On July 18, the central banks of Venezuela and China signed a cooperative agreement in Caracas, capital of the South American country, aimed at promoting the exchange of information on statistical methodologies, monetary policy strategies and funding mechanisms between the two countries.

Zhou Xiaochuan, Governor of the People's Bank of China, said the agreement is a breakthrough for both sides in enhancing economic ties.

It is important for the two central banks to exchange views and share their experiences, especially on monetary policies and financial stability, Zhou added.

Zhou's Venezuelan counterpart, Nelson Merentes, described the deal as "historic," saying it would facilitate bilateral collaboration.

Merentes stressed that the two central banks have to work together as the ties between the two countries are getting ever closer.

He said that it must be taken into consideration that "more and more Chinese companies" are investing in Venezuela in various fields, such as agriculture, livestock, construction, mining and telecommunications.