China will take control of Myanmar port.

http://www.reuters.com/article/us-china-silkroad-myanmar-port-exclusive-idUSKBN1811DF

This deal is not as simple as it looks.

The truth is China gave up its myitsone dam project in exchange for this port control because the port is of strategic importance to China.

Myanmar faced tremendous pressure by locals who resisted the dam construction.

https://www.nytimes.com/2017/03/31/world/asia/myanmar-china-myitsone-dam-project.html

If Myanmar cancelled the dam project, it would have to pay a penalty of USD$800m which Myanmar couldn't afford.  Therefore, instead of asking Myanmar to pay the penalty, China preferred to take control of the port and pay Myanmar for the controlling stakes.  This strategic move will cost China about USD$10b in total.  When China deems something as strategic important, it is willing to pay for it.

http://www.waterpolitics.com/2017/04/19/the-thirsty-dragon-china-ostensibly-cancels-myitsone-dam-project-in-myanmar-in-favour-of-access-to-kyaukpyu-port/