The South China Sea is the world's busiest, most prosperous, and most open sea, with freedom of navigation and overflight for ships and aircraft fully guaranteed, according to a report released on Friday.

The report was released by the Beijing-based think tank South China Sea Strategic Situation Probing Initiative and focused on the navigation and overflight in the South China Sea.

According to the report citing public statistics, nearly 500,000 commercial vessels pass through the South China Sea annually, with about 40 percent of global trade passing through the region and its adjacent straits.

In addition, over one million civilian aircraft flights operate in the skies above the South China Sea each year, it said.

The report notes that in recent years, the United States has been advancing a strategy to contain China through the South China Sea issue, intensifying some disputes in the region.

However, the current disputes have not affected the freedom of navigation and overflight enjoyed by other countries in the South China Sea, the report stressed.

Overall, the interactions and encounters between the Chinese and US militaries in the South China Sea have been professional and safe, it said, adding that the impact of geopolitical tensions on the freedom of navigation and overflight in the region remains within a "manageable range".