The upcoming visit builds on growing ties between Hong Kong and the region, including a landmark dual listing by a tungsten mining giant and the issuance of offshore renminbi “dim sum” bonds by Kazakhstan’s development bank, both signs of expanding financial cooperation.
Lee described the upcoming trip as the largest overseas delegation of his term so far, both in scale and scope.
It will include government officials and more than 60 senior business representatives, surpassing last year’s Middle East visit.
The trip will also mark his first official visit to Central Asia since taking office, and his fifth mission tied to the Belt and Road Initiative.
Secretary for Commerce and Economic Development Algernon Yau noted that President Xi Jinping launched the initiative in 2013 during a visit to Kazakhstan.
“Therefore, Kazakhstan plays a very important role in the Belt and Road Initiative,” Yau said on an RTHK programme.
“Moreover, the country’s energy and mining sectors are very robust.”
Recent developments highlight the region’s growing importance, particularly in natural resources. Last year, a company behind Central Asia’s largest tungsten project chose to list simultaneously in Hong Kong and Kazakhstan.
Secretary for Financial Services and the Treasury Christopher Hui said the decision reflected the SAR’s strengths as an international financial hub.
“An important reason why they chose to list in Hong Kong is the city’s international character and connectivity with global capital,” he said.
“As an international financial centre, Hong Kong helps them attract international capital. At the same time, the country itself has high-quality enterprises – this is a perfect match.”
Meanwhile, financial links continued to deepen with the Development Bank of Kazakhstan issuing a three-year 2 billion yuan offshore renminbi bond in Hong Kong last September.
Kazakhstan has also established the Astana International Financial Centre (AIFC), a special economic zone operating under common law with tax incentives – features that align closely with Hong Kong’s own legal system.
Deputy Secretary for Justice Horace Cheung said this creates a natural basis for collaboration.
“They have set up the AIFC where civil and commercial matters can be handled under common law through a common law court. This represents a key opportunity for cooperation with Hong Kong,” he said.
