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Full Article Follow Reuters Facebook Twitter RSS YouTube Read Gaddafi son Saif at Tripoli hotel after arrest report | 22 Aug 2011 The Kardashian Nuptials -- Wretched Excess of Charity Cheapskates? 22 Aug 2011 Goldman CEO hires prominent defense lawyer | 22 Aug 2011 Kardashian Wedding Leaves Santa Barbara Police Fielding More Than 20 Calls 22 Aug 2011 Son rallies loyalists for Gaddafi's Tripoli fightback | 3:26am EDT Discussed 259 GM says bankruptcy excuses it from Impala repairs 244 UPDATE 3-White House denounces Perry as Republicans target Fed 153 Obama accuses Congress of holding back U.S. recovery Watched Una Healy got naked on holiday Sat, Aug 20 2011 Lockheed Martin presents airship of the future Thu, Aug 18 2011 Muammar Gaddafi's son Mon, Aug 22 2011 China urges Libya to protect investments Tweet Share this Email Print Related News Gaddafi on the run as rebels fight in Tripoli Mon, Aug 22 2011 Analysis: Investors eye promise, pitfalls in post-Gaddafi Libya Mon, Aug 22 2011 Gaddafi's son Saif arrested in Libya: ICC Sun, Aug 21 2011 Rebels enter Tripoli, crowds celebrate in streets Sun, Aug 21 2011 Blasts and gunfire rock Tripoli Sat, Aug 20 2011 Analysis & Opinion Top ten myths about the Libya war End game in Libya could herald oil slump Related Topics World » China » Libya » BEIJING | Mon Aug 22, 2011 11:21pm EDT BEIJING (Reuters) - China on Tuesday urged Libya to protect its investments and said their oil trade benefited both countries after a Libyan rebel official warned that Chinese oil companies could lose out after the ousting of Muammar Gaddafi. "China's investment in Libya, especially its oil investment, is one aspect of mutual economic cooperation between China and Libya, and this cooperation is in the mutual interest of both the people of China and Libya," the deputy head of the Chinese Ministry of Commerce trade department, Wen Zhongliang, told a news conference. Wen was answering a question about an official at the Libyan rebel oil firm, AGOCO, who said on Monday that Russian and Chinese firms may lose out on oil contracts for failing to support the rebellion against long-time leader Gaddafi. "We hope after a return to stability in Libya, Libya will continue to protect the interests and rights of Chinese investors and we hope to continue investment and economic cooperation with Libya in the future," said Wen. China did not use its U.N. Security Council veto power in March to block a resolution that authorized the NATO bombing campaign against Gaddafi's forces, but it then condemned the strikes and urged compromise between his government and rebels. Since then, however, Beijing has courted Libyan rebels by hosting their leaders and sending envoys for talks. On Monday, the Chinese Foreign Ministry said Beijing will respect the will of the Libyan people and hopes for a return to stability in the war-torn country, where fighting continues in the capital Tripoli. Rebel leaders promised last week to honor China's business contracts in the country and requested China's help in rebuilding Libya once they ended Gaddafi's rule, Xinhua reported earlier. China earlier praised Libya's rebel National Transitional Council as a major political force in Libya and an important dialogue partner. Libya supplied 3 percent of China's imported crude oil last year. (Reporting by Michael Martina and Langi Chiang, Writing by Chris Buckley; Editing by Ken Wills) World China Libya Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) Fancy433 wrote: China seems to be the last one to know about what is happening in Libya. I guess that all important investment is in the oil they want to buy. That would be about all the Chinese are worried about. You can throw Russia in to the mix as long as it doesn’t cost them red cent or any real-estate. Aug 23, 2011 1:03am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) 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