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BEIJING, Nov. 30 (Xinhua) -- Chinese analysts have refuted criticism that China is not acting responsibly enough to address the recent increase in tensions on the Korean Peninsula.It is evident that China is actively making diplomatic efforts to ease the tensions and pushing for contacts and talks among relevant parties, they said, adding that these facts should not be ignored.John McCain, a senior U.S. senator said China "is not behaving as a responsible world power" in dealing with the Korean Peninsula situation.The U.S. House of Representatives Committee on Foreign Affairs and the House Armed Services Committee has called on China to suspend economic and energy assistance to the Democratic People's Republic of Korea (DPRK) to show the DPRK consequences for its "aggression."China on Tuesday called for a resumption of dialogue and negotiations amid rising tensions on the Korean Peninsula.(China does not control the DPRK, and China's actions are made out of a respect for other sovereign states and humanitarian considerations, said Zhu Feng, professor at Peking University's School of International Studies.United Nations Security Council Resolution 1874 adopted in June 2009 made it clear measures imposed by the resolution upon the DPRK "are not intended to have adverse humanitarian consequences for the civilian population of the DPRK.""There is serious misunderstanding and hostility between the DPRK and the Republic of Korea (ROK). The best solution is to make every possible effort to bring the parties to negotiation to maintain peace," Zhu said."Only with more contact and dialogue can we ease the current tensions and find a solution acceptable to all," Zhu added.As tensions grow, China has proposed emergency consultations be held next month between the heads of the delegations to the Six-Party Talks, Wu Dawei, Chinese special representative for the Korean Peninsula affairs, said Sunday.The analysts also called for calm and restraint to maintain and promote peace and stability on the Korean Peninsula.The series of large joint military drills between the ROK and the United States in the Korean Peninsula region is unprecedented, and the show of force may sting the DPRK and heighten tensions, said Tao Wenzhao, a research fellow at the Institute of American Studies at the Chinese Academy of Social Sciences (CASS).The ROK and the United States conducted joint military drills in March, June, August and September in the ROK and in waters off the ROK coast.

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, Dec. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang has said finance should play a vital role in the country's macro control policies, while ensuring and improving people's livelihoods should be the priority of public finance.Li, speaking Monday at a national finance work conference, said China would stick to its proactive fiscal policy in 2011 and better handle relations between maintaining steady and relatively fast economic development, restructuring the economy and managing inflation expectations, according to a statement released on Tuesday.The country will also put more focus on stabilizing overall commodity prices and promoting a balance between supply and demand to ensure basic livelihoods for residents, Li said.Chinese Vice Premier Li Keqiang (C) speaks at a national finance work conference in Beijing, capital of China, Dec. 27, 2010. He pointed out that finance should play a larger role in accelerating the transformation of the country's economic development pattern.Fiscal policies should focus on boosting domestic consumption, increasing fiscal and taxation support to innovation, energy saving and industrial upgrading, and deepening the reforms in fiscal and taxation systems to make the systems conducive to the country's scientific development, Li said.China should improve the structure of fiscal expenditure and give fiscal policies full play in adjusting income distribution to improve people's livelihoods, he said.Further, Li said the country would build more affordable housing, step up supervision of the property market, curb speculation and increase its supply of commercial housing.China planned to build 10 million government-subsidized affordable housing units next year, almost doubling this year's target of 5.8 million units.

BEIJING, Jan. 19 (Xinhua) -- The presidium of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee held a meeting Wednesday, preparing for the upcoming Fourth Plenary Session of the 11th CPPCC National Committee, scheduled to open on March 3.The meeting was presided over by Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 34th meeting of chairpersons of the 11th CPPCC National Committee in Beijing, capital of China, Jan. 19, 2011.The meeting examined and approved the draft agenda for the Fourth Plenary Session of the 11th CPPCC National Committee.

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