President of Kazakhstan Kassym-Jomart Tokayev took part in the 8th meeting of the Kazakhstan-China Business Council in Beijing with the participation of the First Vice Premier of the State Council of the People's Republic of China, Ding Xuexiang. 
Photo: Aqorda
The event was attended by over 500 representatives from government bodies and business structures of the two countries, including heads of more than 70 of the largest Chinese corporations. Following the meeting, over 70 commercial documents were signed totalling more than $15 billion.
Speaking at the meeting, President Tokayev emphasised China's role as a reliable neighbour and eternal strategic partner of Kazakhstan.
Trade turnover between the countries last year reached a record $44 billion. The goal is to significantly increase this figure over the next five years. China has already invested $27 billion in the Kazakh economy, with more than six thousand enterprises with Chinese capital operating successfully in the country, including CNPC, CITIC, SINOPEC and HUAWEI.
The President named transport and logistics as the first priority for cooperation. Kazakhstan provides 85% of all continental freight traffic between China and Europe. Thanks to the commissioning of second tracks on the Dostyk – Moiynty section, the capacity of the China – Europe transit corridor will increase fivefold this year. Along the Trans-Caspian International Transport Route, 4.5 million tonnes of cargo were transported last year, with plans to reach 10 million tonnes.
In the energy sector, plans include building a polyethylene production plant in the Atyrau region in partnership with Sinopec at a cost of $7.4 billion. There are also plans to modernise the Shymkent oil refinery with the China National Petroleum Corporation (CNPC) and construct a combined-cycle gas turbine unit with a capacity of 160 MW in the Mangystau region. In renewable energy, projects are being implemented with China Power International Holding and China Energy.
Special attention is being given to the development of nuclear energy. During negotiations with the President of the People's Republic of China, Xi Jinping, plans for attracting Chinese technologies and training specialists were discussed in detail. The China National Nuclear Corporation (CNNC) is expected to be involved in the work.
Furthermore, a number of industrial projects are being implemented with Chinese companies. Fujian Hengwang Investment is building a steel plant in the Zhambyl region with a capacity of three million tonnes of steel per year, and Jiaxin International is processing tungsten ore at the Boguty deposit. In Almaty, an automobile plant for GWM, Chery and Changan with a capacity of 120,000 units per year is being launched, along with a BYD electric bus plant.
Kazakhstan, which is among the top ten largest grain exporters, sees great potential in agro-industrial cooperation with China. The country annually supplies over ten million tonnes of wheat abroad.
The initiative by Dalian Group to create a grain processing enterprise in the Akmola region and the Fufeng Group project for corn processing in the Zhambyl region are welcomed.
The President declared support for the Chinese initiative to create a Global Artificial Intelligence Cooperation Organisation. In Kazakhstan, the first supercomputer in the region has been launched and the AlemAI International Centre for Artificial Intelligence has been opened.
Particular attention is being paid to the project for the new city of Alatau City – a centre for innovation and technological entrepreneurship. An agreement has been signed with the China State Construction Engineering Corporation for its construction.
On the platform of the Astana International Financial Centre, more than 4,200 companies operate, of which 850 are from China. The Development Bank of Kazakhstan made its debut issuance of eurobonds in yuan – the first such transaction in Central Asia.
The President also met with the Chairman of the Board of Directors of CNPC, Dai Houliang, and the President of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun. The AIIB has already supported projects in Kazakhstan totalling over $2 billion.
Summing up, Kassym-Jomart Tokayev emphasised that the most favourable conditions have been created in Kazakhstan for attracting large-scale investment, and that Chinese partners will be able to find reliable partners and unique opportunities for growth in the country.