China and Vietnam should work together to maintain peace and stability in the South China Sea and manage and control disputes, Chinese Premier Li Keqiang told Vietnamese Prime Minister Nguyen Xuan Phuc.
China claims almost all of the South China Sea, where about $5 trillion worth of seagoing trade passes every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims in the sea, which is also believed to have rich deposits of oil and gas.
Vietnam is in the midst of a quiet military buildup analysts say is designed as a deterrent to secure its 200 nautical mile Exclusive Economic Zone as China grows more assertive in staking its claims in the South China Sea.