The Philippine government is seeking Chinese investment to fund its infrastructure projects. Political analysts say this is a sign that Manila is determined to develop closer ties with Beijing after years of bitter conflict over territorial claims in the South China Sea.

Philippine Finance Secretary Carlos Dominguez, in an interview at the World Bank's office in Washington, said Manila is open to doing business with China again after more than three years of strained ties between the two countries under the reign of former Philippine President Benigno Aquino III.

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"The last administration hardly spoke to them," Dominguez said on Friday. "Now we are going to talk to them (Chinese officials)."

Infrastructure Projects

Dominguez said it is time to de-escalate tensions with Beijing and invite the Chinese government to invest in Manila's infrastructure projects in the coming months.

China has been expanding its regional presence by funding infrastructural projects and reviving the ancient Silk Road trading route known through the "One Belt, One Road" initiative.

"We would like to direct them towards the infrastructure programme that we are embarking upon, and you know we welcome them," said Dominguez.

Foreign policy

Since Philippine President Rodrigo Duterte assumed office three months ago, he has been voicing anti-US sentiments while gravitating towards China.

Dominguez said the Philippine is zeroing in on joining the China-backed Asian Infrastructure Investment Bank (AIIB) and that the finance department will soon submit its application to join the bank to the Philippine Senate soon.

"That's going to be a big source of funding for infrastructure spending," Dominguez said.

Trade alliances

Duterte has made it clear that he is seeking new alliances with China in trade and commerce. Part of the Philippine leader's agenda in visiting Beijing this month is to seek economic cooperation on mutual concerns and interests.

Recently, China lifted a ban on the importation of bananas and pineapples from the Philippines.

The move was seen as China's response to the Philippines' intention of enhancing trade ties with Beijing.

More than two dozen Philippine businessmen are expected to accompany Duterte during his first official state visit to China later this month.

TagsPhilippines, china