China's top legislator Wu Bangguo said Tuesday in Beijing that China highly values relations with Venezuela and hopes to expand cooperation with Venezuela on the basis of mutual benefit.

In his meeting with visiting President of Venezuela's Congress Nicolas Maduro, Wu, chairman of the Standing Committee of China's National People's Congress, said: "China hopes to enhance friendly exchanges with Venezuela and probe the potential for further cooperation to achieve mutual benefit."

Wu highlighted the economic cooperation between the two countries, saying that both China and Venezuela are undergoing fast economic development and their economies are highly complementary.

"That creates favorable conditions for the two countries to intensify pragmatic cooperation in economy and trade," said Wu.

Located in north Latin America, Venezuela is rich in mineral resources.

Expressing his appreciation of China's achievement in the development, Maduro said Venezuela hopes the two countries can learn from each other in promoting common development.

He said to develop relations with China is a consistent policy of Venezuela and a common aspiration of its people.

The two leaders agreed to enhance parliamentary exchanges so as to boost bilateral ties.

Wu also expressed China's appreciation of Venezuela's strong support on the issues including Taiwan.

Maduro is on an eight-day visit to China. He will also visit Shanghai and east China's Shandong Province.

Source: Xinhua