A Joint Marine Seismic Undertaking Accord was signed in Manila on March 14 among China National Offshore Oil Company (CNOOC), the Vietnam Oil and Gas Corporation and the Philippine National Oil Company (PNOC). The joint marine seismic undertaking by the oil companies of China, Vietnam and the Philippines in a part of the South China Sea is an important measure to implement the Declaration on the Conduct of Parties in the South China Sea. It will make historic contribution to the peace, stability and development in the South China Sea. China has been actively discussing with relevant ASEAN countries on ways to conduct pragmatic cooperation in the South China Sea in a spirit of 'shelving differences and engaging in common development' in recent years, and devoted to making the South China Sea a sea of friendship and cooperation linking China and ASEAN.