What if I dont have a bank account of php 50k but I have account in our company's cooperative?

You can try to submit the account in your company's cooperative, the reason why the embassy ask Filipinos to provide the bank certificate is that they are afraid that Filipino can't burden the expense of travelling in China, they will overstay or do illegal work in China. Once you can prove that you have enough money to burden the expense in China, it will not be a problem.