China began withdrawing a massive oilrig away from the Paracel Islands in the South China Sea and waters claimed by Vietnam and far south of China’s International Maritime Border.  The move significantly ratchets down tensions in the region.

Beijing did this on its own terms, announcing that its exploration mission had been completed in waters that it claims as its own.  Moving the rig into the area in May triggered outrage in Hanoi and sparked days of anti-Chinese riots.  But it also exposed Vietnam’s inability to militarily force its larger neighbor away from its waters.

The mission was originally supposed to end a month from now, but Beijing apparently found out what it wanted to learn.  China's Foreign Ministry said oil and gas has been discovered during the operation, but was assessing the data gathered before deciding its next move.