IMO, China will ramp up its relationship with Venezuela over the next decade
in retaliation to the US pressure being put on China over HK & Tiawan.
China has an interest in opening up extra oil supplies because it is the biggest
consumer/importer of Oil & oil products in the world.
If the US ramps up economic sanctions on China, then China has nothing to loose
in supporting Venezuela because at present the US only deterrent to China's involvement
in Venezuela short of kinetic war is economic sanctions.
https://en.wikipedia.org/wiki/China–Venezuela_relations