- Kazakhstan and China signed 70+ agreements worth over $15 billion.
- Alatau City to be developed as a new hub for innovation and trade.
- Major projects planned in energy, metals, automobiles, and Belt & Road transit.
Kazakhstan and China recently finalized over 70 agreements and contracts valued at more than $15 billion during the 8th session of the Kazakhstan–China Business Council conducted in Beijing. The gathering united President Kassym-Jomart Tokayev and China's First Vice Premier Ding Xuexiang.
In the meeting, President Tokayev discussed Kazakhstan's increasing investment opportunities. He called China a trustworthy neighbor, a dear friend, and a long-term strategic ally. He observed that China has invested $27 billion in Kazakhstan's economy already. More than 6,000 Chinese firms are active in different industries in Kazakhstan, featuring major players such as CNPC, CITIC, SINOPEC, and Huawei. Collaboration between the two countries encompasses transportation, energy, industry, agriculture, and innovation.
A key emphasis was the bold new initiative of constructing Alatau City, a forthcoming center for innovation, the cryptocurrency sector, and tech entrepreneurship. Tokayev voiced robust backing for the contract signed with China State Construction Engineering Corporation and emphasized the necessity of commencing construction promptly. Alatau City will span 88,000 hectares, exceeding Almaty's size, and will incorporate 12 previous villages along with a section of Konaev city. The goal is to transform Alatau into a trade and logistics hub focused on exports.
A polyethylene facility is under construction in the Atyrau region in collaboration with Sinopec in the industrial sector. This plant will possess a capacity of 1.25 million tonnes annually, supported by $7.4 billion in funding. Plans are underway to upgrade the Shymkent oil refinery with assistance from CNPC, in addition to renewable energy initiatives in partnership with China Power International Holding and China Energy. In the Mangystau region, a 160 MW gas-steam power plant project in collaboration with China Huadian Corporation will commence shortly. Collaboration on nuclear energy with CNNC is also being considered.
The metals sector is poised for growth as well. In the Zhambyl region, a steel plant capable of producing 3 million tonnes annually will be constructed by Fujian Hengwang Investment. Simultaneously, Jiaxin International plans to establish a tungsten ore processing facility in the Almaty region.
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In Almaty, there are efforts in progress for a new multi-brand automobile plant that will have the capacity to manufacture 120,000 vehicles each year, featuring brands like GWM, Chery, and Changan, as well as a facility for electric buses from BYD. China Glass is advancing with a project for a new glass manufacturing plant.
Kazakhstan continues to be an essential ally for China’s Belt and Road Initiative. Currently, around 85 percent of cargo transit between China and Europe goes through Kazakhstan. This year, an additional railway track was constructed on the Dostyk–Moyynty section, enhancing the corridor's capacity five times.
The executed agreements showcase Kazakhstan’s practical strategy for enhancing economic collaboration with China, focused on drawing investment and upgrading infrastructure, while utilizing the nation's advantageous geographic location.