Kazakhstan and China Strengthen Financial Cooperation at the 12th Kazakhstan–China Cooperation Committee Meeting, DKnews.kz reports.
Kazakhstan’s Vice Minister of Finance, Dauren Kengbeil, held a series of high-level bilateral meetings with key representatives of the People's Bank of China, the Export-Import Bank of China (Exim Bank), and the Asian Infrastructure Investment Bank (AIIB) as part of the 12th meeting of the Kazakhstan–China Cooperation Committee. These meetings marked a significant step toward expanding financial and investment partnerships between the two countries.
Issuance of Panda Bonds in the Chinese Market
In discussions with Mr. Lu Lei, Deputy Chairman of the People's Bank of China, the sides exchanged views on the current global financial environment and the future of bilateral financial cooperation. One of the key outcomes was an agreement to collaborate on the issuance of panda bonds — bonds denominated in Chinese yuan — on China’s domestic financial market. This initiative is expected to open up new financing channels for Kazakhstan, strengthen its presence in Asian capital markets, and enhance economic resilience.
Major Investment Projects in Kazakhstan
During the meeting with Mr. Wang Kang, Vice President of the Export-Import Bank of China, both parties discussed the financing and practical implementation of key infrastructure and development projects in Kazakhstan. Among the highlighted initiatives are:
- Construction of a water pipeline from the K.I. Satpayev Canal to Astana, including the development of Pumping and Filtration Station №4.
- Expansion of the metro system in Almaty, improving urban transport and boosting regional connectivity.
- Modernization of customs infrastructure at border checkpoints to facilitate trade flows and enhance cross-border logistics.
These projects aim to significantly improve Kazakhstan's infrastructure, promote sustainable urban development, and enhance regional trade.
Strategic Partnership with AIIB
The meeting with Mr. Konstantin Limitovskiy, Chief Investment Officer of the Asian Infrastructure Investment Bank (AIIB), focused on expanding economic collaboration. Key topics included the upcoming signing of a Framework Partnership Agreement and the development of a new budget support program. These initiatives are designed to enhance Kazakhstan’s financial stability and support the country’s long-term development strategy.
Strengthening Ties for Mutually Beneficial Growth
Following the series of bilateral meetings, both sides expressed strong confidence in the successful realization of joint projects, emphasizing their shared commitment to deepening partnerships and achieving mutually beneficial economic goals.
Kazakhstan’s active financial dialogue with China and leading international financial institutions highlights its strategic focus on attracting investment, enhancing infrastructure, and integrating into global financial markets. The agreements and plans laid out during these meetings are expected to contribute significantly to Kazakhstan’s economic growth and regional influence in the years ahead.
