Southeast Asian countries hope to achieve the two-way trade goal with China of $500 billion by 2015 and $1 trillion by 2020, as well as two-way investment of $150 billion by 2020.
It's been dubbed the "ASEAN car" -- the idea that the Southeast Asian countries could collaborate on the production of a vehicle for their region, and for wider export.
China and the Association of Southeast Asian Nations members have set a goal to conclude the negotiations on upgrading the China-ASEAN Free Trade Area by the end of 2015.
China will push for the implementation of a code of conduct for the South China Sea - a document that will lessen the risk of escalating tensions in the area-but experts said such an agreement faces obstacles.
China on Thursday pledged to offer assistance worth 3 billion yuan to less developed members of ASEAN next year to help the regional bloc reduce poverty.
At the 9th East Asia Summit held in Myanmar, China announced to offer loans worth over $20 billion to support Southeast Asia's connectivity construction.
The ASEAN-China Free Trade Area (ACFTA) is a free trade area between the 10 Association of Southeast Asian Nations member states and China.
Chinese Premier Li Keqiang on Thursday called for maintaining peace and stability in East Asia and pushing forward regional economic integration and common development.
Chinese Premier Li Keqiang on Thursday urged all sides at the 9th East Asia Summit to push forward regional economic integration, so as to achieve integrated development and common prosperity.
Chinese Premier Li Keqiang said here Thursday that the situation in the South China Sea is on the whole stable and the freedom and safety of navigation in the region is ensured.
Chinese Premier Li Keqiang said here Thursday that China and the Association of Southeast Asian Nations (ASEAN) members are discussing the possibility of concluding a treaty on good-neighborliness, friendship and cooperation.
China is forging closer ties with ASEAN, which is seen as easing tensions over South China Sea.