Insights | Former Nepal PM: China to prosper from high-quality development driven by tech innovation

By Lin Zhuowei

(ECNS)— "China is focusing on quality development, not speedy development," commented Jhala Nath Khanal, Nepal's former Prime Minister and a senior leader of the CPN (Unified Socialist), in an exclusive interview with China News Network recently, as China's 2024 Two Sessions wrapped up.

Technological innovations drive China's high-quality development

Catchphrases, including "high-quality development", "new productive forces", and "the Chinese path to modernization”, made headlines during this year's Two Sessions, attracting international attention.

In Khanal's opinion, high-quality development refers to a developmental model that is balanced, green, open, and shared, which demonstrates China's development pursuit of quality rather than speed.

"The infrastructure for future development has been consolidated," noted Khanal, "That's why I hope that in the future the Chinese economy will flourish."

Furthermore, Khanal considers technology as a sector with great potential for driving China's sustained growth, citing recent breakthroughs in artificial intelligence, lithium batteries, solar panels, and other emerging technologies.

"China is connecting all these new technologies with the process of socialist construction. That's why China's economy is developing very well," said Khanal.

And new quality productive forces also reflect China's endeavor to advance productivity in all sectors through technological innovation and disruption, he added.

"At the same time, China is going to have a modernization process. It is based on China's reality. (It is) a modernization with Chinese characteristics," Khanal believes that the focal point here is "people's livelihood, people's prosperity, and people's happiness".

Commenting on China's GDP growth target of around 5% in 2024 which was put forward in the government work report, Khanal even expects China's greater economic performance and more contribution to the world economy, given the steady performance and solid foundation of China's economy over the years.

The Five Principles of Peaceful Co-Existence never fade

Khanal noticed one important message delivered at the Foreign Minister's Press Conference held on March 7 in Beijing, which is the reiteration of the Five Principles of Peaceful Co-Existence.

70 years have passed since it was introduced in 1953. Khanal celebrated the time-tested proposal as a basic norm governing international relations.

With the rise of new poles such as China, Russia, India, and Brazil, the world today is increasingly multi-polarized, said Khanal, and the emphasis on peaceful co-existence between nations cannot come timelier and more relevant in this context.

Nepal-China cooperation steps up to the next level

Connectivity, hydropower, agriculture, and energy are among the areas that Khanal believes have the greatest potential for deepening cooperation between Nepal and China.

Khanal told China News Network that with alterations to Nepal's government, the current administration is more likely to proactively advance bilateral cooperation between the two countries, particularly under the framework of the Belt and Road Initiative.

In this regard, the Trans-Himalayan Multi-Dimensional Connectivity Network, which includes a railroad designed to run through the Himalayas, could serve as a stark example. Once implemented, it "will have a very big impact on Central and South Asia".

In the end, Khanal hopes for closer cooperation to usher in a brighter future for both.