The visit is the first one to China by President Dissanayake since his taking office, and is of great significance to the development of China-Sri Lanka relations. Dissanayake and his new government,

Sinopec, China's state-owned and largest oil refiner, signed an agreement with Sri Lanka's energy ministry to invest $3.7 billion in a state-of-the-art oil refinery with a capacity of 200,000 barrels, Dissanayake's office announced Thursday.

China will continue to play a "positive role" in the International Monetary Fund and maintain friendly communication with other creditors, in assisting Sri Lanka to achieve financial relief and debt sustainability,

Sri Lanka’s Marxist-leaning President Anura Kumara Dissanayake has held talks with Chinese leader Xi Jinping, one month after visiting India on his first overseas trip since winning election in September.

BEIJING (Reuters) -China and Sri Lanka agreed on more investment and economic cooperation on Wednesday as China's President Xi Jinping met recently-elected Sri Lankan President Anura Kumara Dissanayake in Beijing.

Sri Lankan President Anura Kumara Dissanayake attracted investments and support for debt sustainability from China on his first visit to Beijing since being elected in September.

Sri Lanka will receive its largest FDI from China with a $3.7 billion investment in an oil refinery under China's BRI. Sinopec's refinery deal competes with India's strategic interests in Sri Lanka's energy market.

China places Sri Lanka on top of its neighbourhood diplomacy and supports it in safeguarding its sovereignty, President Xi Jinping told his Sri Lankan counterpart Anura Kumara Dissanayake during their