ASTANA, Kazakhstan, June 21. The Chinese Jumway Group plans to implement a large investment project in Kazakhstan, Trend reports.
This was stated during a meeting between the Minister of Foreign Affairs of Kazakhstan Murat Nurtleu and the Chairman of the Board of Directors of the Chinese company, Hu Jian Xiong.
During the meeting, the head of the Chinese company presented plans for the implementation of joint investment projects in Astana, including the whole nine yards - the construction of a shopping and entertainment cluster, a hotel complex, recreation and leisure facilities, and commercial and residential real estate.
Hu Jian Xiong noted that the company, in cooperation with other large corporations, plans to build a multifunctional complex with an area of 1 million square meters.
In turn, Nurtleu pointed out that the project can become a new growth point for the capital in the context of developing tourism, business, and cultural potential.
To note, China became Kazakhstan's largest trading partner in 2023. The trade turnover between Kazakhstan and China was $31.4 billion in 2023. The volume of trade turnover increased by 30 percent from the same period in 2022 ($24.2 billion).
When it comes to trade turnover, exports to China during the said period amounted to a whopping $14.7 billion, which is a 14.7 percent increase compared to the period from January through December 2022 ($13 billion).
In addition, imports from China surged by 50.5 percent from January through December 2023, totaling $16.7 billion. In 2022, imports totaled $11.1 billion.