Addressing the Philippines Congress in Manila on Wednesday, Hu Jintao says coordination and cooperation has become the policy of most countries in the region.
 "The Asian countries have developed a broad consensus when it comes to maintaining regional peace and promoting common development. This determines that state-to-state relations in the region are, on the whole, stable and that coordination and cooperation have become the policy option of most countries in the region."
However, Hu Jintao also points out the severe challenges to Asian economic and social progress.
"We must not forget that threats of terrorism, separatism and religious extremism continue to render Asian peace and stability uncertain, and that uneven development, poverty, infectious diseases and other issues remain severe challenges to Asian economic and social progress."
On the second day of Hu's visit to Manila, the Philippines and China boosted economic cooperation with agreements worth more than 1.5 billion US dollars.
The deals, signed by Chinese and Philippine officials after a 45-minute meeting between Hu and Philippine President Gloria Macapagal Arroyo, opened the door to the two largest Chinese investments ever in the country.
A 500 million US dollar loan will go toward a railway linking Manila and northern provinces, and a 950 million US dollar investment will go into developing a nickel mining project in the southern Philippines.
A Philippines government document summarising the agreements said the country would also benefit from increasing tropical fruit exports to China and Beijing's investments in railways, electric power, energy and construction.
A Philippines presidential spokesman said the railway project was expected to create at least 17,000 jobs.
Chinese firms have been invited to invest in 23 Philippine mining projects, and Beijing has expressed interest in the country's copper, nickel and manganese mines.
China is the fastest growing market for Philippines exports and is the southeast Asian country's fifth biggest trading partner.
Bilateral trade has been growing by about 55 percent annually since 2002, and the two countries are aiming to have an annual 20 billion US dollars in trade by 2009.
Hu flew in to Manila on Tuesday from Indonesia where he attended last weekend's Asia-Africa summit.
Arroyo is to host a state banquet in his honour later on Wednesday.
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