A series of meetings between Baiterek Holding and China’s largest financial institutions took place in Beijing

The delegation of Baiterek National Managing Holding, headed by Acting Chairman of the Management Board Yersain Khamitov, held bilateral negotiations with the leadership of China Development Bank (CDB), Bank of China, China Investment Corporation (CIC), and Industrial and Commercial Bank of China (ICBC). The negotiations were also attended by Deputy Chairman of the Management Board of the Holding Timur Onzhanov, as well as executives of its subsidiaries (Development Bank of Kazakhstan JSC) and affiliates (Baiterek Venture Fund JSC). The meetings were held as part of the official visit of the Head of State Kassym-Jomart Tokayev to the People’s Republic of China from August 30 to September 3 this year.

The parties confirmed the priority of sustainable financing for projects in industry, infrastructure, energy, and the agro-industrial complex. For the Kazakh side, key areas remain production localization, technology transfer, workforce training, ESG compliance, and fair risk distribution.

The negotiations addressed long-term market resources in yuan and US dollars, joint investments, settlements in national currencies, as well as preparations for bond placements in China.

With CDB, the parties discussed prospects for cooperation and the opening of a credit limit for long-term and project financing. Particular attention was given to a credit line in the amount of 5 billion yuan, with the potential to increase up to 10 billion, including alternatives regarding rates, terms, currencies, and intended use of resources.

With Bank of China, the parties worked through capital market and settlement instruments for infrastructure and industrial projects. Cooperation with the Holding’s subsidiaries was noted as a way to accelerate transaction preparation.

With CIC, the discussions focused on joint investments, technology localization, and the launch of pilot projects in Kazakhstan. Additionally, the issue of establishing a joint “CIC – Central Asia” fund with the participation of institutional investors, including the Qazaqstan Investment Corporation platform, was raised.

Furthermore, the Holding’s delegation took part in the 8th meeting of the Kazakhstan-China Business Council (KCBC). The KCBC agenda included two new steps: a planned agreement on a new 500 million yuan loan and a memorandum with ICBC Asia, including the preparation for a yuan-denominated bond issuance. The possibility of issuing Panda or Dim Sum bonds in the amount of up to 5 billion yuan in 2026 is under consideration.

“Our task is simple and practical: we are building stable channels of market funding and joint investments that enhance the productivity of Kazakhstan’s economy. We have systemic cooperation with Chinese institutions; in 2025 we have already expanded yuan funding and are preparing new transactions. Our priorities remain unchanged: localization, technology, workforce training, ESG standards,” emphasized Yersain Khamitov at the meeting with ICBC.

It was noted that as of the second quarter of 2025, the Holding’s assets amounted to about USD 29.5 billion, while its investment and loan portfolio exceeded USD 21.5 billion, and net profit stood at USD 336.4 million. In 2025, USD 14.9 billion is planned to be directed to the real sector. These indicators were presented to Chinese partners as a foundation for expanding joint projects.