While achieving some success in the Global South, China’s efforts in soft power projection have yielded limited results. This article posits that China’s great power identity construction has introduced complexity to its soft power projection, exacerbated by the negative effects of great power competition, misperception bias, and geopolitical concerns. This article presents a text analysis of President Xi’s speech (2012–2022) and China’s Ministry of Foreign Affairs press conferences (2002–2022), aiming to decipher the underlying and substantial changes in China’s great power identity construction. In projecting soft power, China faces navigating the intricate and multifaceted landscapes shaped by its great power identity construction, all within the context of a dynamic and fiercely competitive international environment.