Venezuelan President Hugo Chavez said Wednesday that a joint investment fund between his country and China would have US$12 billion in capital, twice the amount originally announced, the Wall Street Journal reported. Chavez, who made the announcement in Beijing on the second day of his three-day visit to China, hopes that China can eventually overtake the US as his country’s largest oil customer. Chinese officials have declined to confirm the deal. On Tuesday, China and Venezuela agreed to cooperate on the construction of two oil refineries, one in each country.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved