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Bank of China to open Colombo branch

The Bank of china is to open a branch in Sri Lanka's capital later this year, the Daily Mirror reported. 

China's spokesperson at the embassy reportedly told the paper that it would be opened with an initial capital of US$ 90 million with the aim of facilitating financial transactions between the two states. 

If opened this would be the first branch of China's state bank in South Asia. Overseas branches are currently located in the US, UK, Canada, Kenya and South Africa.