China offers US$1.5 billion to Asean in development aid

In this photo released by Xinhua News Agency, Chinese President Xi Jinping waves as he chairs the Asean-China Special Summit to commemorate the 30th Anniversary of Asean-China Dialogue Relations via video link from Beijing, China on Monday, Nov. 22, 2021. Xi on Monday said his country will not seek dominance over Southeast Asia or bully its smaller neighbors, amid ongoing friction over the South China Sea. - AP

ASEAN-CHINA SUMMIT, Nov 22 (dpa): Chinese President Xi Jinping said that his country will offer 1.5 billion dollars in development aid to the Association of South-East Asian Nations (Asean) in the next three years.

The financial assistance is to help Asean countries to fight epidemics and recover their economies, Xi said during a virtual meeting with ASEAN heads of state and government on Monday.