Connection and luggage with transfer T2 and T3

I have booked a flight arriving at 8.55AM at Terminal 2 (operated by KLM), my connection to Chongqing will be at 12.00 from T3 (Air China). I suppose there's sufficient time for the transfer? And do I have to collect my Luggage at T2 and check in again at T3 for Air China?
Many thanks, Roel, The Netherlands