Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Democracy that banks on the electorate
access_time 28 March 2024 5:34 AM GMT
Lessons to learn from Moscow terror attack
access_time 27 March 2024 6:10 AM GMT
Gaza
access_time 26 March 2024 4:34 AM GMT
The poison is not in words, but inside
access_time 25 March 2024 5:42 AM GMT
A witchhunt, plain and simple
access_time 23 March 2024 9:35 AM GMT
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Ramadan: Its essence and lessons
access_time 13 March 2024 9:24 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
exit_to_app
Homechevron_rightWorldchevron_rightChina 'not narrow...

China 'not narrow minded' to oppose Indian investments in Lanka: Official

text_fields
bookmark_border
cancel
camera_alt"

Geng Shuang

"

Beijing: China on Thursday said it is "not narrow minded" to oppose the Indian investments in Sri Lanka, as it reacted guardedly to reports of USD 3.85 billion joint venture between India's Accord Group and Oman's oil ministry to build a refinery in the island nation.

Sri Lanka's Deputy Minister of Development strategies and International Trade Nalin Bandara was quoted as saying by the local media that the Oman Oil Ministry and a Singapore investment vehicle owned by India's Accord Group have agreed to construct an oil refinery in the country, the biggest foreign direct investment in Lanka.

China has acquired Hambantota port for 99-year lease as a debt swap.

Asked for his reaction to the oil refinery in Lanka and whether China is concerned about the Indian investments there, Foreign Ministry spokesman Geng Shuang told the media here that Beijing has an "open attitude" regarding India's investments in the island nation.

"I don't have relevant information as of now. But I want to say China and Sri Lanka have cooperation in many areas that yielded concrete outcomes. As far as the port (Hambantota) you mentioned, (it is) another example of our fruitful cooperation," Geng said.

"We have an open attitude towards Indian investment in Sri Lanka. While we make our contribution to the development of Sri Lanka, China is not as narrow minded as you thought," he said.

Chinese investments over the years in Sri Lanka amounted to over USD eight billion adding pressure to Colombo's external debt burden.

China's acquisition of Hambantota port as a debt swap has raised concerns about Beijing's Belt and Road Initiative (BRI), which US has cautioned as debt trap specially for smaller countries.

The Belt and Road Initiative is a multi-billion-dollar initiative launched by Chinese President Xi Jinping when he came to power in 2013. It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea route.

Show Full Article
News Summary - China 'not narrow minded' to oppose Indian investments in Lanka: Official
Next Story