Venezuela President Hugo Chavez said in Beijing Thursday that he expected more cooperation with China in financial aspects to benefit both nations.

Chavez made the remark during his visit to the state-owned China Development Bank (CDB) on Thursday. He held talks on strengthening cooperation with CDB board chairman Chen Yuan and CDB president Jiang Chaoliang.

Chavez hailed the cooperation with China in financial sectors, saying he was satisfied with the cooperation on a joint financing fund between the two countries.

Chen said CDB would cement cooperation with developing countries including Venezuela, and promote friendship, peace and mutual development.

China and Venezuela signed an agreement in February on the joint financing fund, with the goal to expand the fund to 12 billion US dollars. The two nation set up the fund at the beginning of the decade to finance projects in Venezuela, with four billion US dollars contributed by China and two billion US dollars from Venezuela.

(Xinhua News Agency April 10, 2009)