China said it is willing to jointly explore oil and gas resources in the non-disputed areas of the sea.
China promised cooperation, investment
Beijing territorial claims in the South China Sea, which is rich in oil, gas and fish and where about $3 trillion in ship-borne trade passes annually, had been a source of tension between it and some Southeast Asian countries, including the Philippines. Marcos said he received Xi’s promise for a compromise and solution that could allow Philippine fishermen to operate in their historic fishing grounds.
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