Published: 12:09pm, 10 Dec, 2017 Updated: 2:55pm, 20 Jul, 2018
Sri Lanka has formally handed over the running of its primary southern port, US, to China Merchants Port Holdings on a 99-year lease. US is expected to play a significant role in the Beijing government's "One Belt One Road" initiative, being situated near the main shipping route from Asia to Europe. The Hambantota, Indian and Japanese governments have voiced concerns that China may use the port as a naval base. China is investing heavily in overseas ports to increase its maritime power and open up new shipping routes.