The new leadership of China attaches great importance to developing good neighbourly relations with the Philippines and would like to push forward bilateral co-operation to a new high in all fields.

Wu Bangguo, chairman of the Standing Committee of the National People's Congress, made the remarks when meeting Philippine President Gloria Macapagal Arroyo on Saturday.

Wu praised Arroyo's efforts in promoting Sino-Philippine relations and expressed his wish to enhance mutual understanding, friendship and trust through his visit.

The economic and trade co-operation between the two nations has maintained strong momentum, Wu said.

Statistics indicated that the trade volume reached US$5.2 billion between China and the Philippines last year.

China appreciates the Philippine Government's understanding and support for China on the Taiwan question, Wu said.

Arroyo spoke highly of the remarkable achievements that China has made both in internal and foreign affairs under the new leadership.

She asked Wu to convey an invitation to Chinese President Hu Jintao to visit her nationin in the future.

She said Wu's visit would definitely push forward bilateral ties in all fields. Besides exchanges among high level leadership,people-to-people co-operation should be strengthened at the same time, she said.

Arroyo said China is not only a fast developing economy but also a country that takes responsibility in the international arena.

After their meeting, the two leaders attended a signing ceremony for a currency swap agreement between the two countries as well a memorandum of understanding on China's credit to the Philippines for the construction of a railway project.

Invited by Philippines' House of Representatives Speaker Jose de Venecia and Senate President Franklin Drilon, this is Wu's first visit after being elected as the NPC Standing Committee chairman in March.

Wu also highly praised the relationship between NPC and Philippine parliament when meeting with de Venecia yesterday.

The two sides have conducted multi-level exchanges in a variety of fields, such as at the legislative and legal levels.At the same time, liaison mechanisms were established between special committees of the two parliaments.

The NPC and the Philippine parliament have co-operated closely under the frame of AAPP (the Association of Asian Parliaments for Peace) to accelerate trade co-operation and exchanges, Wu said.

Parliaments to co-operate

All this has proved that the relationship between NPC and Philippine parliament has become an important part of bilateral ties.

Echoing Wu's opinion, de Venecia said the Philppine parliament would strengthen co-operation with NPC to devote to the bilateral relationship.

He expressed gratitude towards China's support and aid in many fields, which symbolize the deepening of bilateral friendship.

He said the meeting with Wu "signals the determined efforts of China and the Philippines to strengthen respective roles in the regional and global efforts to achieve peace, security, stability and economic development for all nations, particularly in Asia.''

Like the Philippine Government, the Philippine parliament insist on one-China principle, regarding Taiwan is an integral part of China, said the speaker.

On the issue of South China Sea, he said the Philippines will strictly abide by the related announcement reached by all sides to jointly explore the region.

Wu said China would like to co-operate with all the ASEAN (the Association of Southeast Asian Nations) nations, including the Philippines, to carry out the follow-up work of the announcement as well to promote pragmatic co-operation on the region of South China Sea.

Having arrived in Manila on Saturday, Wu will attend the fourth General Assembly of the AAPP today and pay a State visit to the Philippines from August 30 to September 2.

This is also the first leg of Wu's three-State official visit in Asia. He will also visit South Korea and Japan in the following two weeks.

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