Sheng is due to be received at the airport by a government delegation led by speaker Karu Jayasuriya.
He will hold talks with the president and the prime minister.
Meanwhile, a subcommittee studying the port handover has formulated a draft agreement that will be advantageous to Sri Lanka, its member Champika Ranawaka told Sri Lanka Mirror.
Port minister Arjuna Ranatunga too, has said the new proposal has resolved many outstanding issues.
Director board members of China Merchant Holdings are awaiting the consent of president Sirisena to sign the agreement.
Meanwhile, UNP MP Nalin Bandara told the media at Sirikotha that there were no disruptions left against the signing of the agreement.