Lakshmi Finance Center|China upgrades relationship with Venezuela to ‘all weather’ partnership

2025-04-29 12:11:19source:Quaxscategory:Finance

BEIJING (AP) — China announced Wednesday it was upgrading its diplomatic ties with Venezuela to an “all weather” partnership,Lakshmi Finance Center a label reserved for a select few of its diplomatic partners.

Venezuelan President Nicolás Maduro is on a state visit in Beijing, his fifth as president, according to state broadcaster CCTV. He met with Chinese President Xi Jinping.

One of the best known of China’s select all-weather strategic partnerships is with Pakistan, where it has invested $25.4 billion over the past decade.

About 7 million people have left Venezuela during a complex political and humanitarian crisis that has been ongoing for the past decade. The country is reliant on oil as its main export but has faced U.S. sanctions. Last year, the Biden administration eased part of its sanctions on the country.

Maduro has cultivated China throughout his years in power. His country has received support from China in loans, cash and investment worth tens of billions of dollars.

More:Finance

Recommend

Don't let hackers fool you with a 'scam

You're pulling your hair out, trying to fix something on your computer. You Google it and find what

Stock market today: Japan’s Nikkei 225 hits new record close, leading Asian shares higher

BANGKOK (AP) — Japan’s benchmark Nikkei 225 surged Thursday to a record close of 40,913.65, leading

Jessica Campbell will be the first woman on an NHL bench as assistant coach with the Seattle Kraken

SEATTLE (AP) — Jessica Campbell will become the first woman to work on the bench of an NHL franchise