China has stated its commitment to assisting Sri Lanka as the island nation’s Prime Minister, Dinesh Gunawardena, completed his visit to Beijing aimed at securing a debt restructuring deal. The visit, including meetings with President Xi Jinping and participation in the Boao Forum, addressed the long-standing economic crisis faced by Sri Lanka, where China accounts for a considerable portion of foreign debt. China has expressed its willingness to maintain discussions with Sri Lanka’s financial institutions and other creditors, as well as provide relief through international bodies like the International Monetary Fund (IMF). The joint statement released during the visit emphasized efforts to develop the Port City Colombo and Hambantota Development Project, as part of the Belt and Road initiative. Hambantota port, previously criticized as a white-elephant project, was handed over to China Merchants Group on a 99-year lease after Sri Lanka’s inability to repay a loan. Sri Lanka defaulted on its external debt in 2022, leading to an IMF bailout. While both China and Sri Lanka have agreed in principle to restructure the debt, the details are yet to be finalized, with Sri Lanka aiming for a resolution by April.