The reform of the electricity market in China has made market participants more active. This has posed a series of challenges for power system planning where there is a high penetration of renewable energy. This paper proposes a price-driven bi-level model for transmission expansion planning. At the upper level, the investment and operation cost of the transmission system is comprehensively considered. At the lower level, a market clearing model is established, i.e., the energy and reserve markets. Local marginal and reserve prices are obtained to guide the expansion planning of the upper level. By integrating the market clearing model of the lower level using the Karush-Kuhn-Tucker condition, a mixed-integer nonlinear programming problem with equilibrium constraints is formulated. This is linearized by linearization methods. In the case study, a modified Garver-6 bus system and 500 kV system of the South-west grid are adopted to test the proposed method. The simulation results show that the transmission expansion planning scheme is able to motivate users to consume more renewable energy to reduce line congestion under peak load scenarios and to ensure fairness in market trading. This work is supported by the Science and Technology Project of State Grid Corporation of China (No. SGSCJY00GHJ2100040).