Chinese author writes guide to investing in Sri Lanka under One Belt One Road Initiative

Saturday, 8 June 2019 00:10 - - {{hitsCtrl.values.hits}}

Zhang Zhe of Communication University of China hands a copy of her book “Guide to Investment in Sri Lanka” to Sri Lanka China Trade and Investment Council President Sun Lai Yung

By Sun Lai Yung

Life is a many splendored thing. Zhang Zhe studied Sinhala at Communication University of China in Beijing. Although she could read, write and speak Sinhala, she never visited Sri Lanka until 2007, to study for her Master’s degree in Sinhala at Kelaniya University. Studying and living in Sri Lanka, she also adopted a Sinhala name, “Dharshani”, a literal translation of her Chinese name “Zhe” which means ‘philosophy’ in Chinese. Since then, she has considered Sri Lanka as her second home.

Today she is the Head of International Students at Communication University of China (CUC). She is also the author of “Guide to Investment in Sri Lanka”, a publication by China Council for Promotion of International Trade (CCPIT). This publication is part of the One Belt One Road initiative by President Xi Jing Ping.

The book, written in Chinese, is for the Chinese investor who wants to do business in Sri Lanka, a timely publication for the first-time investor in Sri Lanka. The book covers key areas such as:

Starting a business and Business Registration
Types of Business Registrations
Registering for TIN (Tax Identification Number)
Registration for VAT (Value Added Tax)
Paying NBT (Nation Building Tax)
Personal tax
Corporate taxes
Withholding taxes
Property laws
Arbitration
Audit requirements
Labour laws
Payroll systems
Banking
Foreign exchange
Inward and outward remittances
Expatriation of profits, loans and interests
Case studies

The Guide to Investing in Sri Lanka has a full page write-up on the Board of Investment (BOI), and also to the professional services by the China Investment Desk at KPMG, headed by Sun Lai Yung. According to Xia, a Chinese investor in Sri Lanka, the book is very comprehensive and well-organised, providing useful guidelines, especially on the laws relating to investments in Sri Lanka. He further states: “It’s a valuable and commendable book, almost a one-stop shop where time and money are not wasted on endless and sometimes fruitless searching.” Xia personally liked the case studies at the end of the book.

Zhang Zhe has taught Sinhala at CUC. She has contributed immensely to the Sri Lanka-China friendship by authoring the lyrics of “Sino–Sri Lanka Friendship” for the 50th anniversary of the China-Sri Lanka diplomatic relationship in 2007. Zhang has promoted Sri Lanka by holding a Sri Lankan Film Festival in Beijing. She has also written a book in Sinhala titled “Basic Chinese Teaching”, and hosted the Sinhala service at China Radio International (CRI). She had a live program on CRI to promote Sri Lankan culture and food.

I met her in Beijing where she handed a signed copy of her book in gratitude for the advice and guidance given for the book. Despite the current security issues, she was looking forward to visit Sri Lanka this year. Sri Lanka needs investors and a friend like Zhang Zhe.

[Sun Lai Yung is the President of the Sri Lanka China Trade and Investment Council (SLCTIC). He can be contacted by email at [email protected].]