Sri Lanka has signed a 10 billion yuan (about USD 1,5 billion) currency swap deal with China with the main motive to promote bilateral trade and direct investment between the two countries. The agreement signed between the Central Bank of Sri Lanka and the People’s Bank of China is valid for three years. China remains Sri Lanka’s largest source of imports. In 2020, imports from China amounted to USD 3.6 billion, or just over 22 per cent of Sri Lanka’s imports.
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