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Cambodia & Laos China Vietnam

China Plans ASEAN Investment

China’s Foreign Minister Yang Jiechi recently discussed his country’s plans regarding Southeast Asia after the ASEAN summit in Pattaya, Thailand was cancelled due to anti-government protests.

Following the failed summit, Yang unveiled Chinese Premier Wen Jiabao’s plan for a US$ 10 billion investment in infrastructure as well as a US$15 billion line of credit to ASEAN members.

“China plans to establish a US$10 billion China-ASEAN investment cooperation fund to promote infrastructure that connects it to ASEAN nations,” said Yang on the flight back to China, according to state media. “It will also offer a credit of US$15 billion to ASEAN countries, including preferential loans of US$ 1.7 billion for cooperation projects.”

While China is not a member of the ASEAN, it recently appointed its first ambassador to the association and remains a very influential player in the region.

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