The new Convention renews the Fund by another six billion dollars before compliment the term, so the Fund rises to 12 billion dollars. With the Fund’s resources are being developed more than 100 projects in Venezuela ranging from crops and agricultural advice to factory of Bolivarian computers, cell phones and infrastructure works. It highlights that trade between Venezuela and China which did not reach the $ 200 million in the year 2000 has climbed this year to 10 billion dollars, according to official data there is an agreement with China that includes the placing into orbit of the first satellite of the country in 2008 South American with Chinese technology. Daily Gramma points out, that the bilateral relationship threw by Earth already last year the concept about the impossibility of selling Venezuelan oil to the Asian giant, because of the distance, and sale was set in late 2006 at 300 thousand barrels per day. With newly signed agreements the figure should reach this year 500 thousand barrels per day, with prospects of reaching one million barrels in 2012 while consolidates the collaboration in the exploration, exploitation and marketing of fuels. The Fund of six billion dollars (four billion contributed by China and two thousand by Venezuela) heavy will be destined for national development, including installation in the South American country from a factory of third generation cellular phones. Another project is the reactivation of the railway system with the construction of two large axes that will cross Venezuela in two directions.
Another of the agreement facilitates the creation of the company Petrozumano, S.A. with 60 percent of local capital and 40 percent Chinese, for exploration, extraction, collection, transportation and storage of hydrocarbons. With a proportion of capital 60 percent Chinese and 40 percent Venezuelan established the possibility of creating another joint venture in the Asian nation to operate three refineries of Venezuelan crude oil and distribute it in the country of a thousand 300 million inhabitants. Since then, these new alliances, lead to be vigilant as they benefit to a country like Venezuela that requires much transparency, proper handling of their income and all those activities that are reflected in favour of its development for the benefit of all Venezuelans and not the power groups. Now faced with this reality, for example, it is very important to listen to as the school of economy, administration, engineering, finally national universities are pronounced on the benefits, impact, weaknesses and strengths, expose their points of view and thus, provide objective information of what the country they represent these new alliances..