Chen Yuan (R), vice-chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), and Venezuelan Ambassador to China Ivan Zerpa Guerrero (L) unveil a commemorative stamp during a reception marking the 40th anniversary of the establishment of diplomatic relations between the People's Republic of China and Venezuela, in Beijing, capital of China, July 2, 2014. (Xinhua/Wang Ye) 

Venezuela on Wednesday launched a series of celebrations to commemorate 40th anniversary of establishment of diplomatic ties with China.

The two nations established diplomatic ties on June 28, 1974, and have since "strengthened their mechanisms of cooperation and interest in consolidating a strategic alliance for joint development," Venezuela's Foreign Affairs Ministry said in a statement released on the eve of the celebrations.

"The two countries mutually support each other to safeguard sovereignty and the interests of developing countries," the ministry said, adding "a series of political and cultural activities are planned in Venezuela to continue to bolster the ties of friendship and cooperation between Caracas and Beijing."

The Bolivar Theater in Caracas, the national capital of Venezuela, was set to feature Chinese dance, music, acrobatics and martial arts performances starting at 6 p.m. local time, the Venezuelan News Agency (AVN) reported.

Some 25 Chinese performers from Tianjin, China, are in Venezuela to showcase Chinese dance, music and more in the lead up to the anniversary on Saturday.

"In recent years, China and Venezuela have intensified exchanges of a cultural, educational and scientific-technological nature," Venezuelan President Nicolas Maduro stressed, highlighting bilateral accords in the areas of infrastructure, agriculture, oil, finance, trade, technology and defense.

Venezuela is also expanding its land transportation network nationwide with the help of Chinese firms, and China has also helped the South American nation launch and operate two Chinese- made satellites.