Duterte, who took office last June, has worked to fix relations with China that have been strained by territorial conflicts in the South China Sea and an global arbitration ruling on a case filed by his predecessor that invalidated Beijing's claims to the disputed territory. "It has to be fair and it has to be balanced", Mr. Duterte told reporters in an interview in Davao City.
Last year, tension between Beijing and Hanoi rose after Taiwan and US officials said China had placed surface-to-air missiles on Woody Island, part of the Paracels archipelago it controls.
Duterte, who took office past year, abandoned the policy of his predecessor, Benigno Aquino 3rd, to forcefully challenge Beijing in diplomatic circles and instead sought to fix bilateral relations.
The Chinese government has offered a $500 million loan to the Philippines, which can be used to procure defense equipment, Defense Secretary Delfin Lorenzana said Sunday.
The announcement was made by Philippine special envoy to China Jose De Venecia who spoke at the Belt and Road Forum hosted by China that was participated in by heads and representatives of at least 30 countries.
"Without much-needed transparency from the Duterte [administration] and China on the rate, conditionality, and repayment terms of $167 billion of new debt for the Philippines, the public should assume, to forestall a worst-case scenario, that the rate would be somewhere between 10 percent and 15 percent", Corr said.
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This isn't the first time the Philippines has tried to join forces with China and Vietnam in the South China Sea.
He praised China's leaders as "generous", "very liberal" and "sincere", and described his trip to Beijing as a "windfall" for the Philippines.
They alleged it infringed on Philippine sovereignty and accused Arroyo of treason. US President Donald Trump's recent promises to continue with its commitments to its Asia-Pacific partners, such as South Korea and Japan, proves its determination to do so.
Also signed were memorandums of understanding on cooperation in human resources development and personnel exchanges, energy cooperation, and enhancing government capabilities in communication and publishing.
But the deal was terminated after its legality was questioned, while some officials claimed the Philippines was put at a disadvantage since most of the research site was within the country's exclusive economic zone.
As part of its renewed friendship and deeper bilateral ties, President Rodrigo Duterte and Chinese President Xi Jin Ping witnessed the signing of three agreements following an expanded bilateral meeting between the two leaders.