In Proclamation No. 295 issued in November 2011, Aquino said the declaration of the Chinese New Year as a special non-working holiday would allow Filipinos and Filipino-Chinese to celebrate the holiday.
It is said that Aquino’s declaration is a nod to his ancestry as the Cojuangcos – his matriarch’s clan – are themselves Filipino-Chinese.
In his declaration, Aquino said the celebration of Chinese New Year “is a manifestation of our solidarity with our Chinese-Filipino brethren who have been part of our lives in many respects as a country and as a people.”
At present, the Philippines and China are embroiled in a territorial row over the West Philippine Sea or the South China Sea. Yet, a look at the latest economic data would reveal the close ties between Manila and Beijing.
China’s contribution to the economy does not end in trade. Chinese tourists are also among the country’s top visitors. The Department of Tourism said Chinese tourists were the fourth largest group of visitors in the Philippines from January to September in 2013. A total of 327,054 tourists from China came to the country, increasing by 66.08 percent and the fastest growth among the country’s top markets for tourists.
According to the National Statistics Office, China was the country’s third largest export market behind Japan and the US, accounting for 12 per cent of the total $4.3 billion export revenues in November .
More significantly China’s share represents a 38.2-per cent growth over the previous month, the fastest among all trading partners of the Philippines.
Through such cooperation, both countries will be able to maximize the benefit from China’s further liberalization minimizing the negative effects. Some broad areas of possible cooperation are: merchandise and service trade, tourism, and investment and development cooperation,
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