The delegation of the Astana International Financial Centre (hereinafter – AIFC), led by the Governor Mr Kairat Kelimbetov, took part in the annual Boao Forum for Asia 2018 (BFA), which was held on April 8-11 in the town of Boao, Hainan Province of the People’s Republic of China.
Among the 60 sessions of the forum, major attention was paid to the Innovation segment, where such topics as blockchain, new trade, the future of production and communications, which are important within the framework of the AIFC activity, were discussed.
“Today we are negotiating with the largest investment banks in China. The Shanghai Stock Exchange (SSE) is a strategic partner and shareholder of the AIX exchange, which provides access to China’s investment liquidity. But apart from China’s best practices in finance, we are interested in the fintech, as this field is very actively developing in China, and we would like to invite Chinese companies to cooperate,” Kairat Kelimbetov said during a panel session dedicated to the development of the financial system.
The strategic partnership of the two states will enable AIFC to occupy a niche as a financial services centre within the framework of the Belt and Road initiative.
The AIFC delegation participated in the Investor Day which was organized by Sovereign Wealth Fund Samruk-Kazyna JSC at the SSE’s platform, an AIFC’s partner, on April 11 in the city of Shanghai. Mr A. Yessimov, CEO of Samruk-Kazyna JSC, HE Mr Sh. Nuryshev, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the People’s Republic of China, Dr. Huang Hongyuan, President of the SSE, and Mr K. Kelimbetov, Governor of AIFC jointly presented the investment opportunities of Kazakhstan in the context of the implementation of the state privatization program.
During the visit, the AIFC delegation held bilateral meetings with the representatives of Chinese businesses and signed memorandums of cooperation with Chinese financial institutions. A memorandum of understanding was signed with Haitong Securities, which works in the field of brokerage, investment banking, and corporate finance. A memorandum was also signed with Shenwan Hongyuan Securities, a large Chinese company that provides consulting and brokerage services for securities.
In Beijing, negotiations were held with the top management of the three leading banks of the People’s Republic of China, such as the Bank of China, China Construction Bank and Industrial and Commercial Bank of China. As a result of the negotiations, memorandums were signed with the Industrial and Commercial Bank of China, and CITIC Securities, which provides high-quality securities-related services, including securities trading, underwriting and sponsoring, proprietary trading, asset management and investment banking advisory services. For AIFC, as a new participant in the financial market, signing memorandums with leading banks and companies of China is very important for the development.
In addition, the delegation of the AIFC met with the leaders of the Silk Road Fund, who express the interest in the activities of the AIFC and AIX, in the context of promoting projects within the Belt and Road initiative.
The AIFC delegation also took part in a Joint People’s Bank of China – International Monetary Fund High-level Conference Macroeconomic and Financial Frameworks for the Successful Implementation of the Belt and Road Initiative. At this event, the AIFC Governor, delivering a presentation, informed participants about the activities of the financial centre. Yi Gang, Governor of the People’s Bank of China, Christine Lagarde, Managing Director of IMF, Fan Hengshan, Deputy Secretary-General of National Development and Reform Commission, and Wang Yongsheng, Executive Vice President, of China Development Bank took part at the conference as key speakers.
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services.
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. www.aifc.kz
AIX. In October 2017 during the meeting of the Board of Directors of AIFC, a decision to create AIX was taken. The main strategic partners of AIX are the Shanghai Stock Exchange and NASDAQ, which provided a technical platform. Shanghai Stock Exchange and NASDAQ are among the five largest exchanges in the world. The role of the AIX is to enable domestic and regional development, through the mobilisation of domestic resources and foreign portfolio flows. In doing so, the exchange promotes good governance through its business practices. www.aix.kz