CICC International and “Baiterek” National Managing Holding JSC Sign Memorandum of Understanding
China International Capital Corporation (International) Limited (CICC International) and Kazakhstan’s “Baiterek” National Managing Holding JSC (Baiterek) signed a Memorandum of Understanding (MoU) during the Kazakhstan-China Investment Roundtable in Xi’an, Shaanxi Province, on 18th May 2023.
The Kazakhstan-China Investment Roundtable organized by the Government of Kazakhstan and is part of the delegation’s visit to the China-Central Asia Summit. Chinese President Xi Jinping hosted the summit on 18th May to 19th May in Xi’an, Shaanxi Province. At China’s invitation, Presidents from the 5 Central Asian countries of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan attended the Summit.
The signing of the MoU with Baiterek marks a milestone for the presence of China International Capital Corporation Limited (CICC) in Central Asia. In signing the MoU, CICC and Baiterek agree to strengthen cooperation, especially in the financial services sector, jointly organize economic events and forums, jointly establish investment funds to facilitate bilateral investment and financing opportunities between the two countries and collaborate on investment in agriculture projects in Kazakhstan and China. The MoU will pave the way for the cooperation and create a blueprint for this new partnership.
This event demonstrates CICC’s continued effort and commitment towards Kazakhstan and Central Asia as part of its internationalization strategy. CICC has invested significant resources to contribute towards the success of the “One Belt, One Road” initiative. According to a joint statement issued on 17th May 2023, during Kazakh President Kassym-Jomart Tokayev’s state visit to China, China and Kazakhstan agreed to fully support Chinese financial institutions that provide financial services, asset management, and other services to conduct business in Astana International Financial Center. CICC will continue to expand its presence and deepen its network in Kazakhstan and Central Asia with local partners and companies.
On 17th May 2023, Astana International Financial Centre Governor Renat Bekturov and Baiterek Chairman Kanat Sharlapaev came to Xi’an as part of the Kazakhstan delegation’s agenda during the China-Central Asia Summit and also visited CICC’s Xi’an office. CICC COO Dr. Chu Gang, and his team welcomed the delegation and discussed various topics, including CICC's ongoing commitment to Kazakhstan’s capital market, information exchanges and conference co-sponsorship, as well as future opportunities for collaboration.
AIFC Governor Renat Bekturov and team visited CICC. Dr Chu Gang, COO of CICC, along with Barry Chan, Head of Investment Banking, Hong Kong, CICC and Head of Asia Australia region, CICCI, and William Xia, Head of Kazakhstan Preparatory team, CICCI welcomed the delegates.
Baiterek Chairman Kanat Sharpalaev visited CICC. Dr Chu Gang, COO of CICC, alone with Barry Chan, Head of Investment Banking, Hong Kong, CICC and Head of Asia Australia region, CICCI, and William Xia, Head of Kazakhstan Preparatory team, CICCI welcomed the delegates.