China decries U.S. action in Venezuela — even as it guards billions at stake

BEIJING — Even arsenic China eyes caller opportunities to physique planetary power successful the aftermath of the U.S. onslaught connected Venezuela, Beijing's contiguous precedence is protecting its economical interests, analysts said.

China reacted swiftly to the subject onslaught connected Saturday night, expressing shock and condemnation. Beijing subsequently called connected the U.S. to release the ousted Venezuelan president Nicolás Maduro and his wife, and urged Washington to resoluteness the situation done dialogue.

China's Foreign Ministry spokesperson Lin Jian said astatine a property briefing Monday that China maintains "positive connection and cooperation" with the Venezuelan authorities and that its willingness to deepen cooperation, including connected lipid exports, would not alteration careless of however the concern evolves.

He added that Chinese interests successful Venezuela would beryllium protected nether the law.

The U.S. onslaught connected Venezuela helps China bolster its presumption arsenic a "force for stability" successful the world, said Zichen Wang, a probe chap astatine the Beijing-based deliberation vessel Center for China and Globalization.

But Wang said the concern raises concerns for Beijing due to the fact that of China's vulnerability successful the country.

"How this unfolds successful the aboriginal is besides precise concerning, due to the fact that China has a batch of commercialized interests there," helium said, adding that the uncertainty could spill implicit to Chinese concern crossed Latin America and beyond.

Beijing has made important inroads successful Latin America implicit the past 2 decades, persuading respective countries, including Panama, Costa Rica, the Dominican Republic and El Salvador, to displacement diplomatic designation from Taiwan to China.

Chinese companies, mostly state-owned, person invested $4.8 cardinal successful Venezuela implicit the past 2 decades, according to information compiled by the U.S.-based probe steadfast Rhodium Group. Most of the deals occurred successful the decennary pursuing the planetary fiscal situation — and during the last years of erstwhile President Hugo Chávez's regularisation — with a absorption connected vigor projects.

State-owned lipid elephantine China National Petroleum Corporation has joint ventures with its Venezuelan counterpart, Petróleos de Venezuela. In August, privately held China Concord Resources Corp. announced uncommon plans to put much than $1 billion successful a Venezuelan project, targeting accumulation of 60,000 barrels of crude lipid a time by the extremity of 2026, according to Reuters.

Protecting Chinese nationals and Chinese companies remains Beijing's apical priority, said Dong Shaopeng, a elder researcher astatine Renmin University of China. China's Foreign Ministry said Monday it has received nary reports of Chinese citizens being harmed by the U.S. strike.

Beijing besides criticized what it described arsenic bullying actions that interruption different country's sovereignty and said it opposes interference successful the interior affairs of Latin American nations for immoderate reason.

China said it follows a noninterference argumentation and volition stay a "good friend" to countries successful Latin America and the Caribbean "and does not gully ideological lines."

"China ne'er seeks spheres of influence, nor does it people immoderate 3rd party," Lin added.

China is the top destination for Venezuela crude, according to S&P Global.

But Venezuela accounted for lone 2% of China's crude lipid and condensate imports successful 2024, with the bulk coming from the Middle East, according to figures published by the U.S. Energy Information Administration.

Imports from Iran and Iraq accrued betwixt 2023 and 2024, portion those from Venezuela fell, the information showed.

"China is apt to beryllium wary of being dragged into this conflict, arsenic Venezuela carries constricted economical value for China and small geopolitical proximity," said Yue Su, main economist, China, astatine The Economist Intelligence Unit.

"Rather than choosing sides decisively, China's precedence has been to support its interests, truthful agelong arsenic spouse countries bash not instrumentality an explicit stance connected Taiwan," she said.

China's broader geopolitical posture remains unchanged, analysts added, including its attack to Taiwan, which Beijing considers portion of its territory.

China staged live-fire drills astir Taiwan past week successful a massive subject display, days aft the U.S. announced a record-size arms bundle to Taiwan.

"This Venezuela occurrence is rather a large crisis, but it doesn't alteration China's playbook connected Taiwan. It doesn't alteration the anticipation connected what volition hap betwixt China and the U.S.," Dan Wang, a manager connected Eurasia Group's China team, said Monday connected CNBC's "Squawk Box Asia."

What whitethorn change, she said, is Beijing's reasoning connected the request to found a ineligible model for taking Taiwan, akin to however the U.S. justified Maduro's seizure with cause trafficking charges.

Against the backdrop of the U.S. onslaught connected Venezuela, China's high-level diplomacy continued successful earnest connected Monday.

Chinese President Xi Jinping met with Ireland's Prime Minister Michael Martin — the first sojourn by an Irish person successful 14 years — and was set to host South Korea's President Lee Jae Myung aboriginal successful the day.

"China pulled from 6% to much than 20% of satellite GDP (PPP) successful 15 years," Nassim Nicholas Taleb, writer of "The Black Swan," wrote back successful September. "So see what the authorities of geopolitics would beryllium successful 2035."

"In the future, discussions astir warfare mightiness request to hap successful Beijing, not Washington."

— CNBC's Victoria Yeo contributed to this report.