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China refutes so-called 'debt trap' over SL's Hambantota port project

4 July 2018 09:47 am - 5     - {{hitsCtrl.values.hits}}


China and Sri Lanka are committed to pushing forward cooperation on the Hambantota port project and realizing the goal of making Sri Lanka the logistics center of the Indian Ocean, said a Foreign Ministry spokesperson on Tuesday.

"This is not only conducive to the economic development of Sri Lanka, but also conducive to regional interconnection and the common prosperity of regional countries," Spokesperson Lu Kang told a press briefing.

Lu made the remarks in response to allegations that appeared in US media reports, which stated that China's acquisition of the Hambantota port from Sri Lanka highlights its "debt trap" and ambitious use of loans to gain influence around the world.

Lu said such reports seriously distort the facts, which are either irresponsible or under the orders of people with ulterior motives, "We hope that the relevant media will not be keen on fake news."

The construction of the Hambantota port is the wish of successive governments and people of Sri Lanka, said Lu, adding that China encourages its companies to cooperate with the Sri Lankan side according to commercial principles and on the basis of equality and mutual benefit.

"According to the needs of Sri Lanka, Chinese financial institutions have provided support to Sri Lanka in solving the financing gap. Later, the Chinese side made efforts to adjust relevant asset allocation according to the wishes of the Sri Lankan side," said Lu, noting that those arrangements will benefit the business cooperation between the two sides.

"If the fabricators of the so-called 'debt trap' can not give the developing countries real help, they can at least take a healthy attitude towards the sincere cooperation between other countries," said Lu. (China Daily)

  Comments - 5

  • Rasheed Wednesday, 04 July 2018 12:39 PM

    So the relation MR had with China is now appreciated.

    chandra Wednesday, 04 July 2018 05:07 PM

    China tries to safeguard MR.

    Machan Wednesday, 04 July 2018 08:59 PM

    China gave loans to Sri Lankan people when no one bothered to help us after the war. If the funds where misused we cant blame China. can we?

    Sambo Thursday, 05 July 2018 07:37 AM

    China helped us with ulterior motives. Not because they loved the Sri Lankans. If our fools don't understand that, then what can we do.

    zarc Thursday, 05 July 2018 04:26 PM

    Thanks to this article by the NYT (false or not) which has stirred things up, our country is more aware and able to avoid, to a certain extent, the situations we would be otherwise doomed towards.

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