Chinese Foreign Minister Yang Jiechi met in Hong Kong on Tuesday with Philippine President Gloria Macapagal- Arroyo to discuss Sino-Philippine bilateral relations on the sidelines of the Clinton Global Initiative (CGI) Asia Meeting.

Chinese Foreign Minister Yang Jiechi(L) meets with Philippine President Gloria Macapagal- Arroyo in Hong Kong, China, on December 2, 2008. The two sides discussed Sino-Philippine bilateral relations on the sidelines of the Clinton Global Initiative (CGI) Asia Meeting. [Wong Pun Keung/Xinhua]

Yang hailed the smooth proceeding of the Sino-Philippine relations, noting that the Chinese government attaches great importance to the development of relations between the two countries.

Yang said China is willing to make concerted efforts with the Philippines to promote high-level exchanges, deepen mutual cooperation, withstand the international financial risks and maintain the regional prosperity and stability by pushing forward the regional financial cooperation under the current situation.

Yang thanked President Arroyo for her invitation to 100 children from earthquake-devastated Sichuan Province in southwest China to visit the Philippines next year, saying such a move by the Philippines will be beneficial to building up the friendship between the Chinese and Philippine people.

On her part, President Arroyo spoke highly of the Philippine-Chinese relations, saying the cooperation between the two countries were mutually beneficial and the Philippine people are benefiting from such cooperation.

Arroyo said that she hoped to promote exchanges and cooperation with China in all fields.

Before the bilateral meeting, the Chinese foreign minister and the Philippine president also shared their views on climate change, energy efficiency, environmental protection, hiking fuel and food prices with US former President Bill Clinton, Japan's former Foreign Minister Yoriko Kawaguchi, Hong Kong-based leading exporter Li&Fung Group Chairman Victor Fung, and Vice Chairman of India-headquartered investor and private equity fund manager SUN Group.

(Xinhua News Agency December 3, 2008)