China plans Maritime Silk Road with ASEAN nations: Report

China is the 10-member ASEAN group’s largest trading partner, with the two-way trade exceeding $400 billion last year

China proposes to build a Maritime Silk Road with Southeast Asia countries where it is locked in a vexed dispute over the South China Sea to boost its foreign trade, state media here reported today.

The Maritime Silk Road (MSR) formed the basis the plans to enhance trade between China and ASEAN countries during the current visit of Chinese President Xi Jinping to Indonesia and Malaysia where he stated the MSR would help turn the “Golden Decade” between China and the region into “Diamond Decade”. Continue reading