"China has indicated that it would not support taking Iran to the U.N. Security Council over its nuclear weapons program while signing a 25-year, $100 billion oil/gas deal with Iran. China's decision obviously pleased Tehran."
"China also worked hard against a strong U.N. resolution on the genocide in Sudan, which would have placed economic sanctions on the Sudanese government, in an effort to protect its $3 billion oil investment there. Khartoum could not have been happier with China's support."
"Petroleum leads the list of resources South American states have to offer China. Venezuela is the world's fifth largest producer of petroleum that produces 2.5 million barrels per day, providing the United States with 13-15 percent of its oil imports. China has invested over $1 billion in petroleum projects in Venezuela and is positioning itself to invest nearly $350 million to extract oil from eastern Venezuelan oil fields, as well as an additional $60 million in natural gas wells. China is also seeking to purchase petroleum from Ecuador, Argentina, Colombia, and Mexico.
Latin America is an important source of a variety of minerals and food items as well. Aluminum, copper, iron, and soybeans constitute a large part of China's imports from Latin America. For commercial purposes, China also obviously has a strong interest in the Panama Canal and access to good port facilities in the Caribbean.
During his visits to Brazil and Argentina in November 2004, Chinese President Hu Jintao announced plans to invest $100 billion in Latin America over the next decade, primarily for infrastructure and energy projects. These investments made by the Chinese government will undoubtedly bring political influence as well."
http://www.heritage.org/Research/Asi...ific/hl873.cfm