In his speech, Xi proposed to establish an Asian infrastructure investment bank to promote connectivity and economic integration in the region so as to jointly build a closer China-ASEAN community of common destiny and build the new "maritime Silk Road". This shows that the China-ASEAN relationship is experiencing a major breakthrough.

In consideration of bilateral relations and the changing situation in East Asia, there have been favorable conditions for China and ASEAN to conclude a treaty of good neighborliness, friendship and cooperation.

China needs greater international space to realize the Chinese Dream. To this end, China needs to cement peaceful relations with ASEAN countries by upholding good faith and take the initiative to share its development dividend with neighboring countries and to eliminate any ASEAN countries' misgivings about China. China has been showing its willingness with practical actions to be a good neighbor, good friend and good partner of ASEAN that can stick together through thick and thin with each other.

The ASEAN integration process is at a critical period and its leading role in regional cooperation should be ensured. ASEAN has been playing an active leading role in the construction of regional mechanisms. ASEAN proposed the Regional Comprehensive Economic Partnership in 2011 with the purpose of building a regional trade arrangement with ASEAN as the core. These proposals and initiatives of ASEAN have received China's strong support and active cooperation.

Frankly speaking, with the mechanism construction in East Asia and the Asia-Pacific region being in the ascendant, the central status of ASEAN is faced with new tests. Following the US strategic rebalancing toward the Asia-Pacific, several ASEAN countries misjudged the situation and stirred up trouble in the South China Sea, leading to disparities within ASEAN.

Good-neighborly friendship with China and signing a cooperation treaty will strengthen its community-building and regional cooperation in the leading role. To discuss with China the prospect of concluding a treaty of good neighborliness, friendship and cooperation will help promote ASEAN's community construction and consolidate its role in regional cooperation process.

Though the current overall situation in the Asia-Pacific features peace, stability, development and cooperation, there are still challenges and disturbing factors. In order to ensure smooth development of bilateral relations, the two sides also should further eliminate interference and properly handle differences.

In September, the Sixth Senior Officials' Meeting and the Ninth Joint Working Group's Meeting on the Implementation of the Declaration on the Conduct of Parties in the South China Sea (DOC) were held in China. Consultations on the code of conduct in the South China Sea were held under the framework of carrying out the DOC. This is a positive step in managing the South China Sea issue. And ASEAN should also restrain some of its members from stirring up trouble in the South China Sea for their own selfish interests, which will undermine the peace and stability of the entire region.

Of course, to conclude such a treaty is by no means an easy task, and may take a long process. China and ASEAN's effort in this direction is worthwhile as it will not only greatly promote bilateral relations and enhance mutual trust and cooperation, but also help maintain peace and stability in East Asia and strengthen ASEAN's pivotal status in regional power structure.

The author is deputy director of the China Institute of International Studies.