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BEIJING, Dec. 6 (Xinhua) -- Chinese credit rating firm Dagong Global Credit Rating assessed the sovereign credit rating of Ireland at BBB in its third sovereign or regional credit rating report released Monday.Dagong's credit rating of Ireland is lower than that given by Moody's, Standard and Poor's and Fitch."Dagong made its assessment based on factors such as Ireland's increasing debt level, the administrative capability of its government, economic and financial strength," Dagong Global said.Dagong Global's announcement follows the proposed 85-billion-euro bailout of debt-hit Ireland by the European Union and the International Monetary Fund.Dagong's report also rated four other nations - Finland, Uruguay, Kenya and Sudan.In terms of domestic currency-denominated debt, Finland received the firm's top AAA rating, but with a negative outlook.Uruguay was rated BB-plus while Kenya received a B rating.Sudan was rated C, the nation's first sovereign credit rating.Dagong Global uses a three-level assessment system, with each level containing three sub-levels. For example, AAA, AA and A.The rating agency published sovereign credit ratings in two earlier reports. One on July 11 rated 50 countries. The second on October 20 rated nine countries and regions.Founded in 1994, Dagong Global is a pioneer in the rating of industry, region and sovereign debt. It is also a leading credit rating firm for corporate bonds, financial bonds and structured debt.

BEIJING, Dec. 2 (Xinhua) -- Chinese Vice Premier Li Keqiang Thursday called for more efforts to tap ocean resources and protect the ocean's environment.In the past five years, China has made remarkable progress in oceanic work, especially in developing an ocean economy, protecting seawater environment and safeguarding orders on the seawater, he said while meeting with outstanding organizations and individuals selected from the national ocean systems.However, the public's demand on seawater products and services has been increasing and the tasks are arduous to protect the ocean's ecology and ensure sustainable development, he said.Chinese Vice Premier Li Keqiang (R, front) meets with the outstanding units and workers from the national ocean systems, in Beijing, capital of China, Dec. 2, 2010.He urged more efforts be made to implement the scientific outlook on development and accelerate the transformation of economic development patterns in planning the development of the oceans, protecting seawater ecology and improving anti-disaster capacities.

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, Nov. 17 (Xinhua) -- China and Chile celebrated the 40th anniversary of bilateral diplomatic ties at a reception here Wednesday.Chinese State Councilor Liu Yandong and visiting Chilean president Sebastian Pinera attended the reception, which was held by Chilean Embassy.China was ready to take the opportunity of this anniversary to push forward Sino-Chilean relations, Liu said when addressing the reception.Noting Chile was the first Latin American country to establish diplomatic ties with China, Liu said the Chinese government attached great importance to developing the bilateral ties from strategic perspective.Pinera, on his first China visit since taking office as Chilean president in March, expressed the willingness to expand cooperation and friendship with China, and he hailed the progress made in bilateral cooperation since the two countries forged ties in 1970.Chile is China's second biggest trade partner in Latin America and China is Chile's biggest trade partner. Bilateral trade last year rose 2.1 percent to 17.72 billion dollars.China and Chile forged a comprehensive cooperative partnership in 2004.

WASHINGTON, Dec. 14 (Xinhua) -- China and the United States on Tuesday kicked off their annual trade talks in Washington D.C..Visiting Chinese Vice Premier Wang Qishan co-chaired the 21st Joint Commission on Commerce and Trade (JCCT) meeting with U.S. Commerce Secretary Gary Locke and Trade Representative Ron Kirk.High-ranking officials of both countries started their talks in small groups on Tuesday afternoon.Chinese Vice Premier Wang Qishan (L) shakes hands with U.S. Commerce Secretary Gary Locke prior to their meeting in Washington D.C, capital of the United States, Dec. 14, 2010. High-ranking officials of China and the United States started their talks in small groups here on Tuesday afternoon as part of the 21st Joint Commission on Commerce and Trade (JCCT) meeting.The plenary session of the 21st JCCT meeting will be held on Wednesday. In addition to talks on investment, trade, intellectual property right and other issues, it is expected that the two sides will sign a number of bilateral agreements on governmental cooperation at the talks later that day.The JCCT began in 1983 as a platform for both countries to promote trade and address issues of mutual concern.The 20th JCCT was held in east China's Hangzhou City on Oct. 28- 29, 2009.