China stands by Maduro in Venezuela to safeguard its investments

China's President Xi Jinping, left, claps with his Venezuelan counterpart Nicolas Maduro at Miraflores Palace in Caracas, Venezuela, July 20, 2014. [Reuters]

Venezuela's recent presidential election results have sparked widespread protests domestically and drawn sharp criticism internationally. While the U.S. has thrown its support behind opposition challenger Edmundo Gonzalez, China and Russia swiftly endorsed the incumbent, Nicolas Maduro, who has held power for 12 years.

On Monday, Venezuela's electoral council declared that the president had secured 51% of the vote, compared to 44% for Gonzalez. These results starkly contradicted exit polls, which had shown Gonzalez leading by a significant margin.

The Carter Center, which was invited to observe the election, issued a statement that the vote "did not meet international standards of electoral integrity" and declared the outcome "cannot be considered democratic.