Foreign Minister Wang Yi told his Venezuelan counterpart Jorge Arreaza on Friday that stability in Venezuela is not only in his own people's interest but is also the expectation of China and the international community.

Wang said all countries are entitled to pursue development paths that suit their national conditions, which should be respected.

He said China hopes for Venezuela to maintain its trend of returning to stability, and encourages the country to settle problems through dialogue and consultation within a legal framework.

Arreaza said China is the priority for his country's foreign policy and it is ready to actively participate in the Belt and Road Initiative, expecting more substantive achievements. At a news conference on Thursday, Arreaza said that the initiative will promote investment cooperation and create more jobs, which will have a significant influence on the global economy.

"Venezuela could make use of its geographic advantages and energy resources to be involved in the initiative," he said.

Arreaza is on a four-day visit to China. He said Venezuelan President Nicolas Maduro will make a visit to China next year, and his meeting with Wang was to pave the way for Maduro's visit and the 16th China-Venezuela High-Level Joint Commission.

When responding Thursday to the question of Venezuela's debt issues, Arreaza said that China and Venezuela have always designed and built financial mechanisms in order to exchange investments and cooperation in a just, fair and equal manner.

"Financial cooperation is always fundamental in order to guarantee our cooperation in other areas," he said, adding the debt issue is not on the agenda of the visit.

Arreaza said Venezuela thanks China for respecting Venezuela's sovereignty and development plan, and their bilateral relations have made great progress in recent years.

President Xi Jinping visited Venezuela in 2014 and the two countries agreed to upgrade bilateral ties to a comprehensive strategic partnership.

"Xi's visit was very successful and the results benefited the development of all fields in Venezuela," Arreaza said.

China's investments in sectors including energy, infrastructure, science and technology, space and culture are in line with the needs of the people in Venezuela, he added.

Arreaza also spoke highly of China's reform and opening-up, saying the past 40 years shows that China has the ability to respond to the needs of its people and adapt to global economic developments.

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