A senior Philippine trade official said that Chinese investment is welcome, despite emerging bilateral tension over territorial disputes.

The Philippines hopes to attract investment from more Chinese companies, and it offers significant opportunities in infrastructure, agriculture, light industry and telecommunications, said Secretary of Trade and Industry Gregory L. Domingo, speaking on Tuesday on the sidelines of the 10th China-ASEAN Business and Investment Summit.

"The Philippines is becoming a bustling hub of trade and investment opportunities," he said.