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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, Nov. 16 (Xinhua) -- China exported 16,000 tonnes of rare earth to Japan in the first nine months of the year, equivalent to 49.8 percent of its total rare earth exports, the Ministry of Commerce (MOC) said Tuesday.The figure was a 167-percent year-on-year rise, MOC spokesman Yao Jian said at a press conference.Exports to the United States increased 5.5 percent year on year to 62 million tonnes during the same period, equivalent to 19 percent of China's total rare earth exports.China exported 32,200 tonnes of rare earth in the first nine months of the year at an average price of 14,800 U.S. dollars per tonne.Yao said the Chinese government has tightened regulations concerning the development, production and export of rare earth out of concern for the environment.China cut its 2010 rare earth export quota 39 percent year on year while rare earth development and production capacities were reduced by 25 percent and 23 percent, respectively, he said.In addition, China has added a 15- to 25-percent export duty on rare earth exports while banning the export of 41 rare earth-related processed products.China's restrictive policies have been criticized by Japan, the United States and European countries. They said China's restrictions on rare earth exports violate World Trade Organization rules. China refutes such claims."China's restrictive measures comply with WTO rules, as the steps were taken in the whole process of exploitation, production and export," Yao said.China continued to export rare earth in recent years even as environmental pressures grew and resource-depletion approached, he added.He said China hopes other rare earth-rich nations will develop their own resources while adding that China is ready to cooperate with other nations to mine and process rare earth in an environmentally-friendly way.Rare earth is a key component in the manufacture of high-tech products ranging from computers to airplanes. But mining rare earth is a highly-polluting process.With a 90 percent share of the world rare earth trade, China's export quotas are a sensitive issue. In early November, the MOC denied suggestions there would be a drastic reduction in 2011 rare earth export quotas.

BEIJING, Jan. 4 (Xinhuanet) --The amendment of China's organ transplant regulations is being prepared and may be out in March after revision, said Vice-Health Minister Huang Jiefu."It will give legal footing to the Red Cross Society of China to set up and run China's organ donation system," he told China Daily.The organ transplant regulations that the amendment will update have been in use since 2007."With the amendment, China will be a step closer to building up a national organ donation system, which is being run as a pilot project in 11 provinces and regions now, and thus ensure the sustainable and healthy development of organ transplants and save more lives," he said.The Red Cross Society's responsibilities will include encouraging posthumous voluntary organ donations, establishing a list of would-be donors and drawing up registers of people waiting for a suitable donated organ.The long-awaited system will be available to everyone in China (excluding prisoners) wanting to donate their organs after their death in the hope of saving lives.Currently, about 10,000 organ transplants are carried out each year on the Chinese mainland. It is estimated that around 1.3 million people are waiting for a transplant.However, there had been a lack of a State-level organ donor system before a trial project was launched in March 2010. Currently, organ donations have come mainly from volunteers and executedprisoners with written consent either from themselves or family members. The process has been put under strict scrutiny from the judicial department, according to the Ministry of Health."An ethically proper source of organs for China's transplants that is sustainable and healthy would benefit more patients," Huang said.He said a trial project run by the Red Cross Society and the Ministry of Health, which was started last March in 11 regions, has led to 30 free and voluntary organ donations."As the pilot gradually expands nationwide, more people will be willing to donate in China."He said willing organ donors, who die in traffic accidents or because of conditions such as a stroke will be the most suitable.Huang stressed that a compensatory aid program for organ donations will also be necessary and he suggested that donors' medical bills and burial fees should be covered and a tax deduction offered, rather than a fixed cash sum paid.Luo Gangqiang, a division director in charge of organ donation work with the Red Cross Society in Wuhan - one of the 11 trial regions - said cash compensation in some areas has prompted potential donors to shop around when deciding whether to donate."Few details concerning the system have been fixed so far," he told China Daily.Luo noted that his region is currently offering donors 10,000 yuan (,500) in compensation, which is less than the amount on offer in Shenzhen, another area participating in the pilot project.He said the money is mainly from hospitals receiving the organs.In other words, "it's finally from the recipients", he said.Many of the pilot areas are trying to set up special funds mainly to compensate donors in various forms, according to Luo."Donations from transplant hospitals, recipients, corporations and the general public are welcome."The money will also be used to support the work of coordinators, mainly nurses working in ICUs, he noted.Luo also pointed out a pressing need for brain death legislation to be brought in to help their work. Worldwide more than 90 countries take brain death as the diagnostic criterion to declare death.Given the limited understanding among the public and even some medical workers about when brain death happens and when cardiac arrest happens coupled with various social and cultural barriers to removing organs, "legislation on brain death won't come shortly", Huang said.For the official standard, "we should advise cardiac death at present as a death standard for donations", he said.But he also suggested that cardiac death and brain death could coexist and that Chinese people could be allowed to choose which one they want as the criterion for their own donations, based on individual circumstances and free will."The health ministry will promote brain death criterion at the appropriate time, when people can understand concepts such as brain death, euthanasia, and vegetative states," he said.Meanwhile, efforts are under way including organizing training, publishing technical diagnostic criteria and operational specifications on brain death among doctors to enhance their awareness.So far, China has an expert team of more than 100 people capable of handling brain death related issues, Huang noted.

SEOUL, Nov. 11 (Xinhua) -- Chinese President Hu Jintao held bilateral talks on Thursday with the presidents of South Korea, the United States and Russia, respectively, to discuss bilateral relations as well as regional and international issues including global economic recovery.The meetings took place after Hu arrived in Seoul earlier in the day for the summit of Group of 20 (G20) major economies in Seoul.RELATIONS WITH SOUTH KOREAWelcoming President Hu, South Korean President Lee Myung-bak said he believed China would play an important role in promoting international economic cooperation within the G-20 framework.The two presidents reached a consensus on further strengthening the bilateral relations and on how to successfully hold the G-20 summit.The healthy and stable development of China's economy is very important to the development of Asia and also to the recovery of the world's economy, Lee said.The South Korean president also voiced hopes for the two countries to strengthen their exchange activities with an aim to increase mutual trust and further develop their bilateral strategic partnership.Hu said the Seoul G-20 summit is the first to be held in an Asian country and also in an emerging market economy.Hu stressed that China and South Korea are important neighbors and partners and that China is willing to work with South Korea to advance the bilateral strategic partnership into a comprehensive one.Hu said China has always supported the improvement of relations between the Democratic People's Republic of Korea and South Korea."China is willing to play a constructive role in this regard," he said.Lee expressed his appreciation for China's efforts in maintaining peace and stability on the Korean Penisula.

BEIJING, Jan. 6 (Xinhua) -- Chinese Vice President Xi Jinping Wednesday urged officials to pay more grassroots visits to listen to opinions from the masses and take more practical actions in people's interests.Xi, president of the Party School of the Communist Party of China (CPC) Central Committee, made the remarks while talking to officials studying at the school.Stressing efforts to forge closer relations between the CPC and the masses, Xi, also a Standing Committee member of the Political Bureau of the CPC Central Committee, said officials should always think like the masses and devote themselves to the work for the public's good.He also called on officials to spare no efforts in eliminating public grievances and safeguarding people's interests, as well as calling for more cordiality in handling work concerning the masses.Further, he encouraged CPC officials to step up learning, especially of socialist theories with Chinese characteristics and always learn more about the latest achievements in combining Marxism with China's reality.