Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Enflame Surges 188% in Shanghai Debut as AI Chip Boom Continues
Moonshot AI Expands Enterprise Push Through IT Services Partnerships
Ant Group Rolls Out AI Payment Trust System to Break Agent-Commerce Bottleneck
LATEST
Ant Group Rolls Out AI Payment Trust System to Break Agent-Commerce Bottleneck
Enflame Surges 188% in Shanghai Debut as AI Chip Boom Continues
AI Boom Could Undermine China’s Push for Consumption-Led Growth, Economists Warn
Moonshot AI Expands Enterprise Push Through IT Services Partnerships
Tech Monopolies Could Blunt AI’s Economic Gains, Warns Nobel Laureate Aghion
China’s DeepSeek Launches Smaller, Faster AI Model
In Depth: AI Distillation in China Leaves U.S. Tech Giants at Odds
Arm Lands Lenovo, ByteDance Unit as First China Customers for AGI Chip
JD.com Unveils AI Logistics Push With 100,000-Chip Cluster, Millions of Robots
China Moves to Rein In AI-Era Counterfeiting and IP Disputes
Huawei Unveils First Mass-Produced Logic-Folding Chip in New Tri-Fold Phone
ByteDance Gets $29.6 Billion Loan to Fuel AI Ambitions
Chinese Auto-Parts Makers Tap Online Sales to Crack Global Vehicle Aftermarket
Chinese Cloud Firms’ AI Spending to Trail U.S. Peers as Infrastructure Gap Widens, Moody’s Says
Tencent Opens WorkBuddy Platform to Third Parties in Enterprise AI Push
Manus Resumes Independent Operations After Meta Deal Collapses
Zhipu Revenue Rises Nearly 400% as Cloud Business Gains Ground
Cover Story: How U.S. Tech Blockade Sparked China’s AI Chip Boom
Tencent Unveils Larger AI Model in Bid to Close Gap With Rivals
AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan

By Ke Dawei / Nov 21, 2018 03:39 PM / World

Photo: VCG

Photo: VCG

China signed 29 memoranda of understanding (MOU) with the Philippines during President Xi Jinping’s first state visit to the country Tuesday – but one is more controversial than the others.

The deal, an agreement to jointly explore oil and gas, is sparking fears that it will involve exploration within disputed areas of the South China Sea (SCS).

Tensions over ownership of large swaths of the SCS mounted during the 2010-2016 presidency of Benigno Aquino III, which culminated in an UNCLOS ruling fully backing the Philippines’ claims. But rather than press the point, the then-incoming new president Rodrigo Duterte said he would instead work with China to jointly develop some 4 trillion cubic feet of untapped gas reserves believed to lie within Philippine territory.

The MOU signed on Tuesday lacks detail and only mentions joint gas and oil development, not the territories in question. However, Philippine Energy Secretary Alfonso Cusi later said that the deal would cover SCS development.

The move is likely to spark strong opposition among Philippine lawmakers, who fear that Duterte is surrendering the country’s claims over the territories to China. It follows a turbulent APEC summit in Papua New Guinea that saw China and the U.S. exchange barbs on trade and market policy and several Asian-Pacific nations seemingly take sides.


Share this article
Open WeChat and scan the QR code