China defends Sri Lankan project in test of its push to invest abroad

[WorldNews]

View attachment 18769​

By Shihar Aneez and Sanjeev Miglani COLOMBO/NEW DELHI (Reuters) - Sri Lanka's suspension of a project to build a glittering skyline on land reclaimed from the Indian Ocean has prompted China to defend its investment, in a test of Beijing's ambitions to fund loans and major infrastructure ventures abroad. Recently elected President Maithripala Sirisena has vowed to look again at deals between China and his predecessor Mahinda Rajapaksa, saying they were not transparent, while India has eyed China's involvement in Sri Lanka with increasing alarm. China's new ambassador to Colombo, Yi Xianliang, said the port city project off Colombo that President Xi Jinping inaugurated last year would create 83,000 jobs.

Continue reading...