Baiterek Discusses Investment Cooperation with Hong Kong and China Business Delegation

On 2 June 2026, as part of the visit of Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China, to the Republic of Kazakhstan, JSC National Investment Holding Baiterek held a meeting with a business delegation from Hong Kong and Mainland China. The talks focused on investment cooperation, joint project development and expanding collaboration in the financing of priority economic sectors.

The delegation, organised by the Hong Kong Trade Development Council (HKTDC), brought together more than 70 senior executives from leading Hong Kong companies and representatives of enterprises from 17 provinces and municipalities across Mainland China, spanning financial services, logistics, innovation and technology, green energy, mining, biopharmaceuticals and the media.

Baiterek Holding was represented by Chairman of the Management Board Rustam Karagoyshin, Deputy Chairmen of the Management Board Timur Onzhanov and Zhandos Shaikhy, as well as the heads of subsidiary organisations: the Development Bank of Kazakhstan, Qazaqstan Investment Corporation, Damu Fund, the Export Credit Agency of Kazakhstan, and the Agrarian Credit Corporation.

Opening the meeting, Rustam Karagoyshin presented the Holding and its renewed role in the country's economy. As of 2025, Baiterek's total assets stand at approximately USD 40 billion. In 2025, the Holding channelled more than USD 21 billion into the economy, financed over 100 major projects, and provided support to thousands of small and medium-sized businesses and agricultural producers.

This year, the Holding was granted the status of a national investment holding, strengthening its capacity to attract foreign investment, structure large-scale projects and develop international investment partnerships.

The key topics of the talks included prospects for joint investment in priority economic sectors and expanding capital market cooperation.

One promising area of collaboration is international participation in agro-industrial projects. Through Qazaqstan Investment Corporation, the Holding is developing ADAL Fund L.P. with a target size of up to USD 1 billion, focused on expanding the agricultural sector's export potential, developing deeper processing and consolidating domestic producers.

Considerable attention was given to capital market development and debt financing, including the potential listing of Otbasy Bank — Kazakhstan's largest specialised housing savings bank, holding a 52% share of the home purchase loan market and more than 6.1 million housing savings contracts.

The foundation for further cooperation has already been established through joint projects. These include the placement by the Development Bank of Kazakhstan of Dim Sum bonds totalling CNY 2 billion on the Hong Kong Stock Exchange and the Kazakhstan Stock Exchange. The order book reached CNY 4.9 billion, more than 2.5 times oversubscribed, with 62% of investors from Asia.

The Holding is also implementing a joint project with China Huadian for the construction of a 160 MW combined-cycle gas turbine power plant in Aktau, valued at approximately USD 190 million, with the participation of Qazaqstan Investment Corporation.

Following the talks, JSC National Investment Holding Baiterek signed Memoranda of Understanding with Bank of China (Hong Kong) Limited and Invest Hong Kong. The Development Bank of Kazakhstan signed a Memorandum of Understanding with Standard Chartered Hong Kong. The signing ceremony took place in the presence of Chief Executive John Lee.

A number of leading Hong Kong and Mainland Chinese companies expressed strong interest in developing practical cooperation with Baiterek Holding, including Airport Authority Hong Kong, China Mengniu Dairy Company Limited, Standard Chartered Bank (Hong Kong) Limited, and Shandong Energy Group Co., Ltd. The parties agreed to continue exploring promising projects in logistics and infrastructure, the agro-industrial sector, financial services and energy.

The visit of Chief Executive John Lee to Kazakhstan takes place from 31 May to 3 June 2026, marking the first-ever visit by a Chief Executive of Hong Kong to Kazakhstan.

The event reflects growing business activity between Kazakhstan and Hong Kong. In 2025, Kazakhstan became Hong Kong's largest trade partner and leading export market in Central Asia, while Hong Kong continues to strengthen its position as one of the key investors in the Kazakh economy. From February 2025 to February 2026, the number of Hong Kong companies and branches registered in Kazakhstan increased by 61%, from 158 to 254.

Hong Kong provides Kazakh companies with access to international capital markets, financial and professional services, and global trade networks. For Kazakh businesses, Hong Kong can serve as an effective gateway to the Greater Bay Area, Southeast Asian markets and other international destinations.

Bilateral trade between Kazakhstan and Hong Kong in 2025 totalled USD 178.8 million, an increase of 38.1% year-on-year. The cumulative volume of Hong Kong investment in Kazakhstan since 2005 has exceeded USD 3.9 billion.

Both sides expressed strong interest in further developing their partnership and advancing joint initiatives aimed at strengthening investment and trade ties between Kazakhstan, Hong Kong and Mainland China.