What happened during the recent incident between China and the Philippines near Scarborough Shoal?

According to the Philippine Coast Guard, a Chinese Navy helicopter flew dangerously close (approximately 3 meters) to a Philippine government fisheries aircraft that was conducting a maritime domain awareness flight over Scarborough Shoal. The Philippines claims this was a clear violation of aviation regulations and occurred in waters within their exclusive economic zone. China's Southern Theater Command counters that the Philippine plane intruded into China's airspace over Scarborough Shoal, violating Chinese sovereignty. This incident is part of broader tensions in the South China Sea, a vital waterway through which more than $3 trillion in annual shipping commerce passes, where China claims sovereignty over almost the entire area.