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Marcos snags $22.8bn in investment pledges on China trip

South China Sea dispute takes center stage in state visit to Beijing

Philippine President Ferdinand Marcos Jr., right, walks with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing, on Jan. 4.   © Xinhua/AP

MANILA -- Philippine President Ferdinand Marcos Jr.'s state visit to China generated $22.8 billion worth of investment pledges, his office said on Thursday.

Marcos met Chinese President Xi Jinping on Wednesday and was due to wrap up his three-day trip on Thursday. The state visit -- the first by Marcos outside Southeast Asia -- was touted as a tone-setter for relations between the two countries, which cooperate on economic matters but compete in the South China Sea.

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