China has invited India to collaborate in building the Colombo International Financial City in Sri Lanka.

Funded by the Chinese government and started in 2014 under the name Colombo Port City, the project is a 269-hectare business district to be built on reclaimed land.

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Speaking at a forum organized by the Sri Lankan National Chamber of Commerce in Colombo, Chinese ambassador to Sri Lanka Yi Xianliang said China welcomes constructive partners, adding that it is open for "collaboration with India." He even noted that China already has strong business contacts with India. 

Meanwhile, the Indian High Commission gave a cautious reply stating that they do not have sufficient details about the project. However, the spokesperson for the High Commission said the Indian government encourages Indian businesses to carry out investment projects in Sri Lanka. It also said that Indian companies have made substantial investments in the island-nation.

India has expressed its concern about China's growing influence in Sri Lanka, though, as it voiced its doubts that China may establish a military base in the country. This was debunked by Sri Lanka Prime Minister Ranil Wickremesinghe who pointed out that there is no military element involved in the Chinese funding.

China is the largest foreign funder of Sri Lanka. The country is likely to invest additional $8 billion worth of foreign direct investment into the Colombo International Financial City, which expects to attract $13 billion in foreign direct investment. 

Tagschina, India, Sri Lanka, Colombo International Financial City