China’s changing power status is a critical factor influencing the ups and downs of the China-G77 cooperation framework on climate change. When China’s developing country status was steadfast, China and the Group of 77 shared common values and interests and therefore could cooperate with each other effectively. However, after China’s developing country status becomes an open question, the foundation for China and the G77 to cooperate—common interests—have been gradually weakened, even leading to the end of the cooperation. In this sense, the turning point of China’s power status has also become the critical juncture for the development of China-G77 cooperation framework. The study reveals that the 2008 financial crisis was such a turning point not only for China’s power status, but also for China-G77 cooperation, which turned from close to loose. Although the cooperation has not dissipated completely, it will face more challenges ahead and will unlikely rebound back to the pre-2008 level.