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In the last decade, China has evolved into one of the most promising economic and political partners in Latin America. This sudden and unprecedented “rise” of China has provoked expectations as well as anxieties in the hemisphere. In line with the increasingly visible presence of China, the subject of Sino-Latin American relationship has gained greater academic prominence. As a part of such academic endeavors, this article explores the dynamics and complexity of Chinese resource-driven investment by comparing the corporate behaviors of three state-owned enterprises in the Peruvian mining sector. By analyzing the corporate behaviors of these Chinese state-owned enterprises, this article critically questions the validity of the so-called “China model” in comprehending the nature of Chinese growing engagement in Latin America.