total of 29 bilateral agreements were signed between China and the
Philippines during Chinese President Xi Jinping’s visit to the country
These agreements include memorandums of understanding (MOUs) on Belt and
Road construction, oil and gas development and other fields.
Chinese President Xi Jinping and Philippine President Rodrigo Duterte
witnessed the signing of the agreements.
President Xi said China will provide more assistance to projects related
to the Philippines’ livelihood and will continue to enhance cooperation
in areas of infrastructure, telecommunication and agriculture.
China is the Philippines’ biggest trade partner, importer and the fourth
biggest export destination. Last year, bilateral trade volume exceeded
50 billion U.S. dollars for the first time, and China’s direct
investment in the country reached 53.84 million U.S. dollars, up 67
More than 40 exhibitors from the Philippines took part in the just-ended
China International Import Expo in Shanghai.
Business cooperation between the two is also booming. Chinese
enterprises like Tencent, Alibaba and BYD all established business ties
with Philippine enterprises.
China is also the second largest source of tourists to the Philippines.
In the first three quarters of this year, the number of Chinese tourists
to the Philippines reached 972,000, up 34.9 percent from the same period