Chinese Premier Li Keqiang attends a special summit of the Association of Southeast Asian Nations, China, Japan and the Republic of Korea (ASEAN Plus Three countries or 10+3) on COVID-19 via video link in Beijing, capital of China, April 14, 2020. (Xinhua/Wang Ye)

Chinese Premier Li Keqiang on Tuesday suggested making full use of mechanisms such as the Chiang Mai Initiative Multilateralization to enhance crisis preparedness.

Li made the remarks in Beijing while attending a special summit of the Association of Southeast Asian Nations, China, Japan and the Republic of Korea (ASEAN Plus Three or APT) on COVID-19 via video link.

Li also proposed leveraging the APT Macroeconomic Research Office to strengthen crisis preparedness.

APT countries support the Asian Infrastructure Investment Bank (AIIB) and other multilateral financial institutions in taking prompt actions to ensure adequate liquidity, he said.

"We welcome the AIIB's proposal of a COVID-19 Recovery Facility with an initial capitalization of 5 billion U.S. dollars," Li said.

Chinese Premier Li Keqiang attends a special summit of the Association of Southeast Asian Nations, China, Japan and the Republic of Korea (ASEAN Plus Three countries or 10+3) on COVID-19 via video link in Beijing, capital of China, April 14, 2020. (Xinhua/Wang Ye)