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China and Philippines sign oil, gas exploration deal as Xi Jinping meets Duterte

China and Philippines sign oil, gas exploration deal as Xi Jinping meets Duterte

13 Sept 12:16 Key points summarised by AI
  • China and the Philippines finalized a joint oil and gas exploration deal, one of 29 agreements signed during Chinese President Xi Jinping's state visit to Manila.
  • The visit, described by Xi as a "milestone," signifies closer ties and a reorientation of Philippine foreign policy under President Duterte towards China, despite ongoing South China Sea disputes.
  • Both leaders committed to managing contentious issues in the South China Sea through friendly consultation and promoting maritime cooperation, with China aiming for a code of conduct within three years.
  • President Duterte faces domestic criticism for perceived concessions to China and the slow materialization of billions in pledged Chinese loans and investments.
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