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China is now the Philippines' largest trade partner, largest source of imports and its fourth-largest export destination. Bilateral trade reached .2 billion last year, a year-on-year increase of 8.5 percent.

China is predicted to spend 2.8 trillion yuan (1 billion) in the digital transformation this year, and the figure is expected to surge to 3.2 trillion yuan in 2020 and 3.7 trillion yuan in 2021. Manufacturing (220.5 billion yuan), governments (193.4 billion yuan) and financial services (145.5 billion yuan) are the top three sectors in spending for the digital transformation in 2019, according to Deloitte.

China has resumed construction at almost three-quarters of its 110 major water conservancy projects, despite the novel coronavirus outbreak and unfavorable weather conditions, the Ministry of Water Resources said.

China is fully capable and confident in winning the battle against the epidemic caused by the novel coronavirus and has the confidence to minimize the impact on the economy, he said, adding the impact is temporary and will not change the economy’s long-term fundamentals.

China is pleased the United Nations is playing a constructive role in trying to push forward a resolution of the nuclear issue on the Korean Peninsula, Foreign Ministry spokesman Geng Shuang said on Tuesday.