A business delegation led by Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) visited Astana, Kazakhstan, from June 1, 2026, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. The agreements span trade, investment, financial services, technology, aviation, and green finance, aiming to enhance cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan while leveraging Hong Kong's unique position as a two-way services platform to help enterprises tap into Central Asian opportunities.
The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 mainland provinces and municipalities, also included journalists from The Newspaper Society of Hong Kong and the Hong Kong News Executives' Association for the first time, aligning with the Policy Address's initiative to expand media overseas networks. The visit is part of broader efforts under the Belt and Road Initiative, with the delegation set to continue to Uzbekistan for further trade discussions.
At a business luncheon hosted by the HKSAR Government and HKTDC, Chief Executive John Lee emphasized Kazakhstan's historical role as a bridge between Eastern and Western civilizations and its modern significance as a logistics hub linking China and Europe. He noted Kazakhstan's rapid economic diversification and growth, stating, 'Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities.' HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan's status as Central Asia's largest economy, accounting for 53% of the region's GDP in 2025, and its ambitious 'Kazakhstan 2050 Strategy' to become one of the world's top 30 developed economies. He added, 'Under the Belt and Road Initiative, substantial cooperation opportunities will emerge across logistics infrastructure, green finance, digital economy, agriculture, and food processing.'
The delegation engaged with senior officials from Kazakhstan's government, chambers of commerce, and major corporations, including Atameken, Baiterek, Halyk Bank, and Samruk-Kazyna. They also visited Astana Hub and the Astana International Financial Centre (AIFC) to explore innovation and financial services developments. Among the key MoUs signed were agreements between the HKTDC and Atameken, AIFC, and Satbayev University; between Airport Authority and Almaty International Airport; and between Hong Kong Exchanges and Clearing Limited and AIFC. Other notable signatories included Cathay Pacific, Standard Chartered Bank, PCCW, and SCMP.
According to available data, Kazakhstan's GDP is projected to grow by 4.6% in 2026 to approximately US$360.5 billion, maintaining its position as Central Asia's largest economy. Uzbekistan's GDP is forecast to grow by 6.5% to US$181.5 billion. The IMF projects GDP growth for Central Asia and the Caucasus at 6.2% in 2025 and 4.8% in 2026, exceeding the global average of 3.1%. The 43 MoUs signed during the visit underscore Hong Kong's role as a superconnector and super value-adder, facilitating Mainland enterprises' global expansion and fostering deeper ties with Central Asia.
Additional MoUs were signed by non-delegation members in academic and cultural fields, including agreements between City University of Hong Kong and Satbayev University, and between Hong Kong Polytechnic University and Nazarbayev University. The visit reinforces Hong Kong's strategic importance under the Belt and Road Initiative, leveraging its financial, professional, and technological strengths to support regional economic integration.
