News

Lanka’s exports to China up by 111.2% so far this year

Published

4 years ago

2021/11/13

Sri Lanka’s exports to China is up by 111.2% so far this year, Chinese Ambassador to Sri Lanka Qi Zhenhong said yesterday in a statement. He said that the two nations have been standing together and helping each other in the fighting against the pandemic.

Pointing out that Sri Lanka’s GDP achieved growth of 8% in the first half of this year, Zhenhong said the cooperation between two countries in trade, investment, finance, etc., also bore fruitful results, with the value of bilateral trade in goods up by 54.7% year on year for the first three quarters

“Major cooperation projects especially the Hambantota Port and Port City Colombo becoming new magnets to attract foreign investment. China looks forward to joining hands with Sri Lanka in defeating the Pandemic and promoting bilateral pragmatic cooperation to achieve new breakthroughs in the days to come; China is also willing to share development opportunities and draw up a blueprint for development with countries around the world to achieve greater and better development,” he said.

Zhenhong said that the Chinese economy is thriving despite the threat of the pandemic and that China’s gross domestic product (GDP) reached 82.31 trillion yuan in the first three quarters of 2021. This is a 9.8% increase over the same period last year at comparable prices, with an average two-year growth of 5.2%.

“Despite the continuous impact of COVID-19 worldwide, China’s economy was growing steadily. Its optimised and upgraded economy showed extraordinary resilience to pressure, contributed significantly to the stabilisation and restoration of the global supply chain, and injected much-needed confidence and impetus into the current world economy with uncertainty,” he said.

The Ambassador said that Sri Lanka can benefit from this thriving economy by increasing exports to identified areas. Admittedly, the Chinese economy is also faced with some challenges, including the unbalanced and inadequate development, factors restricting investment and consumer demand, structural contradiction of employment, uncertainty caused by the pandemic situation globally, and international commodity prices running high, etc., he said. However, these do not take from the indicators that the coming years would be good for the Chinese economy.

“China is striving to build a new development pattern with the domestic cycle as the mainstay and the domestic and international cycles reinforcing each other. The economic fundamentals that will sustain stable and long-term growth remain unchanged: major macro indicators have stayed within a reasonable range and the national economy maintains the trend of recovery; the economic structure has been adjusted and optimized and the quality and efficiency of development are improved; the deepening of reform and opening-up is advancing and economic development is getting stronger momentum; residents’ income continues to grow and people’s livelihood gets powerful and effective support.” he said.

Given below are excerpts from the statement: “First, the consumer price index (CPI) was at a relatively low level (up by 0.6% year on year). Prices of daily necessities were stable with a slight decline and food prices have dropped by 1.6%. Second, employment was generally stable. 10.45 million new jobs were created in urban areas, achieving 95% of this year’s target; surveyed urban unemployment rate was 5.2%. Third, steady progress was witnessed in the development of industries. The total output of summer grain and early rice increased by 3.69 million tons compared to last year and the sown area for autumn grain also expanded. The value added of high-tech manufacturing industry increased by 20.1% year on year with an average two-year growth of 12.8%. Fourth, foreign trade and investment grew rapidly. The trade value of goods increased by 22.7% year on year in the first three quarters, with widened trade surplus and optimized trade structure. Paid-in foreign investment continued to increase (up by 22.3% for the first eight months) and foreign exchange reserves remained stable, maintaining above USD 3.2 trillion for five consecutive months. Fifth, there was sustained recovery of domestic demand. Investment in the manufacturing industry and private investment achieved average two-year growth of 3.3% and 3.7% respectively. The per capita disposable income rose by 9.7% year on year, basically in line with GDP growth. Sixth, innovation and entrepreneurship gained sound momentum. China has moved up and ranks the 12th in WIPO’s “Global Innovation Index 2021″. Market entities have increased rapidly, with a total number of nearly 150 million and the overall level of activity around 70%. Seventh, the development vitality of enterprises was stimulated. For the first eight months, the value added of medium-sized industrial enterprises and micro and small ones above designated size increased by 16.3% and 14.1% year on year respectively and the total profit of industrial enterprises above designated size recorded an average two-year growth of 19.5%. Eighth, financing cost in general has been steadily decreasing. From January to August, the corporate loan interest rate was 4.63%, down by 0.13% over the same period of last year.”

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News

NPP: Speaker won’t step down, CIABOC can investigate him

Published

3 hours ago

2026/02/10

Sahan Weerasooriya

Nihal

* New Auditor General should not have been sworn in before Speaker – Opp.

* Suspended House Dy. Sec. Gen. Chaminda Kularatne takes his case to CA today

General Secretary of the National People’s Power (NPP) Dr. Nihal Abeysinghe yesterday said that there was no need for Speaker Dr. Jagath Wickramaratne to step down in view of the complaint lodged against him with the CIABOC (Commission to Investigate Allegations of Bribery or Corruption).

NPP General Secretary said so in response to The Island query whether the parliamentary group of the ruling party discussed the growing Opposition calls for the Speaker, who is also the Chairman of the Constitutional Council, to step down to facilitate the investigation.

The NPP parliamentary group consists of 159 MPs, including 18 National List (NL) members.

NL member Dr. Abeysinghe asked whether any other person, who had been investigated by the CIABOC, stepped down from his or her position to facilitate the inquiry.

The top official emphasised that the CIABOC could go ahead with its investigation without any hindrance.

Chamindra and Dr. Jagath

Opposition sources said that there hadn’t been a similar situation before and the CIABOC investigation into Speaker Dr. Wickramaratne is unprecedented as he heads the 10-member CC responsible and directly involved in all key appointments, including that of members to the CIABOC.

Sources pointed out that the newly appointed Auditor General, Ms. Samudrika Jayaratne, took the oath of secrecy before the Speaker on 5 February in Parliament after suspended Deputy General Secretary of Parliament Chaminda Kularatne complained to CIABOC.

In accordance with Section 9 of the National Audit Act, No. 19 of 2018, Jayaratne took the oath of secrecy in her capacity as the Auditor General of the National Audit Office and Chairperson of the Audit Service Commission.

Sources said that Kularatne would move the Court of Appeal today (10) against his removal at the behest of the Staff Advisory Committee, headed by the Speaker.

By Shamindra Ferdinando

News

Trinco Buddha statue case: All suspects, including 4 monks re-remanded till 11 Feb.

Published

3 hours ago

2026/02/10

Sahan Weerasooriya

One of the monks being brought to the Magistrate’s Court

The Trincomalee Magistrate’s Court yesterday (09) further remanded 10 persons, including four Buddhist monks, arrested on 19 January, 2026, for allegedly placing a Buddha statue in the coastal reservation, on 16 January.

The Buddhist monks, including Ven. Balangoda Kassapa Thera, and six other individuals, were further remanded until 11 February.

They have been accused of violating the Coast Conservation Act by placing a Buddha statue on a block of land belonging to the Trincomalee Bodhiraja Temple.

Of the four monks, Ven Balangoda Kassapa Thera and Ven Trincomalee Kalyanawansa Tissa Thera moved the Court of Appeal against the Magistrate’s Court decision. The case was heard on 22 January before a Bench comprising the President of the Court of Appeal, Justice Rohantha Abeysuriya, and Justice K. Priyantha Fernando.

Manohara de Silva, PC, and President’s Counsel Uditha Igalahewa, PC, appearing for the petitioners, urged the Court to take up the matter urgently, describing it as a case of exceptional importance.

However, the Court of Appeal on 3 February dismissed the petitions against the remanding of Ven Balangoda Kassapa Thera and Ven Trincomalee Kalyanawansa Tissa Thera.

The order was issued by the Court of Appeal bench consisting of the President of the Court of Appeal, Justice Rohantha Abesuriya and Justice Priyantha Fernando.

News

Pakistan HC commemorates Kashmir Solidarity Day

Published

3 hours ago

2026/02/10

Sahan Weerasooriya

Exhibition focusing on Kashmir (pic courtesy PHC)

The Pakistan High Commission in Colombo recently organised a seminar and photo exhibition at the HC premises to commemorate Kashmir Solidarity Day. The following is the text of the statement issued by the PHC: “The event highlighted Pakistan’s continued support for the Kashmiri people and emphasised the importance of a peaceful and just resolution of the Jammu and Kashmir dispute. Members of the Pakistani community, friends of Kashmir, and local journalists attended the event.

The seminar concluded with remarks by the High Commissioner of the Islamic Republic of Pakistan, Major General (R) Faheem-ul-Aziz, HI (M). He reaffirmed Pakistan’s principled stance on the Jammu & Kashmir issue and underscored the need for sustained international engagement. He noted that the situation in Indian Illegally Occupied Jammu & Kashmir (IIOJK) has remained a matter of concern for decades and called upon the international community, particularly the United Nations, to play its role in promoting peace, stability, and respect for human rights.

The High Commissioner emphasised that the Jammu and Kashmir dispute should be resolved in accordance with international law and relevant UN Security Council resolutions, cautioning that prolonged tensions could have broader implications for regional peace and security.

The event featured keynote addresses by Shiraz Yunus and Ms. Suriya Rizvi, who highlighted the importance of dialogue, interfaith harmony, and peaceful coexistence. They also drew attention to humanitarian concerns and stressed the need for safeguarding fundamental rights in the region.

Earlier, messages from the President and the Prime Minister of Pakistan, issued on the occasion of Kashmir Solidarity Day, were read out by the Press Attaché and the Trade & Investment Attaché, respectively.

As part of the Photo Exhibition, photographs and digital presentations, depicting the humanitarian situation in IIOJK, were displayed during the seminar.”