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Addressing an Asia-Pacific Economic Cooperation (APEC) CEO summit in Manila, Xi put forward a four-point proposal for the region to "steer this giant ship of the Asia-Pacific economy in the right direction."

Joining China-proposed initiatives like the Belt and Road would help South Korea regain its advantages in infrastructure and machinery, expand its overseas projects and exports of machinery, and stimulate its economic growth, experts said.

Zhang said emphasis should be placed on issues concerning people's livelihood, such as poverty, health and education, when carrying out the agenda.

Gao's pledge that China will continue to aid underdeveloped countries in the region seems to have echoed the concern of analysts, who said the AEC and RCEP also offer a testing ground for economic cooperation among ASEAN countries -- particularly the underdeveloped members.

He suggested that China be ambitious but realistic, and focus on a few specific and pragmatic goals.