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Security cooperation is a focus of bilateral cooperation, Geng said. "China firmly supports President Duterte's efforts in drug control, fight against terrorism and transnational crimes, and help the Philippine government maintain the peace and tranquility of the country."

Recent years have seen the government's relentless efforts in cutting red tape in light of market bottlenecks and bringing the country up to advanced global standards in terms of business-friendliness. These reform endeavors have achieved notable results.

The company will cancel the business of two cargo ships next month, said an executive of one of the shipping firms, who is in charge of business in south China.

The parties expressed their willingness to continue to uphold the notion of open cooperation, equal consultation, mutual benefit and win-win cooperation, strengthen cooperation in the areas of economy, trade, investment, transportation, energy, tourism, education, and between local areas to maintain multilateralism and free trade, and oppose protectionism, so as to promote the 16+1 cooperation for new progress.