China Supports Malaysia's Proposal To Share Economic Activities
In South China Sea
China has expressed support for a Malaysian proposal to set up a special purpose vehicle (SPV) as the platform to share economic activities in the South China Sea.
China's National Defence Minister Gen Liang Guanglie said "all the relevant parties must be prudent of the South Sea and should work together on that".
"We do not hope to have a negative impact on stability and peace in the area," he told Bernama on the sidelines of the 10th IISS Asia Security Summit - The Shangri-La Dialogue, here.
Liang was asked to comment on Malaysia's proposal to set up the SPV to share economic activities among the claimant countries in the South China Sea, as suggested by Malaysian Defence Minister Datuk Dr Ahmad Zahid Hamidi during the question-and-answer session at the annual dialogue.
Dr Ahmad Zahid had said the countries could share not only in terms of equity participation but also in terms of exploration of the natural resources in the disputed areas.
Liang pointed that when Chinese Premier Wen Jiabao visited Malaysia in April, both Jiabao and Malaysian Prime Minister Datuk Seri Najib Tun Razak had discussed the issue of overlapping claims in the South China Sea.
"They had a good talk," he said.
Liang said: "I talked about the Chinese stand towards the South Sea and (I guess) you are aware of it," he said referring to his speech earlier.
He said China was committed to maintaining peace and stability in the South China Sea.
In 2002, China and the Asean countries signed a declaration on the Code of Conduct on the South China Sea, which acknowledged the settlement of the territorial and jurisdictional disputes by peaceful means through friendly consultation and negotiations by the sovereign states directly involved.
Also in the declaration, Liang said, it was reaffirmed that the freedom of navigation and overflight in the South China Sea should be respected according to universally recognised principles of international law.
At present, the general situation in the South China Sea remains stable.
The minister said China had been actively holding dialogues and consultations with the Asean countries in implementing the declaration.
BERNAMA - China Supports Malaysia's Proposal To Share Economic Activities In South China Sea