Beijing - Venezuelan President Hugo Chavez held talks with Chinese President Hu Jintao on Wednesday before the two sides signed an oil cooperation deal and several economic agreements. The Chinese government gave no immediate details of the oil agreement but it said other documents covered economic cooperation, education and justice.
The Venezuelan government said more than 20 agreements would be signed during Chavez's three-day visit to China, which began on Tuesday.
Hu welcomed Chavez as an "old friend," following earlier meetings between the Venezuelan leader and Wu Bangguo, the official number two in China's ruling Communist Party, and Vice Premier Li Keqiang.
"Mr President is an old friend of the Chinese people," the semi-official China News Service quoted Hu as telling Chavez.
"This is already Mr President's fifth time to visit China, you have made an important, long-term contribution to the development of bilateral relations between China and Venezuela," Hu said.
Chavez was quoted as telling Wu that the two nations had made "important achievements" through cooperation in politics, energy, finance, technology and other fields.
Wu thanked Chavez for Venezuela's support on Taiwan and other issues, reports said.
Venezuela exports 350,000 barrels of crude oil and derivatives per day to China, according to the official Xinhua news agency.
Venezuela has agreed to supply China with 500,000 barrels per day by 2010 and 1 million barrels per day by 2012, the agency reported earlier.
In May, the China National Petroleum Corporation, China's largest oil producer, agreed to set up two joint ventures with Petroleos de Venezuela to develop and refine heavy oil from Venezuela.
Asked before Chvez's arrival if the documents to be signed in Beijing would include deals on energy and military fighter jets, foreign ministry spokeswoman Jiang Yu said she had "no information" on military trade.
"Venezuela is a major oil exporter in the world, and energy cooperation is part of the two countries' cooperation of mutual benefit," Jiang told reporters.
She said China's suppply of oil from Venezuela accounted for only for 4 per cent of its total oil imports, and that increasing imports would not affect Venezuela's oil supplies to other nations.
Bilateral trade was valued at 5.86 billion dollars in 2007 and had already jumped to 6.74 billion dollars in the first seven months of this year, Jiang said.
