BEIJING (Jan 23): China has agreed to cooperate with the Philippines on 30 projects worth US$3.7 billion ($5.2 billion) focusing on poverty reduction, the two countries said after a meeting in Beijing on Monday.

Chinese Commerce Minister Gao Hucheng announced the deals without giving details, saying it was an "initial batch" of projects that still needed to be finalised and paperwork still needed to be processed by the banks involved.

Philippine Finance Secretary Carlos Dominguez said he had a "very productive" meeting with Mr Gao and they had discussed large projects in rural areas, as well as some smaller projects.

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