China, Venezuela ink economic cooperation agreements

Economy
The governments of China and Venezuela signed on Monday several long-term economic cooperation documentsinstruments, including financial agreements in the mining and oil sectors.

The Venezuelan embassy to China told Efe in a press release that According to a note sent to Efe by the Venezuelan embassy in China, the Venezuelan delegation was led by the Minister of Planning and Finance Jorge Giordani.

"We have finalized the legal architecture of a huge long-term loan that will promote the development of structural projects," Giordani said in a speech to beforethe Chinese authorities.

Venezuela and China signed four agreements, among them a supply contract between the state-run oil company Petróleos de Venezuela SA (Pdvsa) and the the China National Petroleum Corporation (CNPC), as well as and a mining cooperation agreement between the Venezuelan Guayana Corporation (CVG) and the China Development Bank Corp.