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BEIJING, Nov. 28 (Xinhua) -- China National Offshore Oil Company Limited (CNOOC) said Sunday Bridas Corporation, a joint-venture equally-owned by CNOOC International Limited and Argentina-based Bridas Energy Holdings (BEH), will acquire a 60 percent equity interest in Pan American Energy (PAE) from BP for approximately 7.06 billion U.S. dollars.The acquisition excludes PAE's assets in Bolivia, according to a statement on the website of CNOOC, China's largest offshore oil and gas producer.CNOOC International, a wholly owned subsidiary of the company, and BEH have agreed to contribute about 4.94 billion U.S. dollars to Bridas to finance 70 percent of the proposed acquisition. The contribution will be made in equal amounts of approximately 2.47 billion U.S. dollars by CNOOC International and BEH.The remaining 30 percent, or approximately 2.12 billion U.S. dollars, will be satisfied by third party loans to be arranged by Bridas and additional contributions from CNOOC International and BEH.Completion of the acquisition is conditional on, among others factors, all necessary government and regulatory approvals, and is expected to take place in the first half of 2011.In the first half of 2010, CNOOC International and BEH completed the formation of a half-half joint venture in Bridas.

BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.

ISLAMABAD, Dec. 19 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday called upon top Pakistani lawmakers to strengthen bilateral parliamentary exchanges and help promote the two countries' partnership.During his meeting with Senate Chairman Farooq Hamid Naek and National Assembly Speaker Fehmida Mirza, Wen appreciated the efforts by Pakistani parliamentary political parties to improve their country's relations with China.Beijing encourages the Pakistani parliament to enhance communication with the Chinese side and help bring bilateral pragmatic cooperation to higher levels and more tangible benefits to the two peoples, Wen added.Chinese Premier Wen Jiabao (2nd R) meets with Pakistan's Senate Chairman Farooq Hamid Naek (1st L) and Speaker of Pakistan's National Assembly Fahmida Mirza (1st R) in Islamabad, capital of Pakistan, Dec. 19, 2010.The very objective of his visit, he said, is to demonstrate that China firmly supports Pakistan in post-disaster reconstruction and its efforts to seek economic development and maintain stability. China also asks the international community to extend helping hands to flood-hit Pakistan.Wen said his three-day visit has produced significant results and breathed new life into bilateral relations.Deep-rooted friendship between the two neighbors should be treasured by both nations, said Wen.Calling the Pakistan-China friendship all-around, Naek and Mirza said Pakistan attaches great importance to ties with China.The Pakistani parliament is willing to enhance friendly exchanges with China's National People's Congress and the Chinese People's Political Consultative Conference, and help deepen friendship between the two peoples and consolidate relations between the two countries, they said.

BEIJING, Nov. 25 (Xinhua) -- China's central bank warned about the risk of credit card related bad debt on Thursday as money owed 180 days past the due date was on the rise in the third quarter.Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan (1.19 billion U.S. dollars) by the end of the third quarter, up 8.5 percent from the second quarter, according to a statement released Thursday on the website of the People's Bank of China.Taking this into account, the central bank warned commercial banks to pay close attention to risks associated with credit card related bad debt.Money owed 180 days past the due repayment date accounted for 2.1 percent of the total amount of debt by the end of the third quarter, down 0.4 percentage point from the second quarter, according to the statement.

BEIJING, Jan. 4 (Xinhua) -- Remote villages across Yongning County of northwest China's Ningxia Hui Autonomous Region have been connected to a safe water supply thanks to a newly-completed water project.The project, launched in August 2010 and concluded on Nov. 27, has ensured that 100,000 people in 44 villages of Yongning will have access to safe water for drinking.People in the county had long suffered from a severe shortage of safe water because the area's surface water contained excessive amounts of fluorin and iron.The project was initiated after local authorities increased their efforts to provide safe drinking water after Chinese President Hu Jintao visited the region.During an inspection to a well-drilling site at Yuanlin Village of southern Yongning on March 23, 2010, President Hu stressed that efforts be made to ensure more people have access to safe water supplies.

来源：资阳报