China and the Philippines have maintained regional peace and stability by their handling of the South China Sea issue, Chinese President Xi Jinping said on Friday during a phone call with Philippine President Rodrigo Duterte.

Xi said the approach to the issue by both sides has laid an "important foundation" for friendship and cooperation between China and the Philippines, benefiting the two peoples and maintaining regional peace and stability.

He added that the current international situation has once again proved that regional security cannot be achieved by strengthening military alliances.

China stands ready to work with the Philippines and other regional countries to adhere to a vision of common, comprehensive, cooperative and sustainable security and take the region's security into their own hands so as to jointly maintain the hard-won peace and security, and promote the building of a community with a shared future for mankind, Xi said.

Duterte said the Philippines is willing to work with China to properly address the South China Sea issue to set an example for the peaceful resolution of disputes and maintain regional peace and stability.

The Philippines, a member of the Association of Southeast Asian Nations (ASEAN), is also ready to play an active role in developing ASEAN-China relations, he added.

Xi said Duterte's first visit to China in October 2016 as president of the Philippines was an "ice-breaking" trip that was a milestone in the history of bilateral relations.

The Chinese president also said China pursues a continuous and stable policy towards the Philippines, and is ready to work with it to take bilateral ties to a new level.

China will continue to cooperate with the Philippines on vaccines and public health, trade and investment, and education and humanities, among others, he pledged.

Duterte hailed China as "a true and reliable friend of the Philippine people," and vowed to boost cooperation with China on the pandemic, trade, infrastructure, tourism, education and others.