This paper reports on an inquiry into a group of students’ Portuguese language learning with a focus on their access to economic, social, and cultural capital. The inquiry problematizes the traditional uncritical assumption of a shared pursuit of linguistic competence among students. Drawing on individual in-depth interviews with 14 participants at a university in Macau, this article illustrates how local and mainland Chinese students related their Portuguese language learning to the acquisition of different forms of capital, respectively. Specifically, our analysis reveals that economic capital dominated in the local participants’ pursuits, with cultural and social capital being less influential, whereas among mainland Chinese participants the influence of economic capital was weak and unsustainable, with a balanced distribution of cultural and social capital. The findings also suggest that the participants’ family contexts and social networks shaped their pursuits of different forms of capital in Portuguese learning, implying that educational institutions and teachers need to reframe their learning resources and pedagogical strategies for Portuguese language learners in Macau, placing greater emphasis on reinforcing students’ social connections with Portuguese or local Macanese communities.