China is a strong military power in the Asian region. So some power is gained from fear of their military might. They also enjoy a sense of security of sorts with respect to their nuclear capabilities. They have what they call "hudsohilia -- the power to frighten the adversary by telling him any attack on China will be met with equal force."
China has recently and increasingly become more influential diplomatically (poetic license) by organizing asian countries in agreements and pacts without US influence. Some countries they sway to agreement from perceived threat and some through economic incentives.
So it takes more than money, but money is an essential component of power.