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China is one of Sri Lanka's largest development partners, investing billions of dollars in infrastructure development, ports, hospitals, education and tourism in the island country.

China has stepped up efforts to fight against telecom fraud in recent years. Sichuan police have cracked 1,757 telecom and online fraud cases and frozen one billion yuan of fraudulent money so far this year.

China has rolled out 15 opening-up measures in the banking and insurance sectors, which have been largely put into place now, since President Xi Jinping reaffirmed China's commitment to further financial opening-up at the Boao Forum in April last year, said Guo, who is also the chairman of the China Banking and Insurance Regulatory Commission.

China has started the initial work on 6G technologies and commenced effective deployment of 5G technologies in the country by enabling two or more telecom operators to use a single base station for providing multiple services, the Ministry of Industry and Information Technology said on Thursday.

China is already a leader in green finance, having issued billion of green bonds in 2016, which was almost 40 percent of the billion of green bonds issued globally.