Beijing, Manila agree on $3.7b in shared projects

Officials representing Beijing and Manila shook hands on joint projects worth $3.7 billion on Monday during a meeting in the Chinese capital.

The agreement was the latest evidence of warming ties between China and the Philippines.

While the specific types of deals and locations were not revealed, the package is the initial installment of planned cooperative projects that aims to improve livelihoods, Minister of Commerce Gao Hucheng told reporters at a news briefing. The briefing came after discussions with a delegation led by Philippines Finance Secretary Carlos Dominguez.