China, Philippines agree to cooperate on 30 projects worth US$3.7b

Beijing

CHINA has agreed to cooperate with the Philippines on 30 projects worth US$3.7 billion focusing on poverty reduction, the two countries said after a meeting in Beijing on Monday.

Chinese Commerce Minister Gao Hucheng announced the deals without giving details, saying it was an "initial batch" of projects that still needed to be finalised and paperwork still needed to be processed by the banks involved.