CGTN's Sun Ye
Silk Road Fund has made a subscription of common shares in the Astana International Exchange, the fund announced Friday.
The agreement was signed Thursday, witnessed by Chinese President Xi Jinping and Kazakh President Nursultan Nazarbayev in Beijing, as a range of other cooperation deals were inked between the two countries.
Chinese President Xi Jinping met Kazakh Counterpart in Beijing. /CFP Photo
The fund’s move is also the first investment made by the subordinate special fund, China-Kazakhstan Production Capacity Cooperation Fund. The 2 billion US dollars fund was established in 2015 to promote cooperation between China and Kazakhstan.
According a press release, the Silk Road Fund also signed a memorandum of understanding Thursday on strategic partnership with Astana International Financial Centre. It says the cooperation will further align China’s Belt and Road Initiative with Kazakhstan's new economic policy Nurly Zhol or the Bright Path, strengthen bilateral ties, advance Kazakhstan's financial reforms and the development of its capital market.
Founded in December 2014 as a medium to long-term development and investment fund, the Silk Road Fund works to facilitate the Belt and Road Initiative. The China-Kazakhstan Production Capacity Cooperation Fund is the first special fund since the Silk Road Fund's establishment.