The article is an attempt to determine Latin America's importance in the People's Republic of China (PRC)'s foreign policy via a study of their bilateral political and economic relations from the perspective of national interests. It is found that Latin America is not an important interest zone in the PRC's foreign policy and Beijing will not use too much of its limited resources in this area. Latin America does have an important status in Taiwan's foreign policy, however. To reduce Taiwan's international political space, Beijing has always watched for chances to win over those Latin American countries having formal diplomatic relations with Taiwan.