ASTANA – President Kassym-Jomart Tokayev met with John KC Lee, Chief Executive of the Hong Kong Special Administrative Region of the People’s Republic of China, marking the first-ever visit by a Hong Kong Chief Executive to Kazakhstan, reported Akorda on June 1.
John KC Lee, Chief Executive of the Hong Kong Special Administrative Region of the People’s Republic of China and President Kassym-Jomart Tokayev met on June 1 in Astana. Photo credit: Akorda
Welcoming the guest, Tokayev noted that the visit would provide fresh momentum for cooperation between Kazakhstan and Hong Kong, as well as for broader Kazakhstan-China relations.
“This event will undoubtedly provide an additional impetus to the development of cooperation between Kazakhstan and Hong Kong, and, more broadly, between Kazakhstan and China, with which we maintain an enduring comprehensive strategic partnership. Our countries enjoy a high level of political dialogue and are actively expanding trade, economic and investment cooperation. The same can be said of our relations with Hong Kong,” Tokayev said.
Tokayev highlighted Hong Kong’s role as one of the world’s leading financial and business centers, noting its strong potential in investment, innovation, technology, and international trade. He expressed confidence that the visit would create new opportunities for cooperation in investment, finance, digitalization, artificial intelligence, transport, and logistics.
Lee thanked the president for the warm welcome and reaffirmed Hong Kong’s commitment to deepening cooperation with Kazakhstan.
“I attach great importance to this visit. It is the largest delegation that has accompanied me on an overseas trip,” Lee said, noting that the delegation includes 75 government officials and business representatives from sectors such as logistics, green energy, mining, innovation, technology, and education.
Lee noted that China’s Belt and Road Initiative, proposed by Chinese President Xi Jinping, was first announced in Kazakhstan, underscoring the strong ties between the two countries. He said Hong Kong is a key participant in the initiative and continues to benefit from growing regional connectivity.
The two sides also discussed a range of practical issues on the bilateral agenda and reaffirmed their interest in expanding trade and economic cooperation.
Investment, finance and direct flights on agenda
The same day, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin held talks with Lee and members of the Hong Kong delegation to discuss expanding trade, investment and financial cooperation.
Zhumangarin highlighted Kazakhstan’s strong economic performance and improved sovereign credit ratings, emphasizing the country’s interest in attracting investment into high-value-added projects.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin held talks with John KC Lee on June 1. Photo credit: primeminister.kz
He proposed cooperation in agriculture, food processing, petrochemicals, coal chemistry, mineral fertilizers and the production of finished goods from non-ferrous metals. The potential value of projects under consideration exceeds $100 billion.
The two sides also discussed financial cooperation, including the possibility of raising capital through Chinese and Hong Kong financial markets, establishing joint investment funds and expanding the role of Kazakhstan’s national holding company Baiterek as a financial partner and co-investor.
“We are honored to discuss prospects for expanding cooperation with Hong Kong. Kazakhstan can offer investors not only attractive projects, but also access to the broader Central Asian market,” Zhumangarin said.
He also proposed developing a joint roadmap for trade and economic cooperation, creating a Kazakhstan-Hong Kong investment fund and exploring cooperation in a Kazakhstan-Hong Kong-Xinjiang format.
Lee praised Kazakhstan’s economic development and its role as a key transit hub linking Asia and Europe, noting that around 85% of overland freight traffic between the two regions passes through Kazakhstan.
He also outlined Hong Kong’s ongoing economic transformation aimed at strengthening innovation and technology while maintaining its position as a leading global financial center. Plans include expanding innovation infrastructure, increasing the number of science and technology parks and attracting international talent to high-tech industries.
“We see significant potential to expand cooperation between Hong Kong and Kazakhstan. Our economies complement each other in finance, innovation, technology, logistics and investment. Restoring direct air links between Hong Kong and Kazakhstan could become an important step in strengthening these ties,” Lee said.
