Business
Starchina International Trade Company to buy 4 million kilo grams annually of Pure Ceylon Tea
Starchina International Trade Company Ltd. of China will buy more than 4 million kilograms of Ceylon Tea annually in terms of an MOU and the import quantity is expected to increase by 10 percent to 15 per cent every year, a government press release said.
The release: The Memorandum of Understanding has been signed with Fujian Starchina International Trade Co. Ltd, a subsidiary of Fuzhou Benny Tea Industries Co. Ltd according to the vision of the government of Sri Lanka to “Promote Investments and Trade”. Minister of Plantations Industries Dr. Ramesh Parthirana and Sri Lanka Tea Board signed a MOU, with one of the largest tea companies in China. The MOU was signed by using Zoom technology in front of the ambassador Dr. Palitha T. B. Kohona of embassy of Sri Lanka in Beijing. The other participants were Jayampathy Molligoda, chairman of the Sri Lanka Tea Board, the Group Chairman of Benny Tea Industries Co. Ltd and the Sri Lanka Tea Board representatives in Beijing and the officials of “BEST Energy Co. Ltd” the local representation of Benny Tea Industries Co. Ltd.
This MOU was Initially recognized and approved by the Board Directors of Sri Lanka Tea Board, Plantation Ministry, Attorney Generals office of Sri Lanka, Ministry of Foreign affairs and finally the President and the Prime Minister, head of the Sri Lankan Cabinet.
Chinese market highlights.
• China retail market value: US$ 6 trillion
• Online penetration value: US$ 1.42 trillion
• Estimated foreign imported goods proportion of online: US$ 569 billion
• Internet users in China: 731 million
• Internet users of middle class consumers in China: 400 million (Year 2020 estimation)
• Mobile monthly active users: 620 million
• Mobile transaction on retail online sales: 90%
• Product/brand comments per day: 20 million
China tea market is rapidly growing and converting Green tea to Black tea with a substantial growth. By 2020, China’s Ceylon Tea imports registered 14.2 million kilograms, year-over-year increase by 20%. Sri Lanka average tea production registered 310 million kilograms per year and renowned as the best and cleanest orthodox teas in the world.
Starchina International Trade Company Limited will buy more than 4 million kilograms per year, and predicted to increase the import quantity by 10%-15% annually. Also improving to purchase value added Ceylon tea year by year starting from 60,000 kgs in the first year. The validity of this agreement for 15 years and the advantage is the buying company assures the quantity with an annual increase for the number of years through a legally bound agreement. Starchina International Trade Company Limited currently operating with over 3000, B 2 B clients and more than 180,000 Milk tea shop clients in China.
All Sri Lankan exporters will be enjoying “ZERO” cost to ge into this market as online platform charges, security deposits, annual renewal charges, logistics, operation and promotion fees depend on occasions and cases.
Special credentials of the agreement
• Starchina International Trade Company Limited offers to List Sri Lankan brands on a “PURE CEYLON TEA DEDICATED” O or O online.
• All these teas are marketed with “Original Sri Lankan Brand Names” to market not only in China but also cross border trading.
• All import being done following prevailing rules and regulations. Sri Lankan tea will be shipped tea complying with Sri Lanka rules and regulations to warehouse in Starchina International Trade Company Limited in Fuzhou, Fujian, China
• Starchina International Trade Company Limited will be buying teas from Sri Lankan tea companies under the supervision of Sri Lanka Tea Board on a pre agreed price to ensuring the present trading system.
• Payment will be done every month to the Sri Lankan tea suppliers. Star china International Trade Company Limited will settle all the dues as per the agreement made between the Sri Lankan suppliers. All sales information can be viewed by the respective Sri Lankan tea supplier to secure the transparency and high standards of business ethics, under the supervision of Sri Lanka Tea Board.
• Starchina International Trade Company Limited is responsible and accountable for all their purchases since all requirement parameters will be checked and purchased from the Sri Lankan suppliers and confirmed according to the Starchina International Trade Company Limited requirements.
• Starchina International Trade Company Limited will hold a variety of Ceylon tea promotion activities in China; participate in exhibitions in Beijing, Shanghai, Guangzhou and other places to help promote dedicated space to Pure Ceylon Tea and Sri Lankan Tea brands.
• Starchina International Trade Company Limited will be participating in the promotional campaigns conducted by Sri Lanka Tea Board and provides fullest support.
• Support on Sri Lanka Tea Factory modernization with technology transfer in aspects of tea plantations systems and tea value addition.
• Business diversification on “TEA TOURISM” involving in services sector by investing a hotel to promote tea culture to the tourist sector.
This is the first occasion that the Sri Lanka Tea Board in getting into signing for an agency (not an exclusive agency ship) agreement with any other country or a private company to increase Ceylon Tea exports. The said MOU and agreement will be uplifted to promote and increase of marketing of Ceylon tea in China in a greater way.
Business
People’s Bank drives push towards cash-lite economy
Marking a significant milestone in Sri Lanka’s digital transformation journey, the National QR Payment Adoption Programme was recently launched with the objective of accelerating the country’s transition towards a cash-lite economy. The initiative aims to reduce reliance on physical currency by promoting the widespread use of QR-based digital payments, enabling individuals and businesses to conduct fast, secure and convenient transactions via mobile devices, said a release from the People’s Bank.
It said: As a leader in digital banking, People’s Bank proudly aligns with this landmark national initiative, reinforcing its commitment to building a digitally empowered economy. The Bank supports the programme through its flagship digital wallet “People’s Pay”, which offers a seamless platform for QR-based transactions and a range of everyday financial services.
In line with the programme’s objectives, customers can perform QR transactions without incurring additional charges, while merchants benefit from zero fees on transactions up to Rs. 5,000. To further encourage adoption, valuable gifts will be awarded to selected winners among LANKAQR users, enhancing engagement and promoting digital payment usage across the country.
People’s Bank’s participation reflects its ongoing digital transformation strategy, which has evolved beyond traditional online banking to deliver an integrated, lifestyle-oriented financial ecosystem. The Bank continues to set industry benchmarks by offering secure, efficient and user-friendly digital platforms, ensuring customers have uninterrupted access to banking services anytime, anywhere.
At the heart of this initiative is People’s Pay, a sophisticated digital wallet designed to streamline everyday financial transactions while catering to the evolving needs of the modern consumer. The application features a seamless self-registration process, comprehensive tri-language support, and secure storage of payment details, ensuring both convenience and security for users.
In addition, the People’s Pay app enables customers to make real-time bill payments and QR-based transactions with exceptional ease and efficiency. The facility to link multiple bank accounts further enhances flexibility and convenience, while the transaction limit provides users with greater financial control and improved security.
In a strategic move to bolster the national QR adoption program, the People’s Pay app now facilitates Peer-to-Peer (P2P) QR transfers. This functionality allows users to generate both static and dynamic QR codes, enabling efficient transactions without the need to disclose sensitive account information.
The National QR Payment Adoption Programme represents a critical step in advancing Sri Lanka’s digital payments landscape. By fostering fast, secure and transparent transaction methods, the initiative aims to ensure inclusive participation in the digital economy, empowering citizens across all regions and communities.
Business
ANC Campus and Adelaide University launch new Australian study pathway for Lankan students
ANC Campus has announced the launch of a formal articulation partnership with Adelaide University at Cinnamon Lakeside, Colombo, creating a clear progression pathway for Sri Lankan students seeking an Australian university degree.
Through this pathway, students can begin their university-level studies at ANC Campus in Sri Lanka before progressing to Adelaide University in Australia, subject to the relevant academic, English language, and entry requirements. By completing the first year through ANC’s Australian Diploma pathway in Sri Lanka, students can significantly reduce the overall cost of their Australian education journey, with estimated first-year savings of up to LKR 13 million when tuition and living expenses are considered.
The launch was attended by representatives of ANC Campus, Adelaide University, and the Australian Trade and Investment Commission (Austrade), alongside members of the media, students, parents, and invited guests. Austrade’s presence highlighted the continued importance of Australia-Sri Lanka education links.
Speaking at the launch, Dayan D. L. Fernando, Chief Executive Officer of ANC Campus, said the partnership gives Sri Lankan students a credible and well-supported route into Australian higher education.
“For over two decades, ANC has worked with international university partners to help Sri Lankan students begin their global education journey with the right academic preparation and guidance. This partnership with Adelaide University gives students a clearer route to an Australian degree and gives parents greater confidence in the pathway their children are choosing,” he said.
Fernando added that international education is one of the most important decisions a family makes, and proper guidance is essential.
“At ANC, our responsibility is to guide students correctly. We must help them understand the pathway, the requirements, the destination, and the opportunities ahead. ANC prepares students for the highest likelihood of success.
Business
Union Assurance honours new batch of certified financial advisers
Union Assurance PLC, Sri Lanka’s longest-standing private Life Insurer, recently hosted the SLIM Certified Financial Adviser Graduation Ceremony at its Head Office premises, recognising 38 professionals who successfully completed the programme, a milestone that reflects the company’s focus on building a highly capable and accredited sales force.
The Certified Financial Adviser programme, delivered in partnership with the Sri Lanka Institute of Marketing (SLIM), the National Body of Marketing in Sri Lanka, which was designed to elevate the expertise of the company’s high performing adviser force. Spanning 11 comprehensive modules covering areas such as Advanced Consultative Selling Skills, Negotiation Mastery, Digital Prospecting Techniques, and Emotional Resilience in Sales, participants underwent a rigorous learning journey that concluded with a formal assignment, bringing the full cohort to completion.
The programme reflects Union Assurance’s commitment to ensuring its advisers are positioned to serve customers with confidence, credibility, and genuine understanding of their needs; values that are central to the company’s purpose of protecting what matters most. The SLIM qualification also opens a structured educational pathway for graduates, with opportunities to advance through further nationally recognised certifications.
Speaking at the ceremony, Chief Agency Officer at Union Assurance, Imtiyaz Aniff stated: “We are pleased to recognise the dedication of our people who committed to this programme alongside their core responsibilities. The SLIM certification equips our advisers with the skills and credentials to serve our customers at a higher standard, and that directly supports the quality of advice we deliver. We look forward to seeing this cohort carry forward what they have learned and continue to grow in their careers.”
Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 80 companies in 7 diverse industry sectors. The Company has completed nearly four decades of success with a Market Capitalisation of Rs. 45.6 Bn and a Life Fund of Rs. 92.8 Bn as of end December 2025. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 3000-strong, Union Assurance continues to invest in people, products and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.
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