The twelfth meeting of China - Venezuela Senior Mixed Committee was held in Beijing, at which relevant units of the two countries signed a number of cooperation documents on oil, electricity, agriculture, industry, technology, communication and tourism.
Venezuela President Maduro visits Beijing this time with a purpose to conduct more extensive cooperation with China mainly in energy. China Petroleum & Chemical Group invested USD 1.4 billion in Junin-1 at the Orinoco heavy oil belt to plan to produce 20 million barrels of crude oil daily. Meanwhile, Venezuela has announced the purchase of 2,000 China-made buses. China has promised to provide USD 500 million loans for Venezuela to develop housing, villages, transport, industry, roads, electricity, mining, medical care, and science and technologies.
Beidahuang Business Trade will sow 60,000-hectare agricultural crops such as rice and soybeans in five major agriculture states in Venezuela. China Huadian will install video surveillance devices to ensure the safety of the public in 36 cities in Venezuela.