The measures from the world’s third-largest economy, and one of the few forecast to maintain growth this year, may help speed recovery from the global financial crisis. Premier Wen Jiabao was to announce the proposals at the ASEAN summit that was canceled in Thailand this weekend.

“ASEAN leaders hope China could play an important role in pushing forward cooperation in East Asia, and with other countries overcome the difficult times,” Yang said, according to the statement. Wen’s proposals reflect a resolve to “realize the Chinese government’s sincerity, responsibility and confidence in pushing forward ASEAN cooperation,” he said.

Other planned measures include 270 million yuan ($39.5 million) in aid to Cambodia, Laos and Myanmar, and donation of 300,000 tons of rice to an emergency East Asia rice reserve to boost cooking security, the statement said.

Macquarie Securities Ltd. and China International Capital Corp. estimate that China’s economy will expand as much as 8 percent this year. The World Bank expects 6.5 percent growth.

ASEAN consists of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Source: Bloomberg