NAY PYI TAW -- China on Thursday pledged to offer assistance worth 3 billion yuan ($480 million) to less developed members of Association of Southeast Asian Nations (ASEAN) next year to help the regional bloc reduce poverty.

China will also offer 100 million yuan ($16 million) for rural poverty reduction project in East Asia, said Chinese Premier Li Keqiang while attending the 9th East Asia Summit here.

He said China will put forward the East Asia Cooperation Initiative on Poverty Reduction at this year's ASEAN Plus Three Summit, which is underway here later Thursday.