On January 4, witnessed by President Xi Jinping and President Ferdinand Romualdez Marcos Jr. of the Philippines, Wang Wentao, Minister of Commerce, and Alfredo E. Pascual, Secretary of the Department of Trade and Industry of the Philippines signed the Memorandum of Understanding on E-commerce Cooperation between the Ministry of Commerce of People's Republic of China and the Ministry of Trade and Industry of the Republic of the Philippines. According to the MOU, the two sides will establish an e-commerce cooperation mechanism, conduct policy communication, share best practices and innovative experience, promote trade in quality products through e-commerce, strengthen cooperation among enterprises, localities and think tanks, and jointly inject new impetus into bilateral economic and trade relations.

Up to now, China has established bilateral mechanisms on e-commerce cooperation with 29 countries, including the Philippines.