BEIJING, February 17. /TASS/. China and members of the Association of Southeast Asian Nations (ASEAN) are capable of pooling efforts to preserve peace and stability in the South China Sea, Chinese Foreign Minister Wang Yi has said.

"We believe that as long as we (China - TASS) and ASEAN interact in the spirit of solidarity and do not succumb to pressure, we will be able to conclude an agreement on a code of conduct in the South China Sea," Wang told the Munich Security Conference.

He stressed that Beijing and ASEAN "have the wisdom and ability to preserve peace and stability" in the South China Sea. He also expressed willingness to promote freedom of shipping and air flights in this area, pointing to the need for "protecting the legitimate rights of other countries in the region."

For several decades Beijing has been at odds with some countries over the territorial affiliation of certain islands in the South China Sea, where significant offshore hydrocarbon reserves have been discovered. First and foremost, this concerns the archipelagos of Xisha (Paracel Islands), Nansha (Spratlys) and Huangyan (Scarborough Reef). Brunei, Vietnam, Malaysia and the Philippines are involved in these disputes. In recent years, the rifts have been eased somewhat through multilateral efforts, including China-ASEAN engagement.