China-Kazakhstan financial cooperation subcommittee held sitting in Astana

The sides discussed a number of issues of cooperation and prospects of developing contacts between Kazakh and Chinese financial circles.

They exchanged information on macroeconomic and monetary policy in the two states. It was noted that the volume of commodity circulation is steadily increasing, which indicates the presence of the economic base and significant potential for expansion of payments in national currencies of the two countries.

The delegations agreed that at the invitation of the People's Bank of China, Kazakhstan will send a delegation to Shenzhen, Guangzhou and Hong Kong in October 2011 to study the successful experience and formulate proposals for the integration of payment systems between China and Kazakhstan.

They also agreed to strengthen cooperation in the use of bank cards and agreed to consider increasing transactions on the cards with the active marketing support of the payment system China UnionPay.