China confirmed its economic powerhouse status at the weekend by concluding deals with poorer Asian states and with Russia on the eve of the Asia-Pacific economic summit.

Although the US and Japan are among the states attending, their Chinese hosts took the limelight by promising $40 billion (£25.2bn) to help Asian nations improve trade links.

President Xi Jinping made the pledge in a meeting with leaders of Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan.