In this paper, we describe an algorithm that employs syntactic and statistical analysis to extract bilingual collocations from a parallel corpus. Collocations are pervasive in all types of writing and can be found in phrases, chunks, proper names, idioms, and terminology. Therefore, automatic extraction of monolingual and bilingual collocations is important for many applications, including natural language generation, word sense disambiguation, machine translation, lexicography, and cross language information retrieval. Collocations can be classified as lexical or grammatical collocations. Lexical collocations exist between content words, while a grammatical collocation exists between a content word and function words or a syntactic structure. In addition, bilingual collocations can be rigid or flexible in both languages. Rigid collocation refers to words in a collocation must appear next to each other, or otherwise (flexible/elastic). We focus in this paper on extracting rigid lexical bilingual collocations. In our method, the preferred syntactic patterns are obtained from idioms and collocations in a machine-readable dictionary. Collocations matching the patterns are extracted from aligned sentences in a parallel corpus. We use a new alignment method based on punctuation statistics for sentence alignment. The punctuation-based approach is found to outperform the length-based approach with precision rates approaching 98%. The obtained collocations are subsequently matched up based on cross-linguistic statistical association. Statistical association between the whole collocations as well as words in collocations is used to link a collocation with its counterpart collocation in the other language. We implemented the proposed method on a very large Chinese-English parallel corpus and obtained satisfactory results.