This article identifies the explanatory sources of Asians' perceptions about China's rise. The authors try to decipher the relative importance of individual-level explanatory variables such as socio-economic satisfaction, cognitive schema, and ideology and political values vis-à-vis that of the country-level structural variables such as geopolitical tension, economic interdependence and cultural identity. The empirical findings suggest that the growing perception that China has the most influence in Asia is more related to individual-level demographic variables which are associated with greater interest in political affairs, despite the fact that there is also some evidence that contextual factors related to economic interdependence also matter. A favorable perception of China's influence, on the other hand, is more associated with a less negative orientation on geopolitical and cultural factors, which both involve long-term historical memory and political feelings. Economic interdependence might engender adversarial feelings against China if the level of interdependence is high enough to cause economic vulnerability.