In Beijing, a Package of Documents of the Baiterek Holding Group was Signed Within the Framework of the Kazakhstan–China Business Council Meeting

As part of the official visit of the Head of State Kassym-Jomart Tokayev to the People’s Republic of China (August 30 – September 3, 2025), a ceremony for signing commercial documents was held at the venue of the eighth meeting of the Kazakhstan–China Business Council with the participation of the delegation of JSC ‘Baiterek’ National Managing Holding. The signed agreements complemented the outcomes of the bilateral meetings held earlier and formalized arrangements with China’s key financial institutions.

Acting Chairman of the Management Board of Baiterek National Managing Holding, Yersain Khamitov, spoke at the plenary session of the Council, highlighting the Holding’s systematic cooperation with leading financial institutions of the PRC.

In his remarks, he presented examples of already implemented instruments and projects of the Baiterek Group in the Chinese market. For the first time in Central Asia and the Caucasus, the Development Bank of Kazakhstan placed Dim Sum yuan-denominated Eurobonds worth USD 300 million with a three-year maturity, confirming strong demand from Chinese investors. In addition, work is underway with ICBC Asia to issue yuan-denominated bonds of up to CNY 5 billion in 2026, which will diversify the Holding’s funding sources. Projects with Chinese partners involving Qazaqstan Investment Corporation were also noted, including the construction of a 160 MW combined-cycle power plant in the Mangystau region with China Huadian Corporation, as well as initiatives to develop export and logistics chains in China.

The key document was the signing of a loan agreement between Baiterek National Managing Holding and ICBC Almaty for CNY 500 million, within the framework of a general agreement for CNY 1 billion. The funds will be directed to finance investment projects of the Group. The agreement was signed by Acting Chairman of the Management Board of Baiterek Holding Yersain Khamitov and Chairman of the Management Board of ICBC Almaty Lü Honghai.

In addition, Development Bank of Kazakhstan JSC (DBK), a subsidiary of the Baiterek Group, and the Export-Import Bank of China signed a framework agreement on credit lines of up to USD 1 billion or its equivalent in yuan. The parties agreed that the funds could be allocated for general corporate purposes and financing DBK investment projects. The document was signed by Chairman of the Management Board of DBK Marat Yelibayev and Vice President of the Export-Import Bank of China Yang Dongning.

Baiterek National Managing Holding and ICBC Asia also signed a memorandum of cooperation. The document provides for joint work on issuing yuan-denominated bonds, as well as attracting a loan of CNY 500 million, thereby expanding the pool of market-based funding instruments in the PRC’s national currency.

In addition, a memorandum of understanding was signed on an investment project for the construction of a gas-chemical complex for methanol production. On the Kazakhstani side, the document was signed by Baiterek Venture Fund JSC, a subsidiary of the Baiterek Group, and Zhaik Petroleum Ltd LLP; on the Chinese side – San Bao STPC LLP. The memorandum outlines the agreed parameters for feedstock supply and the subsequent regulatory framework for the project.

Yersain Khamitov emphasized that the agreements reached strengthen cooperation with Chinese partners and expand access to long-term resources.

“I am convinced that our partnership with ICBC has great potential and can be elevated to a new level both in the field of direct lending and through market instruments. The signed documents create a solid foundation for further expansion of joint projects and strengthening of investment cooperation,” he noted.

Thus, the package of agreements reinforces the financial base of the Baiterek Group and supports the implementation of priority projects in industry and infrastructure. It should be noted that following the Kazakhstan–China Business Council meeting, more than 70 commercial documents totaling over USD 15 billion were signed.