Here's another article that says the Chinese actually signed a "contract" with the CVG. Who else has a contract with the CVG?...hmmm

Venezuela and China have signed about 30 bilateral agreements

CARACAS, Dec. 22 (PL) - Venezuela and China signed today, 29 which contains from 11 bilateral agreements on energy, economic, political and technological.

The trade, according to Minister of Planning and Development Jorge Giordani, increased between 2003 and 2008 more than 13 times, going from 742 million to 10 billion dollars.

The China-Venezuela fund reaches 12 billion dollars during the closing Giordani ratified the VIII High Level Mixed Committee binational where hundreds of Chinese entrepreneurs participated.

From Theater of the military academy in Caracas documents were initialed in exploration and production blocks eight and Boyacá Junin three in the Orinoco Oil Belt.

It also signed a contract for the supply of crude and products between Petroleos de Venezuela (PDVSA) and Petro China to supply 500 thousand barrels daily to China.

It was further agreed cooperation and production of fish and shrimp farming, creation of new joint ventures among others.

Another document referred to PDVSA to build and manage a joint venture production of hydrocarbons in Block Junin eight with the aim of producing 200 thousand barrels per day of extra heavy crude. It was agreed to run a study of quantification and certification of reserves from existing fields in Block Boyacá three in the Orinoco Oil Belt.

A memorandum of understanding was signed to provide drilling services offshore deepwater and ultra-deep, and one between the China Development Bank and PDVSA to finance joint agreements.

It also signed a contract between the Corporacion Venezolana de Guayana (CVG) and China Development Bank Corporation to open a credit line of one billion dollars with the purpose of financing projects of the CVG.

Another agreement was signed for the training of public officials in the area of high-level planning between the National School of Administration of Chinese and Venezuelan school planning.

An act of commitment was signed between the National Electricity Corporation (Corpoelec) and Sinohydro to promote to develop and build joint hydroelectric projects.

During the signing of new agreements was attended by President Hugo Chávez and the head of the National Reform and Development of China, Zhang Ping.

Both countries established diplomatic ties in 1974, although these relations reached its peak with the government of Chavez, who has visited several times to China.

China-along with Argentina, Brazil, Cuba, Iran and Russia is a strategic country for Venezuela as the number of agreements signed and the volume of trade.