China's household appliances benefit Venezuela

During a state visit to China in September last year, Venezuelan President Nicolas Maduro said that in the past 15 years the country had received some $50 billion to finance such major projects.

Of that sum, $143 million were invested in the construction of Haier's manufacturing plant with an eye to strengthening domestic production, reducing reliance on imports and saving much-needed foreign currency.

The Venezuelan government's decision to strengthen economic and trade ties with China has also been motivated by its mid-term plan to convert the Latin American nation into a regional and global production powerhouse over the next 10 years .

On Tuesday, Maduro talked the future of Venezuela-China ties in a regular weekly broadcast.

He said that he planned to propose to Chinese President Xi Jinping that the two sides work jointly to outline policies that will offer structural solutions to the economic problems in the nation, such as scarcity and high inflation.

Current and future accords between the two, said Maduro, aim to spur economic development in the South American country, as part of the government's new "offensive" to promote production, supply and fair consumer prices.

"China proposes and maintains relations based on equality between states," said Maduro.

"It shows, as the 21st century just gets underway, that it is possible ... to be a global power without imperialistic practices, without colonial pretensions, without domination," Maduro added.

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