"We oppose unilateral sanctions. History has shown that foreign intervention or sanctions complicate the situation and are not able to solve the problem," spokesman Geng Shuang said at a briefing.
China will continue to develop cooperation with Venezuela in different fields, Geng said.
The United States will have to bear responsibility for consequences of its sanctions that will lead to lower living standards of Venezuelans, the spokesman added.
Venezuelan President Nicolas Maduro, in turn, accused the United States of an attempt to "steal" Citgo and called the new US sanctions against PDVSA illegal. According to the president, Caracas will take measures to protect its property, including by filing lawsuits with US courts.