According to BBC NEWS Chinese President Hu Jintao has signed a number of agreements with Liberia in Monrovia, pledging more aid and investment to the West African nation.
The deals included the cancellation of $10m (£5m) of Liberia's debt to China and waiving duties on Liberian exports. Mr Hu also promised to help Liberia - which is still recovering from a long civil war - tackle malaria and assist in education and agriculture. Mr Hu and his Liberian counterpart, President Ellen Johnson-Sirleaf, signed a memorandum of understanding during their talks in Monrovia.
It included the formal signing away of $10m debt owed to Beijing.
Also China has decided to give to Liberia within two years... $25m (£13m)," Liberian Information Minister Lawrence Bropleh said. The money will be spent on projects to help rebuilt Liberia, following the 1989-2003 civil war that ravaged the country.
On his part, President Hu was seeking to help his country access Liberia's raw materials, including iron ore, for the rapidly-expanding Chinese economy.
Fast Forward to 2011 The Government of the People's Republic of China has revealed that its investment in Liberia has reached a total of US$9.9 billion dollars.