China welcomes Prime Minister Wickremesinghe's "powerful refutation" of Chinese loans being a debt trap

China has welcomed a statement made by Prime Minister Ranil Wickremesinghe on the sidelines of the World Economic Forum, where he said Chinese loans were not a threat to the country.

"I have seen relevant reports and welcomed Prime Minister Wickremesinghe’s statement. This is a powerful refutation of the nickname that China has set up a “debt trap” in Sri Lanka and that Sri Lanka was forced to “sell” the port to China,” Chinese Foreign Ministry spokesperson, Geng Shuang was quoted by agencies as saying during a media briefing.

Mr Geng reiterated that China’s aid to Sri Lanka had never been attached to any political conditions and had never sought any political self-interest in the investment and financing of Sri Lanka.

“The cooperation between China and Sri Lanka under the framework of the Belt and Road will not only benefit the two peoples but also contribute to regional economic development and interconnection,” mr Geng was quoted as saying.