Astana, the capital of Kazakhstan, attracted global attention on June 9. The grand opening ceremony of Expo 2017 was held in Astana on the same day , government leaders from 17 countries including China attended the ceremony, while delegations of 121 countries and 21 international organizations would participate in the Expo.
On the same day of the opening ceremony, the “JUMORE AIFC Pavilion” was officially launched, which symbolized a new milestone of cross-border e-commerce cooperation between Kazakhstan and JUMORE via financial cooperation. This will also inject new energy for the development of China-Kazakhstan cooperation, and even the advancement of Belt & Road Initiative, and global trade.
During the G20 Hangzhou Summit in 2016, Prime Minister Bakhytzhan Sakintayev (then First Deputy Prime Minister) of Kazakhstan attended the meeting and paid a visit to JUMORE. At the beginning of 2017, JUMORE Chairman Lu Hongxiang also visited Kazakhstan upon invitation, and was warmly received by Prime Minister Bakhytzhan Sakintayev. With the support from Prime Minister, JUMORE had established extensive cooperation with the business and political communities of Kazakhstan, and signed strategic cooperation agreements with institutions and enterprises like Kaznex Invest, Chamber of International Commerce of Kazakhstan, and the large-scale state-owned logistics enterprise KTZ Express. Besides, Kairat Kelimbetov, Governor of Astana International Finance Center, had reached a consensus on cooperation with UMORE Chairman on the establishment of “Belt & Road China-Kazakhstan Development Fund”, and invited JUMORE to be a board member of AIFC. The launching of “JUMORE AIFC Pavilion” is a major success of the cooperation between JUMORE and Kazakhstan, and the beginning of the comprehensive cooperation between JUMORE and AIFC.
Recently, AIFC has successfully joined the world financial center, and it aims to be an important international financial nexus in Central Asia and Eurasian area through internationalized judicial and supervision system, facilities of finance infrastructures, and green finance. It also bears the important task of constructing the infrastructure facilities of Kazakhstan finance and making Kazakhstan a world-level financial center. The launching of “JUMORE AIFC Pavilion” will encourage the two parties to conduct in-depth cooperation on the setting up of a settlement center, as well as the cooperation on industrial funds, international payment, and supply chain finance. It will also inject new energy into the trade communication between China and Kazakhstan, and the upgrading and transformation of Kazakhstani companies.
At a macro level, finance is the “blood vessel” for the normal operation of real economy. The infrastructure projects, manufacturing cooperation, and trade cooperation between China and B&R countries cannot go further without the support of finance. AIFC, as a member of world financial centers, can effectively function as a financial center to accumulate financial resources and stretch to other sectors. JUMORE, having established extensive cooperation with more than 130 countries around the world, has accumulated enormous amount of service resources in finance and all other sectors. The cooperation between the two parties will bring a new channel for the investment attraction of major and premium projects of the construction of Kazakhstan and Belt & Road, and then encourage financial cooperation between Kazakhstan and China, and that between Kazakhstan and other countries in the world. In the meantime, the two parties will take active measures to construct a multi-level cross-border finance system, establish the financial connection of B&R countries, and serve the construction of B&R with more resources derived from financial services.
JUMORE AIFC Pavilion will effectively promote the connectivity and cooperation between AIFC and China and relevant financial institutions around the world, thus laying a solid foundation for it become a world-level financial center. At the same time, the launching of JUMORE AIFC Pavilion will also encourage the outstanding companies of Kazakhstan in petroleum, chemicals, mining, non-ferrous metals, energy, steel, agricultural products, textile, food, and consumer products to join in JUMORE platform, to conduct trade with China and the world, and enjoy all-dimensional service in finance, logistics, big data, technology, consulting, and certification offered by world-leading service institutions.
The launching of JUMORE AIFC Pavilion is just an emblematic step of the cooperation between JUMORE and Kazakhstan. In the future, the cooperation between the two parties will keep accelerating and inject innovative energy to China-Kazakhstan trade communication and to the economic development of Belt & Road.
