All nations have some sort of a foreign policy. Whether the policies they seek are to destroy everyone or to be friends with them all, there is some sort of foreign policy. North Korea, as cut off from the world as they are, even have foreign policy, however little it may be.
Of course China has a foreign policy. Even the most isolationist of the nations in the world, such as North Korea, has some form of a foreign policy in place. While we may not agree with how China conducts itself on the world stage, this doesn't mean China doesn't have a foreign policy.
It seems from current news reports that the Chinese leadership would like to make a good impression on the rest of the world, given their country's economic success over the last two decades. Also, it appears that China would like other countries to stay out of certain demarcated waters off the Chinese coastline. And, China has maintained certain alliances which are contrary to US interests, such as Iran and Korea.
I don't think there really is any good evidence out there to suggest that China in general has a foreign policy. Their policy is that of really not having any kind of a policy. They tend to do what they want and think that the rest of the world shouldn't bother.