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"China's development will first benefit its neighbors, including Malaysia, and I expect that everyone can seize the opportunity to contribute to the friendship and common development between China and ASEAN nations," Li said.

Seven out of the 10 ASEAN members are continental or maritime neighbors of China. Trade and economic ties have grown closer between the two sides.

The programs, stressed the president, will focus on helping African countries break the three development bottlenecks of backward infrastructure, talent shortage and inadequate fund, accelerate industrialization and agricultural modernization, and realize independent and sustainable development.

When discussing the funding of these projects, they agreed it would be at the consultation of the governments concerned and the support from other financial mechanisms and international institutions will also be considered.

In an early step to put the initiative into action, the Malacca State established a friendly partnership with South China's Guangdong Province in September, and the industrial park is a major project currently under construction by companies from both sides.