China and the Association of Southeast Asian Nations (ASEAN) are looking forward to completing the consultation on a Code of Conduct in the South China Sea this year, Foreign Minister Wang Yi said during a news conference on Sunday.

The consultation "has reached crunch time", Wang said, adding that China is confident in working with other parties to reach a consensus as soon as possible to form "golden rules" that will help manage differences, improve mutual trust, and conduct cooperation.

Noting that the Philippines has assumed this year's ASEAN chair, Wang said he hopes the Southeast Asian country will "refrain from making troubles" and play a positive role in promoting regional peace and stability.

Over the past year, cooperation in the South China Sea has taken positive strides, Wang said.

Noting China's discussion and cooperation with Indonesia, Malaysia, and Vietnam, as well as China Coast Guard's rescue of Philippine sailors in January, he said these examples have shown that peace, cooperation, and friendliness is "the new narrative in the South China Sea".

"Trouble making has failed to win support," Wang said.