In recent years, with its economic rise, China has initiated so-called "resources diplomacy" in Latin America. Under this banner, China has been launching massive overseas economic activities on the basis of its huge foreign reserves, plus high-level diplomatic visits, for the purpose of acquiring foodstuffs and natural resources. However, this kind of diplomacy has brought about controversy: does China intend to establish a neo-colonialist economic relationship or pursue South-South cooperation? From the angle of political economy, this study analyzes China's resources diplomacy in Latin America in terms of trade, investment, and financial loans. Although the major activities taken by China remain the acquisition of foodstuffs and natural resources, these do not yet constitute a kind of neo-colonialist economic relationship.