A business delegation led by Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) began its visit to Astana, Kazakhstan, on June 1, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. The agreements cover trade, investment, financial services, technology, aviation, and green finance, aiming to bolster economic and industrial cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan. The delegation highlights Hong Kong’s unique role as China’s two-way services platform, supporting enterprises in tapping opportunities in Central Asia.
During the visit, the HKSAR Government and HKTDC jointly hosted a business luncheon attended by over 300 business leaders and senior officials. John Lee emphasized Kazakhstan’s historical role as a bridge between Eastern and Western civilizations, noting its modern significance as a business and logistics hub linking China and Europe. “Kazakhstan is a regional economic powerhouse,” Lee said. “Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities.”
HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan’s economic strength, noting it accounts for 53% of Central Asia’s GDP in 2025. Under its Kazakhstan 2050 Strategy, the country aims to become one of the world’s top 30 most developed economies by 2050. “This visit has enhanced local enterprises’ understanding of Hong Kong’s advantages as a superconnector and super value-adder,” Ma said. “Substantial cooperation opportunities will emerge across sectors including logistics, green finance, digital economy, and agriculture.”
The delegation comprises 70 business leaders from Hong Kong and representatives from 17 Mainland provinces and municipalities, covering sectors such as financial services, logistics, innovation and technology, trade, green industries, energy, biopharmaceuticals, automotive, and media. For the first time, journalism associations including The Newspaper Society of Hong Kong and the Hong Kong News Executives’ Association joined, aligning with the Policy Address’s initiative to enable local media to expand their overseas network.
In Kazakhstan, the delegation met with senior representatives from government bodies, chambers of commerce, and major corporations, including the National Chamber of Entrepreneurs ‘Atameken’, ‘Baiterek’ National Investment Holding, Halyk Bank, and Samruk-Kazyna. They also visited Astana Hub and the Astana International Financial Centre (AIFC) to learn about local developments in innovation, technology, and financial services.
Key MoUs signed include agreements between HKTDC and ‘Atameken’, HKTDC and AIFC, Airport Authority and Almaty International Airport, Cyberport and Astana Hub, Hong Kong Exchange and Clearing Limited and AIFC, and BOCHK with Baiterek and Samruk-Kazyna. Additional deals involve companies like Cathay Pacific, PCCW, Standard Chartered Bank, and SCMP, covering areas from aviation to digital economy and media collaboration.
Kazakhstan’s GDP is projected to grow 4.6% in 2026 to about US$360.5 billion, maintaining its status as Central Asia’s largest economy. Uzbekistan’s GDP is forecast to grow 6.5% to US$181.5 billion. The IMF expects Central Asia and the Caucasus to grow 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%.
The delegation will conclude its Kazakhstan visit and proceed to Uzbekistan to further explore trade cooperation under the Belt and Road Initiative. The visit underscores Hong Kong’s role as a gateway for Mainland enterprises to go global, leveraging the HKTDC platform to create new opportunities with Central Asia.
