Kazakhstan, China’s Largest Bank Discuss New Investment Plans
Photo: Dall-E, illustrative purposes
On June 7, Prime Minister Olzhas Bektenov met with Liu Jun, Chair of the Industrial and Commercial Bank of China (ICBC), to discuss expanding financial cooperation, including long-term financing worth over one billion yuan (approx. 70 billion tenge), Orda.kz reports, citing the Cabinet of Ministers.
ICBC already operates in Kazakhstan through its Almaty-based subsidiary and participates in major national projects, including through the Baiterek holding. In spring 2025, the bank provided 430 million yuan (over 30 billion tenge) to finance the Agrarian Credit Corporation.
Negotiations focused on potential new areas of cooperation, including:
- A loan to Kazakhstan’s Industrial Development Fund
- Entry into the Chinese debt market through a bond issue of up to five billion yuan
- Joint projects in green and sustainable development
- Support for infrastructure, exports, and innovation
China remains one of Kazakhstan’s top five investors, with total accumulated investments reaching $26 billion. Bilateral trade hit a record $44 billion in 2024 and has grown 3.4% in early 2025.
Bektenov said the two countries aim to deepen strategic cooperation. ICBC expressed interest in expanding its role in Kazakhstan’s financial sector.
Original Author: Alina Pak
Latest news
- Kremlin Spokesperson Says Ukraine’s Non-NATO Status Is Central to Peace Talks
- Kcell Receives Certification for Information Security
- Uzbekistan Aims to Halt Gas Production Decline by 2026 With New Fields
- Kyrgyzstan: Culture Ministry Denies Reports of Ban on Valery Meladze Concert
- Kazakh Ophthalmologist Wins International Honors at Hong Kong ICT Awards 2025
- Kazakhstan: Construction Industry Urges for Return to Previous Time Zone
- KTZ Spends 79 Million Tenge on New Workwear After Complaints From Mangystau Employees
- Armenian Defense Minister Says Situation Calm Along Border With Azerbaijan
- Zelenskyy Signals Ukraine Could Forego NATO Membership in Exchange for Security Guarantees
- Kazakhstan Says Damage From Drone Attack on CPC Facility Still Being Assessed
- Kazakhstan May Build Planned Thermal Power Plants Independently Amid Delays in Russian Financing
- Expert Warns Sale of Transtelecom Stake Overlooks Kazakhstan’s National Security Risks
- Kazakhstan Says Alternative Oil Export Routes Are Available Amid CPC Infrastructure Issues
- Former Foreign Ministry Spokesman Aibek Smadiyarov Appointed Head of Domestic Policy Department
- Kadyrov Says He Is Ready to Run Again as Chechnya’s Head in 2026
- Kazakhstan: Interior Ministry Reports Dozens of Human Trafficking Cases
- Feminita Says Police Did Not Consider Complaint Over Controversial Statement by OSDP Official
- How a North Kazakhstan Official Turned Public Service into a Cash Machine — and Ended Up in Prison
- The Case Is Closed: Shymkent Akim Comments on Berdenov Attack
- Khromtau Akim’s Bribery Case Goes to Court
