The Sino-Latin America relations entered a new stage after the great development in the first decade of the 21st century. Starting from 18th Congress of CPC in November 2012，the new generation leadership led by Xi Jinping has put forward a series of goals，policies and grand strategies of development both domestically and internationally. Within China’s grand diplomatic strategy，the goal of Sino-Latin America relations and its position in China’s diplomatic strategy has been enhanced greatly. The Sino-Latin America relations have advanced to a new stage when President Xi proposed to establish the Community for Common Destiny and Comprehensive Strategic Development Partnership among China and Latin American Countries. In this new stage，the goal，cooperation plan，and development engine have been updated significantly. However，the internal and external environments for Sino-Latin America relations are undergoing fundamental changes. These changes will bring both opportunities and challenges. The certainty of China’s policy toward Latin America and uncertainty of the world caused by Brexit and Donald Trump’s taking power，offer opportunities for China and Latin America to deepen their cooperation，though with a lot of challenges lying ahead. One of the key challenges comes from the Chinese side，that is how to achieve greater development domestically，enhance risk management for Chinese investment in Latin America and strengthen its soft power in Latin America.