China-Nepal Cooperation: News & Updates

[ahojunk]

Nepal-China need to work on understanding: Liu
Published: December 20, 2016 5:25 am
HIMALAYAN NEWS SERVICE

Visiting Chinese leader and a politburo member of the Communist Party of China, Liu Qibao, meets Nepal’s PM Pushpa Kamal Dahal at latter’s official residence at Baluwatar, in Kathmandu, on Monday, December 19, 2016.


Visiting Chinese leader and a politburo member of the Communist Party of China, Liu Qibao today said China wishes to see a successful and smooth implementation of Nepal’s new constitution.

In a meeting with Prime Minister Pushpa Kamal Dahal, he also hoped for an early resolution of the current political stalemate and also to see the country move forward on the path of economic development.

The 45-minute meeting dwelt on enhancing Nepal-China relations in multiple areas.

“During the meeting, views were exchanged on matters of mutual interest including the development of infrastructure, improvement of connectivity, promotion of trade and investment, maintaining high-level contacts and visits, and cooperation in tourism etc,” the Ministry of Foreign Affairs said in a press release.

Liu arrived on a three-day visit yesterday. He is the most high-profile Chinese leader to visit Nepal in the last three years. He holds the rank of a vice-premier and controls the CPC’s influential propaganda department.

According to the prime minister’s Foreign Affairs Adviser Rishi Raj Adhikari, Prime Minister Dahal said that the government was trying to resolve political problems through constitutional amendment so as to bring all stakeholders on board.

Dahal further said his government was fully committed to further strengthening political, economic and social ties between Nepal and China, read a statement issued by the Prime Minister’s Secretariat.

On the occasion, Dahal said that Nepal was desperate to host Chinese President Xi Jinping in Nepal at the earliest possible date and urged Liu to convey this message to the Chinese President.

The Chinese leader, on his part, said China attaches high importance to its relations with Nepal and appreciated Nepal’s “One China Policy”.

He also said that his country was very positive towards opening Nepal’s northern routes to China, including the Kodari Highway, which has been blocked since the earthquake of April 2015.

Earlier today, Deputy Prime Minister and Finance Minister Krisha Bahadur Mahara and Liu had jointly inaugurated a China Festival at Hotel Yak and Yeti.

During the occasion they also witnessed signing of four agreements regarding enhancing cooperation on press, publications and broadcasters.

 

[JSCh]

Nepal's Kathmandu and China's Chengdu become sister cities
Source: Xinhua 2016-12-24 00:51:05

KATHMANDU, Dec. 23 (Xinhua) -- Nepali capital city Kathmandu and Chinese city Chengdu have formally entered into the bond of sister cities.

An agreement to that effect was signed here by Chief of Kathmandu Metropolitan City Rudra Singh Tamang and visiting Party Secretary of CPC Chengdu Committee Tang Liangzhi.

The sister city relationship is expected to enhance mutual understanding and friendship between the people of two countries and to consolidate and develop friendly cooperation between the two cities.

"This concept of sister city relationship is another milestone in enhancing our bilateral ties, especially among people of two cities. The two cities will complement each other on various fields like tourism promotion, capacity development, infrastructures and information and communications as per the need", Rudra Singh Tamang, Chief of Kathmandu Metropolitan City said after signing the agreement.

He expressed hope that the new bonding would pave the way for economic cooperation and development projects.

The two cities have agreed to make concerted efforts on the basis of equality and mutual benefit, with special focus in the areas of trade, culture, tourism, education, agriculture, health-care, urban planning and crisis management.

The two cities have further agreed to strengthen the exchange of high-level visits, encourage and facilitate communication between municipal governments.

Tang Liangzhi, Party Secretary of CPC Chengdu Committee said, "Chengdu is an economic center enriched with science and technology and advancements in information and communication while Kathmandu is a hub for politics, economics and culture. We can be hopeful about substantial projects and bussiness cooperation in the coming days."

Tang also mentioned that both cities have found common interest in various areas such as water supply treatment, energy, finance and urban management.

The twin cities will promote economic and trade cooperation and organize activities for the economic growth of each other.

Custom statistics state that from January to October 2016, the total exportimport volume between Chengdu and Nepal reached 5.8 million US dollars, including 4.86 million dollars in export and 930,000 dollars in import.

"Chengdu is a very big market so we have high business opportunities. Our trading deficit is quite high as we are highly dependent upon imports. So, we need to focus on trade, investment and tourism that can benefit not just Kathmandu, but both the cities," Dr. Rajesh Kazi Shrestha, President of Nepal China Chamber of Commerce and Industry told Xinhua.

The products which Chengdu exports to Nepal include textile, clothing, silks, insulated wire, cable and western medicine while the imported products include raw hide as well as leather ware, miscellaneous articles of base metal, presswork, furniture and clothing.

The two cities will also work together for the promotion of tourism as they already have direct air connectivity through Air China and Sichuan Airlines. Currently, there are 12 flights per week flying from Chengdu to Kathmandu.

"As we receive huge number of tourists from Sichuan province, especially Chengdu, we are hopeful that this new bonding will attract more number of Chinese to Nepal," Nirajan Tiwari, a Nepali tourism entrepreneur and owner of Nimi Travels and Tours told Xinhua.

Nepal can learn about the urban management techniques from Chengdu while Chengdu can learn about hospitality from Nepal as our country welcomes large number of foreign tourists every year, he said.

"It's also an opportunity for learning each other's culture and lifestyle," he said.

 

[TaiShang]

China-invested hydropower plant starts operation in Nepal

Xinhua, December 31, 2016

Upper Madi Hydropower Project, a China-Nepal joint venture company, started generating power on Friday, giving much-needed boost to the government's effort to reduce load shedding in this winter.

The 25MW power plant is the second China-invested power project in Nepal coming online in the past three months.

Earlier, 50MW Upper Marsyangdi-A Hydroelectric Project, developed by another China-Nepal joint venture company, had started operation in September.

Energy Minister Janardan Sharma inaugurated the Upper Madi plant site in Kaski district in western Nepal on Friday.

Sharma said the development of hydropower projects with the participation of private sector was helping reduce the load shedding in the country.

China International Water & Electric Co (CWE) has bankrolled the project under the build, own, operate and transfer (BOOT) model together with Nepalese investor Bijay Babu Malla.

CWE, a wholly-owned subsidiary of China Three Gorges Corporation (CTG), is also developing the 750MW West Seti Hydropower Project. Chinese contractor Sino Hydro started the construction work in December 2012.

Malla said the completion of the plant would encourage them to make investment further. "We are now also studying the possibility of investing in another 98MW hydel project," he told Xinhua.

According to the Independent Power Producers of Nepal (IPPAN), private sector power producers added 140MW of power in 2016.

"The Chinese companies investing in partnership with Nepalese investors is great news for Nepal," said IPPAN President Khadga Bahadur Bisht. "We are also finding growing interest among Chinese investors to make investment in Nepal's hydropower sector."

 

[TaiShang]

China-Nepal relations cordial, cooperative: Nepalese official

(Xinhua) 10:45, January 18, 2017

Bilateral relations between Nepal and China have always been "cordial, cooperative, marked with mutual trust and friendship," said Chairman of Rastriya Prajatantra Party and former Deputy Prime Minister Kamal Thapa.

Thapa made the remarks at a two-day "China-Nepal Think Tank Conference 2017" which was inaugurated in Kathmandu on Tuesday.

The conference was jointly organized by Xinhua News Agency's Kathmandu Bureau and Nepal Study Center at Hebei University of Economics and Business of China.

Inaugurating the event former Prime Minister and Chairman of CPN UML K.P Sharma Oli said "Nepal and Nepalese people won't allow any elements to jeopardize friendly relations between the two countries."

"Nepal has firm, steady and stable relation with China," Thapa said.

Nepalese Congress Central Committee Member Gururaj Ghimire said that Nepal-China relations are unbreakable. "No force can shake the Nepal-China relations," he said expressing his party's firm commitment toward One China Policy.

Madhes-based Sanghiya Samjabadi Party leader Shivajee Yadav recalled the role of China during the unrest after the constitution promulgation in September, 2015.

"China did not interfere in Nepal affairs at that time. It respected Nepal's sovereignty. We are thankful to China," he said.

Huang Youyi, Secretary General, International Advisory Board of The Chahar Institute of China, said that China is reliable friend of Nepal.

"Nepal is China's special friend," he said, "and we will build a mechanism to implement what you have initiated during your tenure," he added.

Fourteen Chinese scholars from different universities are participating in the two-day event. During the two-day event, experts from China and Nepal are sharing their ideas on various issues including political parties' role in Sino-Nepal relationship, role of media in cementing friendly cooperation between Nepal and China, the Belt and Road Initiative, China-India-Nepal trilateral partnership as well as Economic and Cultural Corridor (CINECC).

The main objective of the symposium is to strengthen cooperation between the Chinese and Nepalese Think-Tanks-Institutions so as to enhancing bilateral relations

 

[ahojunk]

First Nepalese currency printed by Chinese company successfully delivered
(People's Daily Online) 16:08, January 18, 2017

The first batch of Nepal's currency notes, printed by a Chinese company, ready for delivery. (Photo/CCTV News)

The first batch of Nepal's 1,000-rupee notes, printed by a Chinese company, was delivered from Nanchang, Jiangxi province on Jan. 16, marking a new achievement for China's banknote printing, CCTV News reported.

The notes were printed by China Banknote Printing and Minting Corporation (CBPM), a Chinese state-owned company under the direct leadership of the People's Bank of China. The 28.4 billion Nepalese rupees, packed in green boxes, were safely transported to Nepal from Nanchang.

CBPM earned the contract to print 200 million 1,000-rupee notes in August 2016. It took only five months for the company to deliver the first batch of notes.

The 1,000-rupee note, printed by a Chinese company. (Photo/CCTV News)

Li Zheng, general manager of Nanchang Banknote Printing Company, a branch of CBPM, pointed out that the whole printing process is localized, including materials and technology. The notes were printed in the same workshop as Chinese RMB are produced.

One thousand is the largest denomination of notes issued by Nepal's Central Bank. The printing of the notes requires precise anti-counterfeiting and design technology, while their successful delivery indicated China's high standards for banknote printing and minting.

 

[TaiShang]

Nepal keen to attract more Chinese investment
By Zhang Lulu
China.org.cn, January 20, 2017

An aerial view of Kathmandu, capital of Nepal, one week before a devastating earthquake hit the country in 2015. [File photo by Chen Boyuan/China.org.cn]

The Embassy of Nepal in China held a seminar on investment opportunities on Jan. 19, in a bid to attract more investment from China into Nepal.

Speaking to a group of Chinese governmental officials and business owners, Leela Mani Paudyal, the ambassador of Nepal to China, encouraged investment from China in trade, tourism, energy and other sectors. The ambassador said his country has yet to explore its abundant natural resources.

Nepal sits between China and India. "Nepal's prosperity is a prerequisite for stability in the trans-Himalayan region."the ambassador said.

According to Binod Prasad Acharya, the economic minister of the Nepali embassy in China,the country's trade with China reached 76 billion yuan (about US$11 billion) from 2015 to 2016. China is Nepal's second largest foreign direct investment (FDI) contributor after India. A total of 1,121 Chinese industries have been registered with Nepal as of late 2016, which are worth 6.16 billion yuan in project cost, with direct investment reaching 3.79 billion yuan, according to the minister.

Collaboration between China and Nepal used to focus on transport, health, manufacturing and energy industries. Future investments will be encouraged in the areas of hydropower, tourism, transport infrastructure, information technology, agriculture, health and education, the minister said.

He took the power sector as an example. The country will need to add 6,000 megawatts of power by 2030 to meet its growth aspirations, which requires investment worth US$6.45 billion in transmission and distribution.

One of the recent collaborations between China and Nepal is an initial joint venture agreement signed between the Nepal Electricity Authority and China Three Gorges Corporation to develop the West Seti hydropower project in west Nepal, which is expected to generate 750 megawatts of power when completed.

Power generation and transmission are open to foreign investors, the minister said.

He introduced a set of policies and acts that Nepal has adopted in recent years to attract foreign investment. For instance, under the Industrial Enterprise Act introduced in 2016, companies that engage in the energy industry will enjoy 100 percent income tax exemption for 10 years and a 50 percent exemption in an additional five years. Companies investing above 2 billion Nepalese rupee will have 100 percent exemption of their income tax for five years.

The country was ranked second in South Asia in the World Bank Ease of Doing Business in 2015, with its "untapped potential" and "young, energetic and trained labor force," he said. Industries there will not be nationalized, the minister added.

With its breathtaking scenery and rich Buddhist culture, Nepal boasts unique tourism resources which the embassy has long been keen to promote. Harishchandra Ghimire, the minister counselor of Nepali embassy in China, said that investment opportunities in the tourism sector include the construction of airports and roads, establishment of airlines, hotels, resorts and conference facilities, restaurants, recreation parks, and so on.

 

[TaiShang]

China-Nepal airline adds new aircraft in its fleet

Source: Xinhua | February 1, 2017, Wednesday |

HIMALAYA Airlines, a China-Nepal joint venture airline, has took delivery of its second brand new Airbus 320-214 into fleet.

The aircraft, made in Germany with the registration number 9N-ALV, flew from Hamburg to Kathmandu on Tuesday and was welcomed by a ceremonial water cannon salute at Tribhuvan International Airport (TIA) after it landed at 11:04am local time.

With the arrival of new aircraft, the company plans to add two destinations, Kuala Lumpur and Yangon, in its scheduled flights.

Currently, the Airlines conduct scheduled flights operations to Doha and Colombo from Kathmandu since last year with its one aircraft.

Vijay Shrestha, Himalaya Airlines vice president, said the new aircraft will enable the airline to connect Nepal directly with new destinations and contribute to the economic development of the Nepal.

The Himalaya is a joint venture company between China's Tibet Airlines and Nepalese private-sector companies. Besides state-owned Nepal Airline Corporation, Himalaya is the only other company currently conducting international flight in Nepal.

 

[TaiShang]

China-made airplanes arrive in Kathmandu
By Melsam Ojha

​

Airplane 9N-AKR, with 56 seats, is produced by Xi'an Aircraft Industrial Corporation under the Aviation Industry Corporation of China (AVIC). [Photo / China.org.cn]

The new China-made airplane (Y12E series) for state-owned Nepal Airlines Corporation arrived in Kathmandu on Wednesday, with another airplane of a different category having already arrived on January 26.

The E-series of Y12, developed by Harbin Aircraft Industry Group, landed at Tribhuvan International Airport (TIA) via Kunming, Burma and Calcutta. The Civil Aviation Authority of Nepal (CAAN) has designated 9N-AKT as its callsign. Two more 16-seater aircraft are also yet to arrive. The two small airplanes have received typical names of small birds such as "Koili" and "Gauthali."

Similarly, Xi'an MA-60 with 56 seats produced by Xi'an Aircraft Industrial Corporation under the Aviation Industry Corporation of China (AVIC) has a callsign of 9N-AKR.

In November 2014, the Government of Nepal signed a Memorandum of Understanding (MoU) to purchase six airplanes worth 4 million yuan as part of soft-loan and grant deal.

"MA-60 and Y-12E airplanes will serve on trunk routes (Biratnagar, Nepalgunj, Bhairahawa etc.) and remote areas (Jomsom, Lukla, Manang etc.), respectively," said deputy spokesperson of NAC Shailesh Kansakar.

At present, the corporation has a total of six airplanes for domestic flights and three jets for international flights.

Airplane 9N-AKR, with 56 seats, is produced by Xi'an Aircraft Industrial Corporation under the Aviation Industry Corporation of China (AVIC). [Photo / China.org.cn]

@Beast , @cirr , @AndrewJin , @long_ , @oprih

 

[ahojunk]

Two thirds of Nepal's total FDI comes from China in 1st half of FY
Editor: Zhangrui 丨Xinhua
02-06-2017 07:08 BJT

KATHMANDU, Feb. 5 (Xinhua) -- Nepal received more than two thirds of the total foreign direct investment (FDI) pledges from China during the first half of the current fiscal year that began in mid-July, according to data from Nepal's Department of Industries (DoI).

According to the DoI statistics, Nepal received investment pledge of 51.77 million U.S. dollars from China during the first half of the current fiscal year.

The figure represents about 68 percent of total FDI of 76.39 million U.S. dollars Nepal was pledged from various countries during the period.

In recent years, China has emerged as one of the largest FDI contributors to Nepal, as economic engagement between the world's second largest economy with the Himalayan country has been growing.

In the past fiscal year 2015-16, China was the largest source of FDI pledges with an investment commitment of 57.47 million U.S. dollars.

Pradeep Kumar Koirala, director general of DoI told Xinhua that Chinese investors are largely seen interested in tourism, infrastructure and restaurant businesses in Nepal.

For Satish More, a director of Hongshi-Shivam Cement Private Limited, a Nepal-China joint venture, the Chinese investment in Nepal has been rising in recent years because Nepal is an underdeveloped country and there are opportunities for investment in almost all areas.

"There is a scope for increased investment from China if we develop our infrastructure," he said.

During the first half of the current fiscal year, the total pledged FDI increased to 76.39 million U.S. dollars up from 59.93 million U.S. dollars during the same period last fiscal year when the country had gone through troubling blockade from India.

.

 

[TaiShang]

Two thirds of Nepal's total FDI comes from China in 1st half of FY
Editor: Zhangrui 丨Xinhua
02-06-2017 07:08 BJT

KATHMANDU, Feb. 5 (Xinhua) -- Nepal received more than two thirds of the total foreign direct investment (FDI) pledges from China during the first half of the current fiscal year that began in mid-July, according to data from Nepal's Department of Industries (DoI).

According to the DoI statistics, Nepal received investment pledge of 51.77 million U.S. dollars from China during the first half of the current fiscal year.

The figure represents about 68 percent of total FDI of 76.39 million U.S. dollars Nepal was pledged from various countries during the period.

In recent years, China has emerged as one of the largest FDI contributors to Nepal, as economic engagement between the world's second largest economy with the Himalayan country has been growing.

In the past fiscal year 2015-16, China was the largest source of FDI pledges with an investment commitment of 57.47 million U.S. dollars.

Pradeep Kumar Koirala, director general of DoI told Xinhua that Chinese investors are largely seen interested in tourism, infrastructure and restaurant businesses in Nepal.

For Satish More, a director of Hongshi-Shivam Cement Private Limited, a Nepal-China joint venture, the Chinese investment in Nepal has been rising in recent years because Nepal is an underdeveloped country and there are opportunities for investment in almost all areas.

"There is a scope for increased investment from China if we develop our infrastructure," he said.

During the first half of the current fiscal year, the total pledged FDI increased to 76.39 million U.S. dollars up from 59.93 million U.S. dollars during the same period last fiscal year when the country had gone through troubling blockade from India.

.

Good development. Step by step, Nepal's national security-compromising dependency on India is being eroded with well-calculated, pre-planned and carefully-implemented solid action.

Nepal naturally prefers a neighbor that would not interfere in its foreign affairs and would provide quality trade, infrastructure and development.

 

[Nilgiri]

Good development. Step by step, Nepal's national security-compromising dependency on India is being eroded with well-calculated, pre-planned and carefully-implemented solid action.

Nepal naturally prefers a neighbor that would not interfere in its foreign affairs and would provide quality trade, infrastructure and development.

LOL, you want to compare 50 million dollars to the amount Nepalis remit from India in just a week? Or just how many Nepalis are dependent on wages within India?

Please tag me when China has even 1,000 Nepalis working there so we can start to analyse what it means w.r.t the millions of Nepalis working in India.

Its good that China is increasing economic interaction with Nepal, but it is very nascent stage and you are far far away from undermining India's importance to Nepal's economy.

 

[TaiShang]

Two China-made planes formally handed over to Nepal's national flag carrier

(Xinhua) 08:25, February 09, 2017

The photo shows the China-made planes that have been formally handed over to Nepal's national flag carrier. [Photo: Xinhua]

Nepal Airlines Corporation (NAC), the national flag carrier of the Himalayan nation, on Wednesday formally received two brand new aircrafts from the Chinese supplier to add in its domestic fleet.

With addition of two new Chinese planes, one 56-seater MA60 and another Y-12e, the NAC has now majority of its planes made in China. Of the total seven planes in its domestic fleet, four are China-made while three are Canadian Twin Otters.

Chinese supplier -- AVIC International Holding, handed over planes to the NAC amid a function organised at the Tribhuvan International Airport in Kathmandu.

The two planes had landed in Kathmandu on Jan. 26 and Feb. 1.

NAC Managing Director Sugat Ratna Kansakar and Xu Bo, vice-president of AVIC International Aero-Development, signed the handover document at the presence of Nepalese Minister of Culture Tourism and Civil Aviation Jiwan Bahadur Shahi and Chinese Ambassador to Nepal Yu Hong.

Kansakar said, "NAC considers entry of Chinese aircraft as an impetus to expand domestic service." According to a senior NAC official, they expects to increase the NAC's domestic market share to 20 percent from current around six percent with the operation of Chinese planes.

As per an agreement signed between the NAC and AVIC International Holding, in 2012, Nepal would acquire six Chinese aircraft, two in grants and four in loans. Of the six planes, Nepal's national flag carrier has to take delivery of two MA60 and four Y12e as per the agreement.

During the handover ceremony, Nepalese Minister Shahi made an empathic appeal to the Chinese side to arrange the English speaking pilots. "The NAC plans to bring two additional Y-12e in the very new future," said Kansakar.

　　The NAC had taken delivery of two new planes after nearly two year-long hiatus of first acquiring first two planes -- one MA60 and Y-12e in 2014 which were given to NAC as a grant from China, because it had concerns regarding spare parts, training, load capacity and insurance cost with the supplier.

 

[TaiShang]

Nepal, China poised to boost defence diplomacy
By Ritu Raj Subedi
China.org.cn, February 10, 2017

Nepal and China are poised to open a new avenue of defence diplomacy, with the Nepal Army (NA) and the People's Liberation Army (PLA) conducting their first ever joint military drill this month.

They seek to exchange skills and knowledge on disaster management and counter-terrorism through the drill.

Officials from the NA and the PLA are to hold their final meeting this week to fix date, venue and the number of participating soldiers in the drill.

"We will soon make public the date of the NA-PLA combined exercise aimed at enhancing professionalism and defence diplomacy between Nepal and China," said NA spokesman and Brigadier General Tara Bahadur Karki.

The Chinese Ministry of National Defence spokesperson and senior Colonel Yang Yujun announced on Dec. 29 last year that a military exercise would be conducted with the NA in February.

Nepal has been conducting similar drills with India and the U.S. on a regular basis.

The first drill with the PLA is seen as a significant step to further cement the centuries-old relationship with Nepal's northern neighbor and contribute to the regional peace.

"The decision to hold the Nepal-China combined military drill is a very welcome move, which should have been organized 15 or 20 years ago," said Dr Prem Singh Basnyat, a retired brigadier general of NA.

Dr Basnyat said that combined drills opened the door for further military cooperation between the two nations. "They will exchange their skills and also learn each other's shortcomings. This will enhance our military prestige in the world community."

He noted that the countries such as the U.S. and the U.K. that lie in far-away locations came to participate in joint military exercises with the NA. "But China is our close and immediate neighbor, so it is natural for Nepal to carry out military exercise with it."

According to him, the NA's relation with the Chinese army is older than India's. It began with the Betrawoti Treaty, also known as the Nepal-Tibet Treaty, following the Sino-Nepal War in 1792, in which the Qing emperor pledged to help Nepal defend against any external aggression. However, the Qing Dynasty became weak in the 19th century and failed to respect this treaty when the British East India Company invaded Nepal in 1814.

The NA, created by Nepal's founding father Prithvi Narayan Shah, fought bravely against the British invaders and protected Nepal from going into the fold of the British East India Company. Amar Singh Thapa, Balbhadra Kunwar and Bhakti Thapa were the generals who effectively stopped the British soldiers.

Similarly, the PLA, founded by charismatic generals Zhu De, He Long, Ye Jianying and Zhou Enlai in 1927, during the Nanchang uprising when troops of the Kuomintang (KMT) rebelled after the massacre of the Communists by Chiang Kai-shek, drove out foreign aggressors and emerged victorious in the civil wars under its supreme commander Chairman Mao.

Against this backdrop, the decision to carry out the combined drill between the NA and PLA has drawn positive response in Nepal, but a section of Indian media and intellectuals showed some signs of jitters over it, prompting Indian State Minister for External Affairs V K Singh to allay their unfounded fears.

"The Nepal-China military drill will not affect Nepal-India relations. Relations between the Nepal Army and Indian Army stand on their own. Let's not see these relations through the lens of a third country," Singh told a press meet organized at his office about a month ago.

NA spokesman Karki made it clear that Nepal was free to propose and conduct any kind of military exercise with nations that it has bilateral relations with.

"The military drill, either with China or India or America, takes place as per our annual calendar. Thus, the Nepal-China military drill should not be viewed from another angle," Karki told The Rising Nepal, English daily published from Kathmandu.

Ritu Raj Subedi is an associate editor of The Rising Nepal.

Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.

 

[shadows888]

LOL, you want to compare 50 million dollars to the amount Nepalis remit from India in just a week? Or just how many Nepalis are dependent on wages within India?

Please tag me when China has even 1,000 Nepalis working there so we can start to analyse what it means w.r.t the millions of Nepalis working in India.

Its good that China is increasing economic interaction with Nepal, but it is very nascent stage and you are far far away from undermining India's importance to Nepal's economy.

Honestly, I don't think Nepal is ever going to be important for China. if anything happens, it will be due to natural market forces.

 

[ahojunk]

Nepal saves millions by printing banknotes in China
2017-02-14 14:08 | Xinhua | Editor: Gu Liping

Nepal Rastra Bank (NRB), the central bank of the Himalayan nation, has received to store 24 million 1000-rupee currency notes printed and delivered by the China Banknote Printing and Minting Corporation (CBPM).

Before their storage, Bhuban Kadel, executive director of the Nepalese central bank, who oversees the currency management department, had checked the notes. He was utterly impressed by the quality of the notes, particularly considering the cost was far lower than the bank had previously paid to another printer.

"The quality is as good as the ones that were printed earlier in another country but the cost is less than half of the amount we had earlier paid," Kadel told Xinhua.

Getting 200 million notes printed in China saved the Nepalese central bank 3.76 million U.S. dollars, according to Kadel.

Timely delivery of these notes was important for the central bank to provide grant aid to earthquake victims as promised by the Nepalese government.

After finding that the notes available were insufficient to meet the requirements for providing the grants to the quake victims, the central bank had ordered printing the 1,000 rupee notes without revising the specifics, which were earlier planned to be changed.

"The second and third consignments under the first batch have also arrived in Kolkata, India from where we will take delivery next week of one of the consignments," said Kadel.

The NRB will take delivery of all 1,000 rupee notes in three batches. Under the first lot, 84 million notes have been delivered.

The Chinese state-owned company had won the tender last August to print 1,000-rupee notes which is the largest denominated currency notes in Nepal.

The same Chinese company had earlier printed Nepal's 100-rupee notes as well,which were delivered in June 2016. It was the first time that any Chinese company was involved in printing Nepal's currency notes.

Nepal had earlier been getting its notes printed by Indonesian, French and Australian companies, among others.

According to the Nepalese central bank, the same Chinese company also signed the contract to print 260 million 5-rupee notes recently at a lower cost than the previously paid for.

"Thanks to China, we have saved million of rupees from printing in other countries," said Chintamani Siwakoti, deputy governor of the Nepalese central bank.

.