简介：JointdevelopmentisanimportantpartofChina’sSouthChinaSeapolicy.BenefitingfromthesteadydevelopmentoftheSouthChinaSeasituationandespeciallyfromtherecentagreementbetweenChinaandASEANcountriesonasingledraftnegotiatingtextoftheCodeofConduct(COC)intheSouthChinaSea,togetherwiththeimprovementofChina-PhilippinesrelationsandtheestablishmentofthebilateralconsultationmechanismontheSouthChinaSeaissuesincelate2016,itiscurrentlyafavorableopportunitytopromotecooperationonoilandgasresourcesintheSouthChinaSea.Asubstantialbreakthrough,ifachieved,willnotonlyhelpfurtherconsolidatetheChina-PhilippinesrelationsandreducetheadverseimpactoftheSouthChinaSeaarbitrationcase,butalsoprobablypromptotherSouthChinaSeacountriestofollowsuit.Therefore,itisofpracticalsignificancetostudythefeasibilityandchallengesofbilateraljointexploitationofhydrocarbonresourcesintheSouthChinaSea.