Chinese government announced a new round of policy towards Latin America in 2012, expecting to establish an overall cooperation framework with the region. The rapid growth of Sino-Latin American trade during the past decade suffered from the challenge caused by the world economic recession and China's lower growth. China began to demonstrate its influence on Latin American economy as an independent variable. The strategic position of the South America was strengthened in China's foreign relations. Sino-Latin American cooperation in science, technology and culture was improved continuously with richer contents and more diversified forms. Both China and Latin America attached great importance to the "developmental" finance and agricultural cooperation. Despite the great potential of cooperation, China and Latin America are also faced with the challenges of transforming economic growth mode. <<