Sri Lanka and China have finally signed a tripartite agreement to proceed with the construction of a Financial City Center in capital Colombo. Sri Lanka's Urban Development Authority, the Ministry of Megapolis and Western Development and the China Harbor Engineering Company Ltd signed the agreement Friday evening for the development of Colombo International Financial City (CIFC) formerly known as the Colombo Port City. Speaking at the signing ceremony, Minister of Megapolis and Western Development Champika Ranawaka said that the Financial City will be one of the key phenomenon which will decide the future development of Sri Lanka.