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Source: http://www.nytimes.com/2009/09/30/world/asia/30china.html
China's Ties with Iran Complicate Diplomacy
[New York Times] Michael Wines - As the U.S. issues new calls to punish Iran for secretly expanding its nuclear program, it is not at all clear that Washington's interests are the same as Beijing's. In June, China National Petroleum signed a $5 billion deal to develop the South Pars natural gas field in Iran. In July, Iran invited Chinese companies to join a $42.8 billion project to build seven oil refineries and a 1,019-mile trans-Iran pipeline. In August, Tehran and Beijing struck a $3 billion deal for China to help Iran expand two more oil refineries. China's economic links to Tehran are growing rapidly, and China's leaders see Iran not as a threat but as a potential ally. China relies heavily on Iran's vast energy reserves and has been Iran's biggest oil export market for the past five years. In return, Iran has loaded up on imported Chinese machine tools, factory equipment, locomotives and other heavy goods, building China into one of its largest trading partners.