(MENAFN) The South American nation's president said China has agreed to more than USD20 billion in investments in economically struggling Venezuela, AFP reported.
China's President said that his country, the world's second-biggest economy which has been bolstering its diplomatic and economic reach in South America, had agreed to "strengthened cooperation."
China is Venezuela's largest investor and the second-largest purchaser of its oil. Beijing has extended USD42 billion in long-term loans to Venezuela, USD24 billion of which has been paid out so far.
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