China said it is prepared to revive stalled negotiations on joint oil exploration and development with the Philippines under the incoming administration of President-elect Ferdinand Marcos Jr. “China stands ready to work in concert with the new Philippine government to advance negotiations on joint development and strive to take early substantive steps so as to deliver tangible benefits to both countries and peoples,” Chinese Foreign Ministry Spokesperson Wang Wenbin said.

China ready to talk with Marcos on oil, gas exploration in WPS. (2022, June 26). Manila Standards, pp. 1, 3A.