Chinese President Xi Jinping and Nepali Prime Minister KP Sharma Oli discussed about various, including cross-border rail connectivity on Wednesday and said that Beijing is ready to cooperate with Kathmandu under the framework of the Belt and Road Initiative (BRI).
Oli had arrived in China on Tuesday on a six-day-visit and met Xi at the Great Hall of the People in Beijing.
Xi and Oli discussed ways and means to further expanding bilateral cooperation in various fields including through cross border railway connectivity. Xi told Oli that China "stands ready to strengthen cooperation with Nepal in infrastructure connectivity, post-disaster reconstruction, trade and investment under the framework of the BRI".
"China appreciates Nepal's resolute adherence to the one-China policy and will support its efforts to safeguard national independence, sovereignty and territorial integrity," Xi said.
"Beijing supports Nepal's self-selection of social systems and development of roads suited to its national conditions. We must strengthen cooperation in law enforcement capacity building, jointly combat transnational crimes and safeguard the common security of China and Nepal," said the Chinese President.
While Oli on his part said that Nepal admired China's development achievements, highly valued its positive role in international affairs and thanked China for its support for the country's development transformation.
A pact for co-operation between Nepal Electricity Authority and State Grid Corp of China for a feasibility study of Nepal-China Cross-border Power Grid Interconnection Project was also signed.
According to it, the two sides will carry out the feasibility study of 400 kV Kerung-Rasuwagadhi-Galchhi-Ratmate transmission line.
The Nepali Prime Minister also inaugurated the 2018 Nepal-China Business Forum' jointly organized by the Embassy of Nepal and China Council for the Promotion of International Trade.
While inaugurating the forum Oli said Nepal had embarked on a path of peace and political stability following the elections under federal set-up last year and expressed his confidence that Chinese entrepreneurs would invest in his country.
Earlier in the day, Oli laid a wreath at the Monument to the People's Heroes at the Tian'anmen Square. He will hold delegation level talks with his Chinese counterpart Li Keqiang on Thursday where additional MoUs are expected to be signed.
This is Oli's first official visit to China after returning to power in February and the second foreign trip after India.
Before their meeting, China and Nepal signed eight agreements worth $2.4 billion. The agreements were signed in a ceremony at the Nepal Embassy in Oli's presence. The agreements were between the two governments and private sectors where Chinese investors will put money on developing hydroelectricity, water resources, cement factories and fruit cultivation and farming.
(with IANS inputs)