China economic relations, occurred against a backdrop of more vigorous Chinese efforts to channel its booming economic wealth into takeover activity. Chinese state-run oil firm CNOOC Ltd. has made an $18.5 billion cash offer for U.S. producer Unocal, pitting it against Chevron Corp which also wants to acquire Unocal. In response to question, Snow said if the Unocal-CNOOC deal proceeds, it likely would be voluntarily submitted for review by the Committee for Foreign Investment in the U.S. (CFIUS) to assess whether it affected national security. --More 2124 Local Time 1824 GMT
