Talking about the Belt and Road Initiative, the prime minister said: "I strongly endorse China's vision of a peaceful world based on win-win cooperation and community of shared destiny and a new model of development envisioned in President Xi's Belt and Road Initiative".
BEIJING-China aims to make the Belt and Road Initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations.
The visit will also include a meeting between the Egyptian and Chinese presidents to discuss strengthening the strategic partnership between the two countries to achieve their common.
He, along with other leaders, will attend the leaders' roundtable sessions on the event's second day.
Philippine President Rodrigo Duterte (L) arrives for a meeting with Chinese President Xi Jinping at the Great Hall of People in Beijing on April 25, 2019.
Xi launched the Belt and Road initiative in 2013, the total value of projects in the scheme is at $3.67 trillion, spanning countries in Asia, Europe, Africa, Oceania and South America, according to Reuters.
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"Both agree that the situation can be managed by the mechanism of bilateral negotiations but it should not affect the cooperation being undertaken by both the Philippines and China and they look forward to a productive discussion on matters of mutual concern and interests", Panelo said. Duterte also congratulated China on its 70th founding anniversary and said Xi's state visit to Manila in November past year was a "watershed moment" in the Philippines-China ties.
The signing of business deals with China follows reports of sightings of hundreds of Chinese vessels off the Philippine-occupied Pag-asa Island in the West Philippine Sea, as well as the pillaging of giant clams by Chinese fishermen in another area of the disputed waters.
"China is a lasting and reliable friend of the Philippines", Duterte said, adding that the Philippines will stick to an independent foreign policy.
Unlike the first summit in 2017, where Xi said Chinese banks will lend 380 billion yuan ($56.4 billion) to support BRI cooperation, he did not give a figure for new financing support.
Romana said a suit filed by former Philippine officials against Xi and other Chinese officials before the International Criminal Court would not affect Philippine-China relations. "China inquired whether it was state-sponsored, [and the] Philippines said it's not", Sta.