"China and the Philippines share many things in common including being subjugated by colonizers and having their natural resources plundered. Now that China is strong economically and militarily, we call on China to refrain from becoming an imperial power,” eight business groups said in a statement as quoted by Bloomberg.

Julian Felipe Reef is historically and by law an “undisputed” Philippine territory, the business groups which include the Philippine Chamber of Commerce and Industry, Makati Business Club and the Management Association of the Philippines were quoted as saying by Bloomberg.

“We call on Chinese authorities to respect the sovereignty of the Philippines and other neighboring countries for it is only through peaceful co-existence that we can achieve prosperity for all,” they said.

US Secretary of State Antony Blinken and his Philippine counterpart, Teodoro Locsin Jr. had earlier expressed concerns over the activities of Chinese military vessels in the South China Sea.

Over the past several years, China has increased its territorial and maritime claims in the South China Sea region, overlapping with the interests of several nations.

The United States has repeatedly voiced concern over the Chinese activities in the region and regularly sends its military vessels there.