China-ASEAN ties

Added On November 22, 2015

Chinese Premier Li Keqiang has made a six-pronged proposal on cooperation among ASEAN-China, Japan and South Korea within the 10+3 mechanism.
The proposal was made as China pledged 10 billion U.S. dollars of loans to Southeast Asian countries.
During the 18th ASEAN-China, Japan and South Korea leaders' meeting in Kuala Lumpur, Chinese Premier Li Keqiang on Saturday called on East Asian nations to accelerate their economic integration and safeguard regional stability as the region seeks closer ties.
Putting forward a six-point proposal, Li said China stands ready to work with other parties to conclude the negotiation of the Regional Comprehensive Economic Partnership by 2016 to promote trade and regional integration.
He also said China's talks with ASEAN on the upgrading of their free trade area will end soon.
Other proposals include macro-economic policy coordination, enhancing regional inter-connectivity, cooperation on infrastructure construction projects and poverty reduction. 
The 10+3 leaders' meeting came as the ASEAN community, the first sub-regional community in Asia, is expected to take shape by the end of this year, which Li hailed as "a milestone in regional integration."
Li told the meeting that his country looks forward to building synergy between China's Belt and Road Initiative and ASEAN members' respective development strategies to promote regional integration.
Li pledged infrastructure loans totaling 10 billion U.S. dollars to Southeast Asian countries, and proposed railway and production capacity cooperation amid closer partnership with the economically converging region.
"That is in nobody's interest," said the Chinese Premier.
Premier Li Keqiang on Saturday called on ASEAN nations to seek common ground with China and set aside differences amid territory disputes in the South China Sea.
Li said freedom of navigation in the South China Sea in line with international laws had never been hindered, while his country was willing to quickly conclude with ASEAN countries the Code of Conduct (COC) in the water on the basis of consensus. 
He added that some countries outside the region are conducting high-profile intervention. 
ASEAN, founded in 1967, consists of Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam.