The world's second-largest economy raised its hand this week to help halt the ongoing ethnic cleansing in Myanmar. But it's not just altruism: China has an eye on ensuring stability for its hefty investments in the region.

In the wake of rising brutality against Rohingya Muslims, an ethnic minority in Buddhist-majority Myanmar, China proposed a three-point plan to resolve a crisis that threatens to bring a return of U.S. sanctions to the former military dictatorship.

The proposal involves a cease-fire, repatriation of refugees from neighboring Bangladesh and talks for a long-term solution to improve economic prosperity in the northern Burmese state of Rakhine, where the Rohingya are largely based. As one of Myanmar's poorest provinces, Rakhine is also the site of a special economic zone currently being built by a China-led consortium.

Based in Kyaukpyu, one of Rakhine's major towns, the zone includes a $7.3 billion deep sea port, oil and gas pipelines that will run from Rakhine's coast to China's Yunnan province and a $2.3 billion industrial park.

It's not unusual for Beijing to intervene in Burmese domestic affairs — China has previously played a mediating role in Myanmar's Kachin and Shan states, areas also struck by ethnic strife. But the Asian giant's latest diplomatic initiative has a clear business agenda, analysts said.

"It is fair to say that commercial interests are at play, China has significant investments in Rakhine state, the center of the crisis," said Nick Marro, China analyst at The Economist Intelligence Unit.