Sri Lanka’s Standard Chartered gears up for more business under China’s One Belt One Road
Posted on May 4th, 2018
Courtesy NewsIn.Asia
Colombo, May 4 (newsin.asia) – Standard Chartered Bank, on Friday said it is setting up a ‘China Desk’ at its branch in Sri Lanka’s capital Colombo to encourage more Chinese companies to invest in the island under the One Belt One Road initiative.
Sam Xu, Head of Transaction Banking at Standard Chartered in China, who led a delegation of customer relations officers to Sri Lanka, said the markets which all fall within the Belt and Road Initiative are all eligible, important markets which have meaningful bilateral trade relationships with China.
He said the Sri Lankan economy will also benefit under this initiative and the Standard Chartered was encouraging more business from China to invest in the country under the One Belt One Road.
Xu said the Chinese Desk which will soon be set up will help Chinese officials who are still new to Sri Lanka to communicate better with a banker who speaks Chinese.
He said this will also help avoid misunderstandings.
Several big Chinese state-run groups like China Harbhour Engineering Company Limited, China Merchants Port and AVIC have already invested in the country, benefiting Sri Lanka’s infrastructure and economic development.