China, Venezuela agree to extend economic ties

Venezuelan President Nicolas Maduro has begun his first state visit to China since taking office in April. He has held talks with his Chinese counterpart Xi Jinping in Beijing. Earlier he met with leaders from Chinese companies, witnessed the signing deals on energy, agriculture and public welfare projects.

A 21-gun salute and a full military welcome, during talks between the two leaders, President Xi Jinping called late Venezuelan President Hugo Chavez a great friend of China. Xi Jinping added that China appreciates Venezuela.s continued friendly approach to its relations with China. Xi Jinping said the two sides should boost cooperation in energy, agriculture, infrastructure and finance.

To mark the 40th anniversary of establishing diplomatic ties between the two countries, President Xi Jinping says a series of cultural events will be held to promote relations.

Venezuelan President Maduro says establishing a strategic partnership between the two countries has been one of the greatest legacies of Hugo Chavez. Maduro says he hopes the two sides can map out the development of their relations in the coming decade. And that he welcomes Chinese investment in Venezuela.

Just a week before the trip, President Maduro opened an account on Sina Weibo, China.s most popular microblogging website. It soon attracted more than 40-thousand followers.

President Maduro has been posting about his meetings with Chinese company leaders and described the morning as "fruitful". He announced on his micoblog that "I have met with leaders of China National Petroleum Corporation. We have agreed to start a joint venture to drill in Junin 10. And we have agreed on the preliminary output."

Other deals have been signed covering agriculture, water conservation, public transportation, and telecommunication and housing construction.

Relations between China and Venezuela strengthened greatly during Maduro.s nearly seven-year stint as foreign minister during Chavez.s administration.

Trade between the two countries reached almost 24 billion US dollars in 2012. Venezuela is now China.s fourth largest trading partner in Latin America.