Geng Shuang, spokesperson for Chinese Ministry of Foreign Affairs, speaks at a press briefing on March 7, 2017. (PHOTO / FMPRC.GOV.CN)

BEIJING – China said Monday its cooperation with Venezuela has benefited local people, refuting an accusations by the US in this regard as "groundless" and "irresponsible."

The loan contracts of both countries comply with international norms, laws and regulations, and the outcomes have benefited local people 

Geng Shuang, Spokesperson, Foreign Ministry, China 

Chinese Foreign Ministry spokesperson Geng Shuang made the remarks after a US Treasury senior official accused China of "supporting poor governance" in Venezuela through loans.

The financing cooperation between China and Venezuela was carried out by financial institutions and companies on both sides in a win-win spirit, said Geng.

"The loan contracts of both countries comply with international norms, laws and regulations, and the outcomes have benefited local people," he said at a daily press briefing.

China-Venezuela cooperation has brought more than 10,000 units of public housing for Venezuelan people, and cooperative power projects account for 10 percent of the country's total installed capacity, according to the spokesperson.

More than 3 million low-income Venezuelan families have been provided with household appliances at preferential prices, and over 700,000 families gained access to satellite television services, the spokesperson said.

The China-Venezuela cooperation has promoted Venezuela's socio-economic development and has been welcomed and supported by all walks of society, Geng said.

A stable Venezuela conforms to the interests of all sides, he said, adding that China does not interfere in the domestic affairs of other countries.

China supports the various parties of Venezuela to properly settle their problems through dialogue, he said, adding that China is willing to continue to help with the country's economic and social development through practical bilateral cooperation.