China and India

China and India have far more common interests than differences, Chinese President Hu Jintao asserted on April 15.

The two countries are "cooperative partners and in no way rivals," Hu told Indian Prime Minister Manmohan Singh in Brasilia on the sidelines of the second BRIC summit. "Both sides welcome each other's peaceful development."

A review of China-India relations over the past six decades, said Hu, shows conclusively that cooperation benefits both nations—while confrontation hurts each side.

Beijing and New Delhi, he added, should accommodate mutual core interests while properly addressing each other's concerns. Hu also called for an early settlement of border disputes.

China and India established diplomatic relations in April 1950, months after the People's Republic was founded in October 1949.

Beijing has encouraged Chinese companies to invest in India, said Hu, and is willing to collaborate closely with New Delhi in science and education, especially in the hi-tech sector.

China is also willing to strengthen consultation with India in G20, the BRIC group and other multilateral mechanisms, Hu said.

China and Venezuela

China signed a series of agreements with Venezuela on April 17 to help the South American country develop its oil and electricity industries.

Under the agreements, the two countries will establish joint oil exploration and processing operations in Venezuela's Orinoco reserves belt. China will provide technology transfers to Venezuela and help it build its own thermoelectric power plant to ease the oil-exporting country's recent energy crisis.

In addition, China will provide loans worth $20 billion to Venezuela's energy sector via the China Development Bank.

The agreements were signed during a visit by a delegation of Chinese government officials and entrepreneurs to Caracas.

Venezuela is China's fifth biggest trade partner in Latin America. Bilateral trade reached $7.15 billion last year, according to Chinese official statistics.