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The money will be repaid by oil shipments to China. The 38 new agreements aim to strengthen economic ties between the two countries in industries such as energy, mining and transportation.
"Our relations are going into a comprehensive strategic area. China is willing to work with Venezuela to take advantage of this moment to promote bilateral1 ties and develop them at a higher level," Xi said.
"The funding as we all know will not put our country into heavy debt. It’s a financing that is backed by production and the supply of oil barrels. It provides a virtuous2 formula that allows for financing and development without creating heavy debt like in the old system, when Venezuela applied3 the neoliberal system," Venezuelan president Nicolas Maduro said.
1 bilateral | |
adj.双方的,两边的,两侧的 | |
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2 virtuous | |
adj.有品德的,善良的,贞洁的,有效力的 | |
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3 applied | |
adj.应用的;v.应用,适用 | |
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