China’s Economy and Nepal’s Development

indexKATHMANDU, March 8 (Nepal Foreign Affairs)–China is the world’s largest developing country. In its development, it has endeavored to integrate the interests of the Chinese people with people of other countries, providing assistance to the best of its ability to other developing countries, especially the least developed countries (LDCs), to reduce poverty and improve livelihood. China has proactively promoted international development and cooperation and played a constructive role in this aspect.

In 2014, China initiated the “One Belt and One Road” Strategy, which is not a Chinese solo, but a real chorus comprising all countries along the routes. It is a proposal and plan to promote global cooperation, common development and prosperity. It aims to realize mutual benefit and win-win development through exchanges and cooperation in policy, trade, currency, infrastructure, humanity and other aspects under the principle of joint negotiation, construction and sharing. Nepal, as an important thoroughfare of ancient Commercial Silk Road, will surely accomplish and benefit much from it.

Moreover, the establishment of the Asian Infrastructure Investment Bank (AIIB) opens new avenues for Nepal to obtain infrastructure development financing. Believe that Nepal will develop faster in the future.

China also proposed to build a high-standard free trade zone network globally. Hope China and Nepal will jointly promote the procedures on Free Trade Agreement Negotiation between two countries, which will further enhance the bilateral trade relations.

In the past 2015, China’s imports and exports of goods continued to lead the world. Since 2013, China has been the world’s No. 1 in goods trade for three consecutive years. China’s Foreign Direct Investment (FDI) continued to lead developing countries for 24 years in a row, and its Overseas Direct Investment (ODI) ranked third in the world. It’s fair to say that China has delivered a satisfactory report sheet on China’s growth and international economic impetus.

There are many achievements of China’s contribution to Nepal’s development. Take China’s foreign aid and investment as examples:

The B.P. Koirala Memorial Cancer Hospital of Nepal is a modern hospital and the first national cancer center of its kind for the fight against cancer in Nepal which was funded and constructed by the Chinese Government during 1996-1998. After the establishment of the Hospital, the Chinese Government has dispatched 9 groups of medical teams to the Hospital for providing technical and training support to improve its medical service. By working together and close cooperation, the medical technicians from both countries have obtained significant achievements in medical service and forged profound friendship. B. P. Koirala Memorial Cancer Hospital has now widely been recognized as one of the best and most welcome hospitals in Nepal and South Asia countries. Beyond that, there are more than 40 China-aid Complete Projects in Nepal, including significant Arniko Highway, Kathmandu-Pokhara Highway, Syafrubesi-Rasuwagadhi Highway, Kathmandu Ring Road, International Convention Center, Banepa Polytechnic Institute, Civil Service Hospital, etc. Moreover, China provided Nepal with large quantity of goods and materials, such as medical equipments, sports equipments, Election materials for Nepal Constituent Assembly and so on.

Last year, during the devastating earthquake period, Chinese Government responded quickly to give a hand to Nepal. Within only 40 days after the earthquake happened, China provided Nepal with 3 batches of relief goods, including tent, tarpaulin, generator, first-aid package, etc., totally worth 140 million RMB. In addition, China dispatched several emergency rescue teams and medical teams to Nepal for the relief work. With the joint efforts, Nepali people conquered the disaster and got down to the post-disaster reconstruction, to which China had been continuing to provide assistance.

In the aspect of investment, Tibet Airlines has set a very good example as it is the largest foreign direct investment in the civil aviation industry of Nepal to date. Tibet Airlines has a significant contribution in the establishment of Himalaya Airlines with providing human resources in the fields of aircraft maintenance, flight operations, commercial, finance and management. Now the company has planned to start international flights operation on 12th April 2016 scheduling its first services to Doha (Qatar) and Delhi (India) followed by Lhasa, Chengdu and Beijing in China a few months later.

China is willing to respond to the desire and needs of Nepal, strongly support and help Nepal for post-disaster reconstruction, enhance the mutual beneficial cooperation in all kinds of fields, and promote the development level of all-round cooperative partnership between China and Nepal.

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