China and Vietnam have signed an agreement aimed at resolving bitter maritime disputes that drove relations between the communist neighbors to their lowest level in years, state media reported Wednesday.

The two nations - along with Taiwan, Brunei, Philippines and Malaysia - have competing claims on parts of the South China Sea and potentially rich oil and gas finds. Always fraught relations between the countries worsened this summer, with almost weekly anti-China protests in Hanoi over the South China Sea disputes.

The official Xinhua News Agency said a six-point agreement was signed Tuesday by China's Vice Foreign Minister Zhang Zhijun and his Vietnamese counterpart Ho Xuan Son. It took place during a visit by Vietnam's Communist Party chief Nguyen Phu Trong, who held talks with China's Communist Party boss, President Hu Jintao.

The agreement calls for twice yearly meetings, and for a hotline to be set up to deal with emergencies.

"The two countries should remain committed to friendly consultations in order to properly handle maritime issues and make the South China Sea a sea of peace, friendship and cooperation,'' Xinhua quoted the agreement as saying.

It said both sides "should explore interim and temporary solutions'' while seeking a long-term resolution.