China to pump 25 billion dollars in south-eastern Asia cooperation

China to pump 25 billion dollars in south-eastern Asia cooperation Beijing - China has unveiled plans for upwards of 25 billion dollars' worth of aid and credits in boosting its trade and commercial ties with the South-East Asian region, the Chinese agency Xinhua reported Monday. Foreign Minister Yang Jiechi outlined the plans at a meeting on Sunday with envoys of 10 members of the Association of Southeast Asian Nations (ASEAN) members, the agency said.

In detail, China would set up a China-ASEAN investment cooperation fund totaling 10 billion dollars, designed for cooperation on infrastructure construction, energy and resources, information and communications, Yang said.

Beyond that, Beijing also was planning to offer credits of 15 billion dollars to ASEAN countries, including loans with preferential terms of 1.7 billion dollars in aid for cooperation projects.

"As always, China firmly backs ASEAN integration and community building, and firmly supports ASEAN playing a leading role in regional cooperation," said Yang.

He said China's policy toward cooperation with the ASEAN was unchanged despite the postponement of the meetings in Bangkok over the weekend due to the domestic political turbulence there. (dpa)

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