China and the Philippines are discussing the possibility of establishing an economic cooperation zone in the Philippines. That's according to China's Ministry of Commerce on Thursday.

Spokesman Sun Jiwen said China had started negotiations with the Philippines, and is willing to expand imports, especially agricultural products. China is also ready to push for Chinese firms to expand investment in the Philippines.

The news came after Chinese President Xi Jinping met Philippine President Rodrigo Duterte last month in Beijing, where he was visiting with at least 200 business people.