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Wed, 04/03/2024 - 10:34
Submitted by maithuy on Sun, 06/05/2011 - 10:46
Chinese Vice President Xi Jinping arrived in Cuba on June 5 for a three-day visit expected to accelerate fast-growing economic relations between the two countries.

One of Cuba's six vice presidents, Esteban Lazo, was at Havana's Jose Marti International Airport to greet Xi, who is tipped to succeed Chinese President Hu Jintao in 2013.

Xi came to Cuba from Italy, where US$3.2 billion in business deals were unveiled during his visit, and he was to go on to Uruguay and Chile.

China is in the midst of a massive expansion of economic activity in Latin America, where its trade last year totaled US$180 billion, up 50 percent from 2009, official Chinese news agency Xinhua reported.

Xi and President Raul Castro were scheduled to hold talks and preside over the signing of so far undisclosed accords on June 6.

China is Cuba's second largest trading partner, trailing only Venezuela, with trade between the two increasing to US$1.83 billion last year from US$440 million in 2001.

Last year, China restructured debt believed to be as high as US$4 billion and agreed to extend new credit in what Havana-based diplomats said was a show of support for Cuba's reforms.

China's involvement in Cuba's economy is increasingly evident, with Chinese-made goods filling the stores and Chinese buses and cars a common sight on Cuban roads.

A unit of China National Petroleum Corp is expected to begin work later this year on a US$6 billion project to expand and upgrade an oil refinery in Cienfuegos on Cuba's southern coast, with plans including construction of a liquefied natural gas terminal.

Reuters/VOVNews

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