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) signed 43 memoranda of understanding (MoUs) and announcements during a visit to Astana, Kazakhstan, on June 1, 2026. The agreements cover trade, investment, financial services, technology, aviation, and green finance, aimed at bolstering economic ties among Hong Kong, mainland China, and Kazakhstan. The delegation highlights Hong Kong's unique position as a two-way services platform, enabling enterprises to tap into opportunities in Central Asia under the Belt and Road Initiative.
The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 Chinese mainland provinces and municipalities, will conclude its Kazakhstan visit and proceed to Uzbekistan to explore further cooperation. During a business luncheon hosted by the HKSAR Government and HKTDC, which attracted over 300 business leaders and senior officials, Chief Executive John Lee emphasized Kazakhstan's historical role as a bridge between Eastern and Western civilizations. "Kazakhstan has, for centuries, connected Eastern and Western civilisations, serving as a bridge of commerce, culture and innovative ideas," Lee said. He noted Kazakhstan's development as a business and logistics hub linking China and Europe, rich in resources and rapidly diversifying its economy. "Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities," he added.
HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan's economic significance, 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 by 2050. "This visit has enhanced local enterprises' understanding of Hong Kong's advantages as a superconnector and super value-adder," Ma stated. He anticipated substantial cooperation opportunities in logistics infrastructure, green finance, digital economy, agricultural upgrading, and food processing, leveraging the model of mainland enterprises going global with Hong Kong.
The delegation met with senior representatives from Kazakhstan's 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 explore innovation and financial services. Notable MoUs include agreements between HKTDC and Atameken, HKTDC and AIFC, Airport Authority and Almaty International Airport, Hong Kong Exchange and Clearing Limited and Astana International Exchange, and Cyberport and Astana Hub. Other signatories include Cathay Pacific, PCCW, Standard Chartered Bank, and various mainland and Hong Kong entities, covering sectors from aviation to biotechnology.
Kazakhstan's GDP is projected to grow by 4.6% in 2026, reaching approximately US$360.5 billion, maintaining its position as Central Asia's largest economy. Uzbekistan's GDP is forecast to grow by 6.5% to US$181.5 billion. The IMF forecasts GDP growth for Central Asia and the Caucasus at 6.2% in 2025 and 4.8% in 2026, outpacing the global average of 3.1%. These figures underscore the region's economic potential and the strategic importance of the signed agreements for fostering trade and investment flows.
