The article from historical retrospective deals with certain key aspects of economic cooperation between China and some Latin America countries focusing on MERCOSUR states. Transformation of the People’s Republic of China in "world factory of the 21st century" has caused the need for formation of adequate resource base. The needs for diversifi cation of sources of supply of raw materials because of the growing geopolitical risks, an ideological vacuum in the region after the collapse of the USSR in combination with a lack of US serious economic interest towards Latin America, stimulated the People’s Republic of China to begin active penetration into the region, which continues so far. Taking in consideration the transformation of China into an economic superpower and one of key global players, strengthening of its communications with the MERCOSUR countries is very important for global economic system.