Chinese Premier Wen Jiabao met with Sri Lankan President Mahinda Rajapaksa in Shanghai Sunday.

China and Sri Lanka enjoy traditional friendship as well as great prospect for trade cooperation, Wen told Rajapaksa, who is in Shanghai for the opening ceremony of the World Expo Summit Forum and the closing ceremony of the Expo on Sunday.

Based upon the Five Principles of Peaceful Co-existence, China will work with Sri Lanka to strengthen cooperation in infrastructure, investment, expand cultural exchanges and closely coordinate in international and regional affairs to promote the comprehensive partnership, Wen said.

Rajapaksa thanked China's assistance and support to Sri Lanka. "China's development contributes to peace and stability in the region as well as the world at large," he said.

Sri Lanka firmly adheres to the One-China policy and hopes to strengthen mutually beneficial cooperation with China, Rajapaksa said, welcoming Chinese enterprises to invest in his country.