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The initiative has reaped tangible results in the six years since its birth in 2013. It has also accumulated worldwide support. So far, 126 countries and 29 international organizations have signed up to the initiative.

In 2018, taxes and fees levied on enterprises and individuals were reduced by around 1.3 trillion yuan as a result of multiple preferential tax policies introduced by the government.

The upcoming Belt and Road forum to be held in Beijing later this month could be an opportunity to kickstart a "second phase" of the initiative, she added.

The financial authorities will treat all domestic and overseas entities equally, while cooperation and competition will be carried out subject to the same rule, he said.

China supports the Venezuelan government's efforts to safeguard the sovereignty, independence and stability of the country and holds that Venezuelan affairs should be handled independently by the Venezuelan people themselves, said Ma.