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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.

NARA, Japan, Jan. 18 (Xinhua) -- Chinese Culture Minister Cai Wu met with Seiichi Kondo, Commissioner for Cultural Affairs of Japan, Yu In-Chon, Minister of Culture, Sports and Tourism of South Korea on Tuesday in Japan's Nara for the 3rd China-Japan- South Korea Ministerial Conference on Culture.The officials exchanged views on China-Japan, China-South Korea bilateral cultural exchanges and cooperation.During the meeting with Kondo, Cai said that the scale and number of China-Japan cultural exchanges rank the first in international cultural exchanges in China and China is willing to develop the bilateral relations on a strategic and long-term point of view.China will enhance the strategic and mutually beneficial relationship between the two countries through cultural exchanges and cooperation, he added.This year, the Chinese Ministry of Culture, with the joint efforts of the two countries' concerned departments, will hold China-Japan "Animation Festival" as well as "Television Week."Seiichi Kondo agreed with Cai's comments on China-Japan cultural exchanges and cooperation and added that although China and Japan experienced some political twists and turns, Japan always attaches great importance to and actively promote the bilateral cultural exchanges and cooperation.Japan is willing to work hand-in-glove with China in regional cooperation and contribute to improving the bilateral relationship, the Japanese official said.During the meeting with Yu In-Chon, Cai said that with the joint efforts of the leaders and different circles from both countries, China-South Korea cultural exchanges have become an important part of the bilateral strategic partnership.The South Korean minister said the width and depth of cultural exchanges have been expanded year by year. In recent years, the two countries have learned from each other in the fields of culture and art, performance and exhibition, cultural relics reservation, and intangible cultural heritage.Yu In-Chon said he fully agrees with Cai's comments and prospects on China-South Korea bilateral cultural exchanges and cooperation and is willing to work with China to actively promote personnel exchanges, exchanges of troupe performances, and exchanges programs for the youth, in order to deepen the understanding and enhance the feelings between the two peoples.The 3rd China-Japan-South Korea Ministerial Conference on Culture will be officially held on Wednesday.

BEIJING, Nov. 23 (Xinhua) -- China aims to better protect lawyers' rights and facilitate their work through enhanced financial and policy support, according to the Ministry of Justice.The ministry also intends to intensify supervision on the work of lawyers and law firms against unsound practices, it said on Tuesday.Efforts will be made to better protect lawyers' rights to meet with their clients in police custody and facilitate their rights to review documents, conduct necessary investigations and collect evidence, the ministry said in a written interview with Xinhua Tuesday.The ministry, which has recently issued a circular on its proposal to further improve the work concerning lawyers, called for a system to guarantee funding for lawyers' work."Lawyers should be subsidized if working as legal advisors to the government or providing legal services for the public interest," the ministry said.Also, government agencies are urged to continue their financial support for those government-funded law offices in underdeveloped regions of the country and offer more funding for lawyers' training.The ministry called on courts and prosecution agencies to recruit more judges and prosecutors from outstanding lawyers and encouraged government bodies to select more qualified lawyers to work as civil servants.Meanwhile, China will improve the evaluation of lawful practices undertaken by the country's lawyers and increase supervision over the work of law offices and lawyers, according to the ministry."Judicial administration departments should conduct annual checks of law firms' work while bar associations should check lawyers' lawful practices every year," it said.It called for intensified checks for unsound practices of law firms or lawyers, including those of undermining justice in law enforcement, public order, or legal rights and interests of the masses."Lawyers who ignore or violate laws and regulations governing lawyers' practices should be dealt with seriously, including expulsion from the legal profession," the ministry said.Conditions and procedures which applicants should meet and pass before becoming certified lawyers must be strictly followed, the ministry said.According to the ministry, the number of certified lawyers and law firms in China exceeded 166,000 and 15,000, respectively, at the end of 2009.

BERLIN, Jan. 6 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here Thursday that China and Germany should join hands in expanding economic cooperation to achieve mutual benefits.Speaking at a dinner with German and Chinese business representatives, Li said that China has the capability and condition to maintain steady and relatively fast economic growth in the long run.But he added China is still a developing country and that it needs to make long-term and strenuous efforts to achieve its modernization goals and enable all the Chinese people to enjoy the benefits of economic and social development.On China-Germany relations, Li said that the two countries, through close cooperation and coordination, have achieved an early and robust recovery from the global financial crisis.Chinese Vice Premier Li Keqiang delivers a speech during an evening dinner with Chinese and German business people in Berlin, Germany, Jan. 6, 2011. He noted bilateral trade is expected to exceed 140 billion U.S. dollars last year, 30 times more than that of 1990.The Chinese leader said both sides should broaden fields of cooperation and set up new mechanism of collaboration.The two countries should not only deepen cooperation in traditional areas like machinery, chemical industry and automobile industry, but also explore new cooperation in new energy, new material, energy efficiency, environmental protection, low-carbon technology and green economy, Li said.He called for more two-way investment, adding that bilateral trade still has great potential for further expansion.Li also expressed the hope that Germany keeps its market open and opposes trade protectionism along with China.He said that China will take a more open attitude to the outside world, and will continue to improve investment environment, and provide a fair, stable, orderly, transparent and predictable market environment for all foreign companies in China.While stressing that both sides should expand technological cooperation, Li urged Germany to simplify visa procedures for Chinese businesspersons, and to help relax European Union (EU) restrictions on high-tech exports to China.In addition, the two sides should intensify cultural and people-to-people exchanges, laying a more solid foundation for bilateral ties, Li said.Stressing that China attaches great importance to its relations with the EU, Li said China wants to see a united and prosperous EU, and hopes to promote political mutual trust, deepen pragmatic cooperation with the bloc and push forward the Sino-EU comprehensive strategic partnership to a higher level.Li expressed confidence that Europe will overcome its current economic and fiscal difficulties, and maintain its economic stability and healthy growth.Earlier on Thursday, Li met with German Economy Minister Rainer Bruederle.The German minister pledged to advance Germany-China economic ties and invited China to be the partner country of the Hannover Fair 2012, the world's largest industrial fair.Accepting the offer, Li said that China is willing to use the platform to showcase "made-in-China" products and boost exports of Chinese manufactured goods.The Chinese vice premier arrived in Berlin earlier in the day, kicking off a four-day official visit to Germany. He is due to hold talks with German Chancellor Angela Merkel and meet President Christian Wulff and Foreign Minister Guido Westerwelle on Friday.Before arriving in Germany, Li had visited Spain. He will later travel to Britain, the last leg of his three-nation European tour.

BEIJING, Nov. 9 (Xinhua) -- The third China-UK Economic and Financial Dialogue concluded here Tuesday, with both sides coming out of it committed to a range of policies to return the world economy back to strong and sustainable growth.While addressing the press after the one-day dialogue, Chinese Vice Premier Wang Qishan, who hosted the talks, said both China and the UK agreed the world should "jointly promote strong, sustainable and balanced global growth."According to the combined policy outcomes of the talks, both sides have recognized although the global economic recovery is underway, it remains uneven.The two nations "pledged to continue implementing economic policies conducive to sustainable economic growth," while "the UK has committed to a clear, credible, ambitious and growth-friendly medium-term fiscal consolidation plan," said the document.Chinese Vice Premier Wang Qishan (L) and UK Chancellor of the Exchequer George Osborne pose for photos during a press conference after the third China-UK Economic and Financial Dialogue in Beijing, capital of China, Nov. 9, 2010. Wang Qishan and George Osborne co-chaired the third China-UK Economic and Financial Dialogue here Tuesday. China, for its part, is committed to speeding up transformation of its economic development pattern and further strengthening the "role of domestic demand" in boosting economic growth.The upcoming Group of 20 (G20) summit in Republic of Korea (ROK)'s capital of Seoul was also highlighted in the bilateral discussion.Strongly supporting the G20 as the major forum for their international economic cooperation, the two countries welcomed the ambitious agreement reached by the G20 Finance Ministers and Central Bank Governors at Gyeongju, ROK, to reform the IMF's quota and governance.These reforms aim to help deliver a more "effective, credible and legitimate IMF, and enable the IMF to play its role in supporting the operation of the international monetary and financial system."The policy outcomes also call for further bilateral ties in trade and investment, including high technology and infrastructure."The UK is already one of the most open economies in the world to trade and inward investment and welcomes more Chinese investment, including from sovereign wealth funds," said UK Chancellor of the Exchequer George Osborne who co-chaired the talks with Wang.Both China and the UK said they would resist all forms of protectionism, and continue working together to further lower trade barriers and make efforts for a comprehensive and balanced conclusion to the Doha Development Round.The UK also reaffirmed its support for China's full market economy status at as early a date as possible and will continue to play a constructive role to encourage EU recognition.The two nations also vowed to drive forward the reforms of international financial regulation and supervisory standards, and to enhance transparency and accountability in the financial sector.