China is Kazakhstan’s key trade and economic partner – PM Bektenov
Prime Minister Olzhas Bektenov has met today with the Vice Chairman of Industrial and Commercial Bank of China, Liu Jun, Kazinform News Agency reports citing primeminister.kz.
The sides discussed the issues of expanding investment cooperation and attracting long-term financing.
In 2024, trade turnover between Kazakhstan and China hit a record $44 billion. In January-April 2025, it grew by another 3.4%. China is among the Top 5 investors in Kazakhstan with investments totaling $26 billion.
The Kazakh Prime Minister noted that China is a key trade, economic and investment partner of Kazakhstan.
“The government is actively working to strengthen cooperation with the international financial institutions. Kazakhstan and China have a long history of friendship and cooperation based on personal friendly contacts between the two countries' leaders. We are keen on developing a long-term strategic partnership with the ICBC. The implementation of new joint initiatives will help strengthen financial and economic ties between our countries and open new horizons for joint development,” Bektenov said.
ICBC works in Kazakhstan through its subsidiary bank – Industrial & Commercial Bank of China (Almaty) JSC.
The parties noted participation of the bank in the support of key sectors of economy, including through the projects with Baiterek Holding. In March 2025, the Holding attracted RMB430 million to finance the JSC “Agrarian Credit Corporation”, which helped ensure stable financing of the sector.
Liu Jun stated that the ICBC intends to expand cooperation and support innovations. According to him, Kazakhstan and China have good potential to strengthen partnership, including interaction between business entities.
At the end of the meeting, the sides confirmed readiness to continue implementing joint projects.
