May 03, 2018 (LBO) – The Standard Chartered Bank (Sri Lanka) said they would be setting up a China Desk to expedite trade and business operations between the two countries.
Chinese companies are showing interest in Sri Lanka under the One Belt One Road intitiative, a senior bank official said.
“Many of our clients are now are moving to Asia and Africa under China’s Belt and Road initiative,” Sam Xu, head of Transaction Banking at Standard Chartered in China said.
“There has been growing engagement by China in Sri Lanka initially with Government-to-Government agreements and investments in key infrastructure.”
Chinese companies like China Communications Constructions Company (CCCC), AVIC are already in operation in the island.
Xu is part of a team from the Standard Chartered Bank (China) Ltd., who’s team visited the island last week to meet officials of Chinese companies engaged in various mega projects in Sri Lanka.
The bank has around 1,000 branches and outlets in over 60 countries and regions.