Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Former China Unicom Executive Gets 12 Years for Taking $3.8 Million in Bribes
Tech Brief (Oct. 29): China Unveils Five-Year Plan to Foster Emerging, Future Industries
Tech Brief (Oct. 30): Nvidia Becomes First Tech Firm to Top $5 Trillion Market Cap
LATEST
Tech Brief (Oct. 30): Nvidia Becomes First Tech Firm to Top $5 Trillion Market Cap
Former China Unicom Executive Gets 12 Years for Taking $3.8 Million in Bribes
Tech Brief (Oct. 29): China Unveils Five-Year Plan to Foster Emerging, Future Industries
Huawei’s Bold AI Bet Aims to Fill Nvidia’s Void in China
China’s STAR Market Embraces Unprofitable Tech With $14.6 Billion ESWIN Debut
China Mobile Names China Unicom Chief as New Chairman
MiniMax Unveils M2 Model to Compete on Speed and Cost
Pony AI, WeRide Seek to Raise Combined $1.3 Billion in Hong Kong
Tech Brief (Oct. 28): Meituan Releases Open-Source Video Generation Model
Tech Brief (Oct. 27): Huawei EV Partner Seres Unveils Hong Kong IPO Plan
Tech Brief (Oct. 24): China Vows to Accelerate Tech Self-Reliance
Tech Brief (Oct. 23): China Cracks Down on Smart Devices Over Data Violations
Chinese Firms Urged to Fortify Online Brands as Cybersquatting Costs Mount
Tech Brief (Oct. 16): China’s Tech Minister Meets With Apple CEO
China Debuts Ultrafast Oscilloscope in Drive to Break Tech Barriers
Tech Brief (Oct. 15): Google to Invest $15 Billion in India for AI Hub
Tech Brief (Oct. 13): Wingtech Temporarily Loses Control of Dutch Chipmaker Nexperia
Tech Brief (Oct. 10): China’s AI Server Market Doubles
Tech Brief (Oct. 9): SoftBank to Acquire ABB’s Robotics Business
Tech Brief (Sept. 30): U.S. Widens Export Blacklist

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