For top 10, it makes no difference to apply in R1 or R2 for applicants from China Mainland. Since you will take GMAT just before Xmas, do make sure you have enough time working on your package, especially essays. The number of applicants will continue to surge this year, so rushing through the application process definitely doesn't work on your edge.
I can't speak for other schools, but at Wharton, it makes no difference whether you apply R1 or R2. Our schools uses the waitlist in both rounds to ensure that the quality of applicant is constant. So definitely apply in R2 if you feel ready!