Lula in Shanghai on visit to boost ties with China

Brazil’s President Luiz Inacio Lula da Silva participated in an inauguration ceremony for Brazil's former President Dilma Rousseff Thursday in Shanghai. Rousseff is in charge of the New Development Bank, the development bank for the BRICS, which is a bloc formed by Brazil, Russia, India, China and South Africa.

Lula talked on his first agenda about the challenges and ideals of the bank to help developing countries. Rousseff highlighted the bank’s priority of sustainable development. Lula also said also spoke of using a country's own currency to back its trade.Lula is visiting China and on Friday will be received in an official ceremony by President Xi Jinping and sign bilateral agreements.