Besides investing in infrastructure products, China is also working with Sri Lanka to expand business opportunities.
At an interactive session conducted by the China Business council of the Ceylon Chamber of Commerce, the island's main trade chamber, experts discussed how the Sri Lanka-China business links will be further strengthened in the years to come.
The session focused on export opportunities and challenges in the Chinese market for Sri Lankan exporters.
Sri Lankan trade officials, however, expressed satisfaction over the remarkable growth during the past few years showing positive results of increased export volumes to China.
Sri Lanka's tourism sector too has benefitted from the increasing number of Chinese visiting the country.
In year 2011, the total number of Chinese tourists arriving in Sri Lanka exceeded 16,000 compared to 10,430 in year 2010.
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"This is a positive sign that Chinese travelers have now included Sri Lanka in their travel itineraries and we anticipate further increase of tourist arrivals from China during the year 2012," president of the Sri Lanka-China business Council Prabath Harshakumara said.
China is currently Sri Lanka's main lender.
The China Development Bank Corporation has agreed to provide USD 1.5 billion within three years for construction of roads, bridges, power plants and water and irrigation schemes.
China has lent USD 360 million for the first phase of the new port in Hambantota and its Exim Bank has lent USD 77 million for an oil bunkering facility, while another USD 810 million has been given for the second phase.
China's Exim Bank loaned Sri Lanka USD 455 million to build the first phase of first coal-powered generation station at Norochcholai in the island's west coast, and has offered a USD 891 million loan to build the second phase of 600 MW.
A USD 310 million Chinese loan from its Exim Bank has been granted for the Colombo-Katunayaka express road, which will connect Sri Lanka's only international airport and capital Colombo.
China has also lent USD 190 million for Sri Lanka's second international airport in Hambantota, which is the home base of President Mahinda Rajapaksa.