Baiterek Holding inks package of agreements with China's major banks
As part of the official visit of the Head of State Kassym-Jomart Tokayev to China, a delegation of Baiterek National Managing Holding held a series of talks with the key financial institutions of China and signed a number commercial documents during the 8th meeting of the Kazakhstan-China Business Council, Kazinform News Agency reports.
Led by Acting Chairman of the Management Board Yersain Khamitov, the delegation, held meetings with the top officials of China Development Bank (CDB), Bank of China, China Investment Corporation (CIC), and Industrial and Commercial Bank of China (ICBC).
The negotiations were also attended by Deputy Chairman of the Management Board of the Holding Timur Onzhanov, as well as executives of its subsidiaries (Development Bank of Kazakhstan JSC) and affiliates (Baiterek Venture Fund JSC).
The parties confirmed the priority of sustainable financing for projects in industry, infrastructure, energy, and agro-industrial complex. Production localization, technology transfer, workforce training, ESG compliance, and fair risk distribution remain key areas for the Kazakh side.
With CDB, the sides discussed prospects for cooperation and the opening of a credit limit for long-term and project financing. Particular attention was given to a 5 billion yuan credit line, with the potential to increase up to 10 billion, including alternatives regarding rates, terms, currencies, and intended use of resources.
With Bank of China, the parties discussed capital market and settlement instruments for infrastructure and industrial projects. Cooperation with the Holding’s subsidiaries was noted as a way to accelerate transaction preparation.
With CIC, the discussions focused on joint investments, technology localization, and the launch of pilot projects in Kazakhstan. Additionally, the issue of establishing a joint “CIC – Central Asia” fund with the participation of institutional investors, including the Qazaqstan Investment Corporation platform, was raised.
Furthermore, the Holding’s delegation took part in the 8th meeting of the Kazakhstan-China Business Council (KCBC).
The KCBC agenda included two new steps: a planned agreement on a new 500 million yuan loan and a memorandum with ICBC Asia, including the preparation for a yuan-denominated bond issuance. The possibility of issuing Panda or Dim Sum bonds in the amount of up to 5 billion yuan in 2026 is under consideration.
“Our task is simple and practical: we are building stable channels of market funding and joint investments that enhance the productivity of Kazakhstan’s economy. We have systemic cooperation with Chinese institutions; in 2025 we have already expanded yuan funding and are preparing new transactions. Our priorities remain unchanged: localization, technology, workforce training, ESG standards,” emphasized Yersain Khamitov at the meeting with ICBC.
As it was reported, more than 70 commercial agreements worth over 15 billion US dollars were signed following the 8th meeting of the Kazakhstan–China Business Council in Beijing.