Abstract: For decades, China and Africa have been united by cooperation that touches on several fields. But this cooperation has significantly grown over the past decade to the point where it is considered a form of “abusive exploitation of Africa by China” by some observers. Yet, in reality this partnership can be described as cooperation void of risk of being too wrong, win-win. This article raises the question of existence of Western monopoly in terms cooperation aimed at development and growing multiplicity of cooperation policies in this area. It also considers the practices of China’s “South-South” cooperation with African countries and then compares them to traditional North-South cooperation policies. The China’s authorities are deploying South-South cooperation rhetoric and are positioning themselves as reference for developing countries. China is trying to cultivate a positive image in Africa by mobilizing a wide range of academic, cultural, media, economic, and other instruments contributing to strengthening of its power of attraction and the promotion of its development model on the continent. The article assesses the impact of Chinese cooperation on development dynamics in Africa in terms of challenges and opportunities.