A fleet of 400 made-in-China taxi cars arrived here on Sunday, the first shipment of an agreement to supply this South American country with 20,000 Chery cars, said a senior Venezuelan official.

"In 2015, we will bring 10,000 taxis, and the remaining 10,000 in 2016," said Venezuelan transport minister Haiman El Troudi, adding that "financing will be via state banks."

Each equipped with a security camera and dual-band radio, the Chinese-made taxi cars run on a combination of gas and gasoline.

The financing plan was launched in 2014 by Venezuelan President Nicolas Maduro to help modernize the nation's public transport sector.

The Venezuelan government also imported China-made Yutong buses and is building a motor coach plant with the Chinese help in order to upgrade the country's public transportation.

The bus factory, upon its completion, will be able to produce 3,500 buses a year. It is expected to meet Venezuela's domestic needs first and then export buses to other countries in the Latin American region.