ZAMBOANGA CITY, Philippines - One of the two Chinese mining traders, who were abducted in Kabasalan of Zamboanga Sibugay province in southern Philippines last June, has been released by their kidnappers in a coastal village, local security officials said Monday.

The freed victim was identified as Jian Luo, alias James Luo, 43, an executive of a mining company. He was recovered by village officials in Arena Blanco at about 1 am Sunday. The victim was released after reportedly paying a ransom of 5 million pesos ($118, 595). ?

His companion Lin Yuankai, alias Jampong Lin, 38, has remained in captivity.

Prior to Luo's release, security source disclosed that negotiation had taken place between the kidnappers'emissary and the victim's negotiators with support from the Directorate for Integrated Police Operation (DIPO) in a hotel here on Saturday.

The source revealed that the emissary of the victims'family reportedly delivered 5 million pesos in ransom at the parking lot of the hotel to two unidentified men riding tandem who believed to be emissaries of the kidnappers on the same day.

Luo and Lin were abducted on June 4 this year in a village of Kabasalan municipality, Zamboanga Sibugay while trading for mineral ore.