A group of high-level Philippine officials are set to meet high-ranking Chinese authorities this week in Beijing to iron out the final details of $15 billion worth of investment and economic deals that President Rodrigo Duterte inked with the Asian giant during his first official state visit to China last year.

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A statement released by the Philippine finance department on Sunday said that the trip by the Philippine delegation, scheduled for between January 23-25, will include Duterte's secretaries for finance, transport, public works, budget, and economic trade.

At this week's meeting, Chinese and Philippine officials will hammer out the $15 billion worth of investment pledges Duterte took home from his visit to China last month.

Economic Package

The $15 billion economic package that China pledged to the Philippines was part of $24 billion worth of investment that Beijing committed to Manila during Duterte's visit in October last year.

According to the Philippine finance ministry, the deals which were signed by the two nations include an agreement for Beijing to provide Manila with a 100 million yuan ($14.5 million) grant to help Duterte's ongoing war on drugs and to improve law enforcement.

Philippine Finance Secretary Carlos Dominguez said a Memorandum of Agreement was also signed between the two sides in which China will provide financial support to the Philippines' major projects in the infrastructure and agricultural sectors.

Soft Loans

Officials from the Philippine delegation will meet with Chinese Vice Premier Wang Yang, National Development and Reform Commission head Xu Shaoshi, and other finance executives to discuss the investment deals and economic cooperation.

Apart from the $15 billion investment and economic package President Xi Jinping committed to Manila, China also pledged $9 billion worth of soft loans.

Duterte has made a pivot to China after assuming the presidency in June and has declared his disdain for the US, threatening Washington that he would be taking the country's businesses somewhere else, possibly China.

Meanwhile, Philippine authorities said Duterte is set to visit Beijing again in May to attend a multilateral summit. 

Tagseconomic package, soft loans, Philippines, Philippine President Rodrigo Duterte, Chinese President Xi jinping, chinese investment, 100 million yuan, $15 billion investment, $9 billion soft loans, $24 billion investment