Sixteen agreements have been signed at the latest meeting of leaders from both the country. These agreements are on infrastructure development in Sri Lanka. China has also offered USD 760 million aid to help the island nation to become "Asia's miracle".

The agreements signed ranged from visa exemption and marine development to economic and technology cooperation with expanded investment and increase imports from Sri Lanka. The agreements also included exemption of holders of diplomatic and service passports of each other countries from visa requirements.

The expanded cooperation between China and Sri Lanka demonstrates deepened political trust, and will help make Sri Lanka a "Asia's miracle" in terms of economic growth. 

Both countries have also signed Cooperation on marine development and management, and economic and technological cooperation.

Other agreements include favourable loans offered by Chinese banks to some major infrastructure projects in Sri Lanka and cooperation on telecommunication and railway system renovation.