Attending the East Asia Summit in Myanmar, Chinese Premier Li Keqiang said US$10 billion would be made available to the 10-member Association of Southeast Asian Nations (ASEAN) in cheap loans and a further US$10 billion for infrastructure projects.
"These measures will help speed up the building of regional connectivity," Li added, in the official translation of his speech. Beijing also agreed to set up a hotline to help avert flashpoints in the bitterly disputed South China Sea, and stood ready to sign a "treaty of friendship and cooperation" with the bloc, according to Li.
In a sign of the lingering challenges ahead, Li warned "China's resolve to safeguard territorial sovereignty is clear", although he did not specifically mention the contested seas.
In a statement Myanmar, the chair of ASEAN, said the bloc remained "concerned over the situation in the South China Sea" but noted progress in relations with China.
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