ASTANA, Kazakhstan, March 5. The National Bank of Kazakhstan and the People's Bank of China discussed the development of digital payment infrastructure during a meeting of the Subcommittee on Financial Cooperation in Astana, Trend reports.
The meeting of the subcommittee on financial cooperation of the Kazakhstan-China Cooperation Committee took place in Astana, Kazakhstan.
Representatives of the Kazakhstan Stock Exchange, the Central Securities Depository, the "Baiterek" Holding Group, the Astana International Financial Center, and the Kazakhstan Association of Financiers participated in the meeting. The Chinese delegation was represented by the State Administration of Foreign Exchange (SAFE), the Chinese Currency Trading System, the China Development Bank, and the Export-Import Bank of China.
The co-chairs of the subcommittee were Mrs. Aliya Moldabekova, Deputy Chairman of the National Bank of Kazakhstan, and Lou Lei, Deputy Governor of the People's Bank of China. The meeting also included representatives from second-tier banks, financial organizations, and government agencies from both countries.
The parties noted the positive dynamics of mutual settlements in national currencies, reviewed the activities of the "Industrial and Commercial Bank of China in Almaty" as a clearing bank for Yuan transactions in Kazakhstan, and discussed other issues of financial cooperation between the two countries.
The participants agreed to continue cooperation in the areas of payment infrastructure development, central bank digital currencies, as well as trade and project financing.
According to the General Administration of Customs of China, the trade turnover between Kazakhstan and China reached $43.8 billion in 2024.
The year 2024 became a significant stage in the development of the strategic partnership between Kazakhstan and China, with a focus on economic cooperation, infrastructure projects, and cultural exchange.
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