More work on the Lancang-Mekong Cooperation (LMC) is needed to ensure stronger China-ASEAN ties, the executive president of the China-ASEAN Business Council has said.

Xu Ningning called for new measures, including policies to encourage foreign investment and plans to promote partnerships in a number of industries.

Xu's comments came after the publication of a Five-Year Plan of Action on LMC, a framework aimed to make cooperation smoother and more efficient between the six member countries.

Numerous projects were established under the plan, such as hydropower plants in Cambodia constructed by China Huaneng Group.

The plan represents progress in LMC's journey to deepen cooperation between China and ASEAN countries.

"The Lancang-Mekong Cooperation is important to boost regional economic growth and build a community with a shared future. Going ahead it needs to discover more opportunities, aside from existing partnerships in infrastructure like roads and power plants," Xu said.

According to the Ministry of Commerce, trade between China and ASEAN countries hit a record high at $514.8 million in 2017, up 13.8 percent year-on-year. Two-way investment between China and ASEAN countries has surpassed $200 billion.