BEIJING: Taking advantage of the US government shutdown , China has taken center stage of the Asia-Pacific Economic Cooperation ( Apec ) summit in Indonesia and proposed a 'maritime silk route' connecting China and South East Asia.

US President Barack Obama has cancelled his visit to the Apec summit and dispatched secretary of state John Kerry to the meeting because of the budget crisis at home.

"China cannot develop in isolation of the Asia-Pacific and the Asia-Pacific cannot prosper without China," Chinese President Xi Xinping said suggesting that countries in the region may need Chinese cooperation more than they need US backing.

Beijing is also hoping the enhanced cooperation on the proposed maritime silk route will soften the adverse impact of its disputes with five sea neighbors over ownership of islands , sources said.

Xi has signed over $100 billion worth of contracts during his recent tours of Central Asia and South East Asia indicating a sharp spurt in Beijing's efforts to woo the Asian market. More deals are in the pipeline as Chinese premier Li Keqiang is due to begin on a four nation tour that would include Thailand and Vietnam on Wednesday.

The enhanced focus on Asian markets might augur well for Prime Minister Manmohan Singh 's forthcoming visit to Beijing, which is expected to take place on October 23. India and China are expected to ink some major agreements covering prickly issues like market access during the visit.

"Beijing is basically saying it will bankroll big projects in the neighborhood. The implicit signal is to keep US companies out of the Asian circuit. The move gives China a strategic advantages, and produces more demand to feed its factories," an investment banker from a US bank told TNN.

China is desperate to tap more of the Asian market because demand for its exports from Europe and the US in on the slide, sources said.

Two-way trade between India and China was $26.5 billion in the first five months of 2013 till May. The two neighbors clocked $67 billion in bilateral trade in 2012, falling from $74 billion the year before. Both countries are looking forward to a major decision during Singh's Beijing visit to jumpstart the economic relationship.

Pushing for regional free trade agreements, Xi said in Jakarta, "As a Chinese saying goes, 'The Ocean is vast because it admits hundreds of rivers'. China has always actively supported and participated in the process of Asia-Pacific economic integration."