China offers $10b in infrastructure loans for Southeast Asia

China is offering $10 billion in infrastructure loans to Southeast Asian countries, a senior foreign ministry official said on Sunday.

The world's second-largest economy will also provide aid worth 3.6 billion yuan (U.S. $560 million) to underdeveloped states within the Association of Southeast Asian Nations (ASEAN) in 2016, Vice Foreign Minister Liu Zhenmin told a news conference during the annual East Asia Summit, which this year was held in Kuala Lumpur.