Baiterek Holding expands cooperation with China's major financial institutions

XI’AN. KAZINFORM As part of the state visit of President Kassym-Jomart Tokayev to China, Kazakhstan’s National Managing Holding JSC entered into cooperation agreements with China’s major financial institutions, Kazinform reports.

As Chairman of the Management Board of Baiterek Kanat Sharlapayev noted, the Holding signed agreements on cooperation with the China Development Bank (CDB), Industrial and Commercial Bank of China (ICBC) и China International Capital Corporation (CICC).

«The agreement with the largest financial institution China Development Bank, which we have been cooperating with for a long time, is a continuation of financing the projects in Kazakhstan,» Sharlapayev said.

Another document was signed with the Industrial-Commercial Bank of China, the leading financial institution both in China and in the world, according to the Chairman of the Holding.

Besides, Baiterek and China International Capital Corporation signed a memorandum of interaction. «We are planning to boost the cooperation with this financial institution,» noted Kanat Sharlapayev.

He emphasized the importance of the roundtable meeting held with the participation of major Kazakh and Chinese companies. «We see a growing interest from the Chinese side in boosting interaction with Kazakhstan and in investing in Kazakhstan economy,» he said.

Baiterek National Managing Holding is a key development institution and major financial agent of the Government which maintains Kazakhstan economy in key priority sectors. The Holding has the assets of $29 billion, and a $3.8 billion capital. The Holding and its eight portfolio companies focus on the following strategic areas: industrial and innovative development, promotion of national products export, development of small and medium enterprises, development of agro-industrial complex, housing construction sector as well as green projects implementation.