A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) signed 43 memoranda of understanding (MOUs) and announcements during a visit to Astana, Kazakhstan, on June 1-2, 2026. The agreements span trade, investment, financial services, technology, aviation, and green finance, aiming to bolster economic cooperation among Hong Kong, mainland China, and Kazakhstan.
The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 Chinese provinces and municipalities, marks a significant push under the Belt and Road Initiative. John Lee highlighted Kazakhstan’s historical role as a bridge between Eastern and Western civilizations, noting its modern status as a logistics hub linking China and Europe. “Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities,” Lee said at a business luncheon attended by over 300 leaders and officials.
Prof Frederick Ma, Chairman of the HKTDC, emphasized Kazakhstan’s economic weight, accounting 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. “This visit has enhanced local enterprises’ understanding of Hong Kong’s advantages as a superconnector and super value-adder,” Ma stated, citing opportunities in logistics, green finance, digital economy, and agriculture.
Key MOUs include partnerships between the HKTDC and Kazakhstan’s National Chamber of Entrepreneurs ‘Atameken’, the Astana International Financial Centre (AIFC), and Satbayev University. Other notable signings involve the Airport Authority with Almaty International Airport, Hong Kong Exchanges and Clearing Limited with AIX and AIFC, and Cyberport with Astana Hub. Financial institutions like BOCHK, Standard Chartered Bank, and China International Capital Corporation also inked agreements with Kazakh entities.
The delegation visited Astana Hub and the AIFC to explore innovation and financial services. For the first time, journalism associations joined the delegation, aligning with Hong Kong’s policy to expand media overseas networks and tell Hong Kong’s story.
Kazakhstan’s GDP is projected to grow 4.6% in 2026 to about $360.5 billion, while Uzbekistan’s is forecast to expand 6.5% to $181.5 billion. The IMF predicts Central Asia and the Caucasus will grow 6.2% in 2025 and 4.8% in 2026, outpacing the global average of 3.1%.
After Kazakhstan, the delegation will travel to Uzbekistan to further explore cooperation under the Belt and Road Initiative. The HKTDC, celebrating its 60th anniversary, promotes Hong Kong as a two-way global investment hub through exhibitions, conferences, and business missions.
