The Initiative for the Integration of the Regional Infrastructure of South America（IIRSA）was created in 2000 by 12 South American countries，whose main aim is to realize regional integration of transportation，energy and communication. Up to 2014，the IIRSA has defined 10 hubs of integration and development with 579 integration priority projects. The estimated total investment would be about 163.3 billion USD. The IIRSA has 4 striking features：the sector of transportation is the key field；most of the projects are the member’s national projects；public investment is the main financing source；4 bi-oceanic corridors and 3 economic belts are the main components of programming and planning. The absence of funding and the difficulty in unified institutional arrangements among the members are the most stubborn challenges for the IIRSA. However，the IIRSA can be one of the important platforms for China-Latin America cooperation in the area of infrastructure.