NB, KASE held joint briefing for Hong Kong delegation

ALMATY. KAZINFORM A meeting with the delegation from Hong Kong headed by Financial Secretary of Hong Kong John Tsang, the management of the National Bank of the Republic of Kazakhstan and KASE was held in Almaty today. This is the first business mission to Central Asia, organized by the Hong Kong Government and the Hong Kong Trade Development Council. As part of the visit the delegation scheduled meetings in Astana and Almaty from September 13 to 17. The main purpose of the visit is to establish business ties between Hong Kong and Kazakhstan, a press release reads.

The Chairwoman of the Management Board of KASE A. Aldambergen made a presentation "KASE is a leading trading marketplace in Central Asia", telling about the stock market of Kazakhstan, list of instruments, current trading volume and market capitalization of KASE traded shares and bonds, and in general about the market prospects. The Chairwoman of the Management Board of KASE emphasized that trading in the currency pair Kazakhstani tenge / Chinese yuan was launched on the Kazakhstan trading floor in September 2014, and it shows a steady growth.

During the meeting the participants discussed the prospects of cooperation between Kazakhstan and China in the framework of the initiative put forward by China "One Belt and One Road", first brought up by the President of the People's Republic of China Xi Jinping in 2013. The meeting participants discussed the issues of further cooperation aimed to attract Hong Kong investments to the economy of Kazakhstan, and agreed to establish a closer partnership between the Hong Kong and Kazakhstan stock exchanges.

"Kazakhstan is a country with the largest economy in Central Asia. Thanks to its strategic location and well-developed infrastructure, the resource-rich Kazakhstan has shown a dynamic growth as an economic power in the region and an important gateway between Asia and Europe. The Kazakhstan enterprises are welcome to effectively take advantage of the benefits proposed by Hong Kong and enter international markets using the professional services of Hong Kong companies," John Tsang said.

The Hong Kong delegation headed by Financial Secretary of Hong Kong SAR John Tsang also included heads of Hong Kong Trade Development Council, Hong Kong Stock Exchange, Monetary Authority, Hong Kong Securities Association, Hong Kong Venture Capital and Private Equity Association, Financial Services Development Council, Hong Kong International Chamber of Commerce, Hong Kong Association of China Business, Federation of Hong Kong Industries and the largest financial, investment, consulting and technology companies.

For reference

KASE is the leading stock exchange in the Central Asian region and the only exchange in Kazakhstan, carrying out their activities in the financial market. It is a universal trading platform for repo market instruments, foreign currencies, government and corporate securities, bonds of international financial institutions as well as derivatives. The total market value of companies whose shares are traded on KASE currently makes KZT13.19 trillion (US$38.88 billion). The corporate exchange-traded debt is KZT8.56 trillion (US$25.24 billion), the government debt is KZT6.9 trillion (US$20.39 billion).

KASE is the member of the World Federation of Exchanges (WFE), the Federation of Euro-Asian Stock Exchanges (FEAS) and other international and local professional associations. In 2015, KASE joined the UN Sustainable Stock Exchanges initiative. 

Currently reading