Maduro looks to China to bolster Venezuela's collapsing economy

BEIJING, China (AFP) — Venezuelan President Nicolas Maduro was expected to arrive in Beijing yesterday to strike deals with his crisis-hit country's biggest creditor.

Before departing Caracas, Maduro said the trip was “very necessary, very opportune and full of great expectations”.

“We are leaving under better conditions, having activated a programme of economic recovery, growth and prosperity. We are going to improve, broaden and deepen relations with this great world power,” he said in a televised address on Wednesday.

Maduro will be in China for a state visit from Thursday to Sunday, according to the official Xinhua news agency.

China's foreign ministry said President Xi Jinping will treat Maduro to a welcoming ceremony and a banquet.

“China is confident that this visit will further enhance political mutual trust, deepen mutually beneficial and friendly cooperation between the two countries in various fields,” ministry spokesman Geng Shuang told a regular press conference.

“Recently, the Venezuelan government has actively promoted economic and financial reform with a good social response. I think a stable Venezuelan development is in the interest of all parties,” he added.

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