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BEIJING - Chinese State Councilor and Foreign Minister Wang Yi met with Philippine Foreign Secretary Alan Peter Cayetano Wednesday in Beijing.

Under the correct and powerful guidance of both leaders, the China-Philippine tie has entered the best period in recent years, which is in line with the common interests of both countries and people, Wang said.

He said the high-level exchanges and the political mutual trust between the two countries have strengthened continually since 2016, adding that trade volumes between China and the Philippines exceeded $50 billion last year and China became the largest trading partner of the Philippines.

Both sides agreed to continue to uphold and maintain the most important experience of China-Philippine relations, which is to properly handle the South China Sea issue through consultation and negotiation, vigorously maintain the big picture of bilateral ties, and create a good atmosphere for expanding bilateral cooperation, according to Wang.

China is ready to advance cooperation with the Philippines under the Belt and Road Initiative, in people-to-people exchanges, maritime dialogue and cooperation, and regional integration, said Wang.

Cayetano delivered a congratulatory letter from Philippine President Rodrigo Duterte to Chinese President Xi Jinping, and said that the Philippines is willing to work with China to implement the consensus reached by the two leaders, deepen pragmatic cooperation in various fields, promote maritime cooperation and sustained, in-depth development of bilateral ties.