Venezuela asks China for fund boost
Venezuelan President Hugo Chavez has said his government is urging China to increase the size of a joint development fund to £13 billion.
Mr Chavez said Venezuela wants the fund to be increased from £7.9 billion.
The fund was created in 2006 with £4 billion to finance joint development projects in the South American country.
The fund is also designed to boost Venezuela's oil exports to China. Chavez said the country is now shipping an average of 400,000 barrels a day to China.
Under Mr Chavez, Venezuela has fostered increasingly close ties with China as it seeks new markets for it's oil beyond the US. The US is Venezuela's biggest customer.