BRASILIA, May 19 (Xinhua) -- Chinese Premier Li Keqiang announced here Tuesday that Beijing is to establish a 30-billion-U.S.-dollar special fund for promoting China-Latin America cooperation in production capacity and equipment manufacturing.

The fund will be channeled directly to cooperation projects with no political strings attached, Li said at the closing ceremony of a China-Brazil business summit.

The Chinese premier is now on a four-nation Latin America tour, a main objective of which is to expand production capacity cooperation and realize common development.