CHINA's initiative to develop a US$40 billion Silk Road Economic Belt in Asia has attracted interest from 60 countries and international organisations, and its other regional initiative to establish the Asian Infrastructure Investment Bank (AIIB) is proceeding smoothly.

In an effort to gain support for the two initiatives from China's neighbours, President Xi Jinping said at the Boao Forum for Asia on Hainan Island that his nation will offer other Asian nations trade and investment opportunities.

The initiatives proposed by China in recent months comes as the economic powerhouse is seeking new ways to sustain growth and expand its economic influence globally.

President Xi pledged to boost coordination in Asia and said bigger countries must take on more responsibility in world affairs, reported Bloomberg.

"China's economy shouldn't be viewed only by its growth rate," Mr Xi said. "China's economy entering the new normal will continue to provide countries including Asian nations more markets, growth, investment and cooperation opportunities."

The "new normal" phrase adopted by China's leaders refers to their push for growth driven by domestic consumption rather than exports and infrastructure. The government targets growth of about seven per cent this year, down from last year's 7.4 per cent.