There is huge economic and trade potential between China and the Philippines, Vice-Premier Wang Yang told a visiting delegation led by Philippine Finance Secretary Carlos Dominguez on Monday.

In a three-day trip to China, Dominguez led a high-level delegation including ministerial officials responsible for economic planning, telecommunication, financing and public projects.

During talks with minister of commerce Gao Hucheng, the two sides agreed to resume the China-Philippines Joint Commission on Economic and Trade Cooperation, a major two-way consultation platform that came to a halt when ties became strained in 2012.

The Vice-Premier said the two countries should tap into the bilateral commission.

Wang said the neighboring countries should gear up efforts on bilateral economic and trade cooperation and press ahead with priority projects.

China is now the second largest trading partner of the Philippines.

Philippine President Rodrigo Duterte paid a state visit to China last October.

Wang said both sides should fully implement the consensus reached by the leaders.