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GUANGZHOU, June 29 (Xinhua) -- China has finished political and disciplinary inspections of 31 major universities, including Peking and Tsinghua universities.

In the four months, major industrial firms also saw profitability of their primary business edge up 0.53 percentage points to 6.04 percent. By the end of April, their debt-asset ratio dropped 0.6 percentage points to 56.2 percent.

"Political legitimacy comes from competence and prosperity," said Zhang Weiwei, director of the Institute of China Studies under Fudan University. "The CPC experience shows that the ultimate test of a good system is how well it ensures good governance as judged by the people of that country."

He was pleased to elevate bilateral relations to a comprehensive strategic partnership with President Xi during his recent visit to China.

The success of the first BCM meeting represents an important signal that China and the Philippines are jointly moving toward an early conclusion on the Code of Conduct (COC) in the South China Sea, Wu said, while adding that further efforts are needed from all parties on the issue.