Nepal needs to learn from China's economic transformation:

Nepal's Vice President Paramananda Jha said Wednesday that Nepal needs to draw positive lessons from China, its northern neighbor and the world's second largest economy.

The vice president made the remarks at a special ceremony organized to mark the Chinese New Year by Nepal China Culture and Education Council here on Wednesday evening.

"Nepal has a lot to learn from the economic reform that occurred in China in last 30 years," Jha said.

Jha also expressed appreciation for the role of its oldest neighbor in supporting the overall development of this Himalayan nation.

Addressing the program, Chinese Ambassador to Nepal Wu Chuntai said that China will always play a constructive and positive role in Nepal's socio-economic development.

"China respects Nepal's sovereignty and will always maintain utmost flexibility in cooperation," Wu said.

Ambassador Wu added, "Nepal and China are friends in need and friends indeed."