MANILA, Jan. 23 (Xinhua) -- The Philippines, with the help of Chinese firms, will set up an investment promotion center in Shanghai, China in a bid to lure more Chinese investors, the Philippine Department of Trade and Industry (DTI) said on Wednesday.

The DTI said in a statement that the collaboration will be in a form of a Philippine Investment and Tourism Center in Shanghai, China.

Philippine trade officials, led by Trade and Industry Secretary Ramon Lopez, discussed on Wednesday possible investment promotions collaboration with several Chinese firms involved in tourism, food processing, freight forwarding, aquaculture, and construction.

According to Lopez, the partnership "will aid DTI in its investment promotion programs and encourage more Chinese investors to visit the Philippines and look for investment opportunities in the areas of tourism, real estate, and food processing."