Both sides agreed this time to shelve disputes and take the first step on joint development, an important measure in properly handling the dispute.

The principled consensus marks the beginning of carrying out the principle of "putting aside disputes and seeking joint exploration" on resolving the dispute, a principle that has been repeatedly put forward by the Chinese since late 1970s, said the commentary.

It said the consensus is also a win-win result, explaining in four aspects.

In political terms, the consensus has shown the sincerity of China and Japan, and their ability to resolve their differences through dialogue and consultation: In security terms, it is conducive to peace and stability in the East China Sea and the region; in diplomatic terms, it is beneficial to the healthy and stable development of China-Japan relations and to promoting the building of a harmonious neighborhood and harmonious Asia; in economic terms, it will enhance China-Japan cooperation on energy and bring about benefits for both sides.

The commentary said there is a basis in international law, and there are many international practices, justifying joint exploration that does not involve sovereignty.

According to the United Nations Convention on the Law of the Sea, signed in 1982, countries that have differences over sea borders can "enter into provisional arrangements of a practical nature" before the final delimitation. This is without prejudice to the stance of the countries or to the final delimitation.

Joint exploration is a political arrangement acceptable to all that aims at surpassing differences, stabilizing and developing bilateral relations, and realizing mutual benefits, in a bid to create conditions for the final settlement.

Encouraged by the prospect of Sino-Japan cooperation, Chinese enterprises have welcomed the participation of Japanese legal persons in the development of the existing gas and oil field in Chunxiao in accordance with the law.

The implementation of this cooperation project will open a broad prospect for the cooperation between Chinese and Japanese enterprises on exploiting offshore oil resources, said the commentary.

(Xinhua News Agency June 19, 2008)