Of the two the Yoga 700 is overall the better laptop because it has a more powerful CPU.
The Yoga 3 Pro's M-5Y70 is a low power consumption CPU. It is less powerful than a Core i3 CPU which makes it less powerful than the Core i7-6200u in the Yoga 700. The graphics core in the M-5Y70 is also less powerful than the Intel HD 520 which is integrated in the i7-6200u.