International programs to improve China's role
 |
| Port of Colombo is a joint investment by China and Sri Lanka as a project of the Belt and Road Initiative. [Photo/Xinhua] |
China and Sri Lanka treat the development of the 21st-Century Maritime Silk Road as an opportunity to further advance bilateral cooperation and infrastructure development.
The Chinese projects in Sri Lanka include a mega Port City project in Colombo, which will be the first of its kind in South Asia, and the development of the Hambantota Port in southern Sri Lanka.
Colombo Port City, the $1.4 billion project, which is currently under construction near the Colombo Harbor, is Sri Lanka's largest foreign direct investment.
The Sri Lankan cabinet in July approved an agreement on the Hambantota Port that China Merchants Port Holdings will own 70 percent stake of the port while Sri Lanka Ports Authority will own 30 percent.
Related stories:
China key to Sri Lanka's economic progress: survey
Hambantota Port deal opens up a new era for China- Sri Lanka cooperation
Sri Lankan cabinet approves agreement with China on Hambantota Port
China-funded Colombo Port City becoming 'shining pearl of Indian Ocean'
- Plateau study on emissions sees region as net gas sink
- Writing's on the wall for out-of-sync Chinese university majors
- Compensation for eco damage totals $4.6b in last decade
- Fudan University holds 120th anniversary ceremony
- Beijing teen makes history with Everest summit climb
- Chemical plant explosion kill five in Shandong
