Together with the acceleration of globalization processes, power in international relations has moved from the political and military space to the economic one. Today, true power means ability and capacity to integrate with the global economy. Therefore, economic diplomacy, which is not a new phenomenon, became one of the most important elements of foreign policy of all countries. The aim of the article is to present the importance of economic diplomacy in foreign policy in the era of globalization with a particular emphasis on the economic activity of China.