China-Kazakhstan economic, cross-border e-commerce ties to grow: Freedom Holding CEO

Core Insights - Freedom Holding's CEO, Timur Turlov, highlights an increase in cross-border e-commerce between China and Kazakhstan following a cooperation agreement signed in Beijing [1][5] - The agreement aims to enhance economic ties and facilitate payment systems between the two countries [2][5] Group 1: Agreement and Economic Ties - Freedom Bank, part of Freedom Holding, has partnered with Verum Payments and UnionPay Business to support Kazakhstan-China cross-border e-commerce [2][5] - The cooperation agreement was signed during Kazakhstan President Kassym-Jomart Tokayev's official visit to China, indicating strengthening relations between Kazakhstan and China [5] Group 2: Payment Systems and Infrastructure - The agreement will help establish payment channels and correspondent accounts in both yuan and US dollars, enhancing trade facilitation [3][7] - UnionPay Business will assist in developing the technical infrastructure necessary for these payment systems, while Freedom Bank will focus on expanding the payment system across Central Asia [7] Group 3: Future Opportunities - Turlov emphasizes the potential to create interoperable platforms that can facilitate cross-border financial flows while adhering to regulatory standards [4] - The company aims to collaborate with Chinese fintech firms and utilize various payment gateways, including WeChat, to streamline payments between the two nations [4] Group 4: Investment Context - Kazakhstan has been a key destination for China's Belt and Road Initiative, with significant investments totaling US$23 billion in the first half of 2025 [6] - The largest investment project in Kazakhstan is a US$12 billion aluminum complex led by East Hope Group, showcasing the scale of Chinese investment in the region [6]