The years 2018–2022 witnessed an acceleration of processes leading to an important transformation of the post-Cold War international order. The most important phenomena are: growing great power tensions (visible in the open Sino-American rivalry and, above all, in the Russian invasion of Ukraine), global effects of the COVID-19 pandemic and (connected to the previous ones) weakening of the world economy’s growth dynamic. In such a turning point in international order’s evolution, the issue of international leadership acquires an outstanding importance. The declarations of PRC’s party-state leadership leave little doubt as to their aspirations to international leadership. The main aim of this article is to assess the perspectives for PRC to play a role of an international leader in the face of the aforementioned trends in the international order’s evolution. The main axis of the text is formed around three research questions: To what degree PRC meets the requirements of effective international leadership: power resources, vision of international order and other actors’ support? Do main processes transforming the current international order (great powers’ conflicts, transnational threats and economic difficulties) support or degrade China’s ability to exercise international leadership? What are the possible future scenarios concerning PRC’s international leadership?