complex regional business environment，as well as subtle factors in making contact with the countries that do not have diplomatic relations with China. In conclusion，this paper believes that，in order to ensure the vitality and effectiveness of the overall cooperation mechanism，three paths should be realized in the short term：first，to build the economic and trade “engines” driving the China-LAC relations；second，to diversify channels of public diplomacy；third，to strengthen ties with regional，sub-regional organizations and specific countries，so as to effectively support the new mechanism.