The third reading of the draft text of the Code of Conduct in the South China Sea has completed, Foreign Minister Wang Yi said on Friday, adding that China hopes to work with ASEAN countries to strengthen dialogue and eliminate interference toward an early conclusion of the code.

The situation in the South China Sea has remained peaceful and stable under the joint efforts of China and ASEAN countries, and the region remains the busiest waters and the safest waters to navigate and fly over, Wang said.

China has established a mechanism to discuss maritime issues with all other parties to the South China Sea, he said.

Speaking of China's frictions with the Philippines in the South China Sea over the past year, Wang called them a "shadow play".

"The screenplay was written by forces outside the South China Sea, and the show was livestreamed by Western media to smear China," he said. "The people are getting tired of watching the farce over and over again."

China will continue to safeguard its territory, sovereignty and maritime interests, Wang said, warning that any provocation against the country will backfire, and "those acting as others' chess pieces are bound to be discarded".