A three-day meeting has just begun in Beijing between China and ASEAN. They're meeting to discuss a code of conduct to regulate activities in the South China Sea. There are a variety of conflicting claims to this area rich in natural resources, and these have led to serious maritime disputes. CCTV reporter Wu Haojun tells us how this meeting could help promote peace in the region.

Tension and disputes are giving way to dialogue and cooperation.

China and the 10 ASEAN member nations are meeting to promote peace and stability by addressing disputes in the South China Sea.

If this meeting is to succeed, one document signed ten years ago will be of utter importance.

Liu Zhenmin, Assistant Foreign Minister said "The success of this meeting should be attributed to the determination each party has shown to the further implementation of the Declaration of the Conduct in the South China Sea. Strengthening cooperation and avoiding conflicts. It's the common wish of China and all ASEAN nations."

Pham Quang Vinh, Vice Foreign Minister of Vietnam said "In the meeting, all parties exchanged views on the implementation of the Declaration of the Conduct in the South China Sea. Concrete suggestions were proposed. It's a positive move in the right direction."

Saturday's meeting laid out work to be done in the coming year. To promote cooperation in the South China Sea, China and ASEAN nations have pledged to establish joint committees on maritime environmental protection, disaster relief, and fight cross-border crime.

This year marks the 10th anniversary of the Declaration of Conduct, a document signed back in 2002 to set rules for all parties involved in diplomatic issues in the South China Sea.

The Chinese government believes it has shown sincerity in implementing the DOC and points to a 3-billion yuan China-ASEAN Maritime Cooperation Fund it set up in November.

As the world faces a myriad of economical and political challenges in 2012, in the South China Sea, countries now face a choice it seems: Tension?or Cooperation.