A joint delegation of the Shanghai Stock Exchange and Silk Road Fund of China visited Astana upon the invitation of the Astana International Financial Centre (AIFC) in order to share experience on the development of the stock exchange and capital market, as well as expansion of cooperation in the investment area.
During the meeting, Kairat Kelimbetov, the Governor of the Astana International Financial Centre briefed the Chinese delegation on the initiative of President Nursultan Nazarbayev to create the AIFC, which purpose is to create a leading international centre of financial services in Kazakhstan by attracting global investors and participants, working in accordance with international best practices.
Kelimbetov also noted that China in the past 15 years has become one of the most influential players in the international financial market by deploying active and successful activity in Shanghai; and the AIFC is interested in learning this experience.
Bo Que, Vice President of the Shanghai Stock Exchange who led the delegation of the SSE and the Silk Road Fund in Astana, pointed out that the Chinese side is interested in providing full support to the AIFC to establish the Stock Exchange in Astana and intends to become a strategic partner with the support of the Silk Road Fund.
Executive Vice President of the Silk Road Fund Guorong Ding also expressed readiness of the SRF to explore new opportunities for expanding investment activities in order to implement the main tasks of the "One Belt One Road" strategy and contribute to the development of both Kazakhstan and Central Asian region economies. As a result of the meeting, the Parties signed a Memorandum of Understanding and Cooperation.
The Chinese delegation also had meetings with the heads of the National Managing Holding "Baiterek" and JSC Sovereign Wealth Fund «Samruk-Kazyna»; and visited the territory of the “Astana EXPO-2017” exhibition.
AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in the post-Soviet region, Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.