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Yang recalled that some sixty years ago, China, India and Myanmar, observing the trend of the times, jointly put forward the Five Principles of Peaceful Coexistence which he said remains the basic norms governing international relations to this day.

"It was agreed that the economic corridor, by combining China and Pakistan's respective development strategy, would be conducive to their goals of developing the economy and improving people's livelihood, as well as bring benefits to development and prosperity in the region," said Wednesday's joint statement.

Wang made the remarks when meeting with a U.S. delegation headed by Paul Gewirtz, the director of Yale Law School's China Center.

"China's aid is limited but very sincere and will be provided without any political condition," Wang said.

Ban said the development of the CICA will be pushed forward as China hosts the summit and the UN wishes the summit a success.