Funding to support South China Sea ties

China's ocean watchdog said on Thursday it would allocate 30 million yuan ($4.8 million) in 2013 to enhance international cooperation with developing economies in the South China Sea.

Experts believe strengthening cooperation with South China Sea countries will help ease tensions over complicated territorial disputes.

"Through cooperation with South China Sea countries we can deepen understanding and acknowledgement with each other and eliminate doubts and worries," Ma Deyi, director of the First Institute of Oceanography under the State Oceanic Administration, said on Thursday.