Hong Kong’s leader begins an official visit to Central Asia on Monday with his largest delegation to date, aiming to explore new markets amid geopolitical uncertainties and help mainland Chinese companies “go global”.
Sources said dozens of memorandums of understanding (MOUs) were expected to be signed by representatives from various sectors and their counterparts in Kazakhstan and Uzbekistan during the five-day visit.
One of the deals under the spotlight will be between tungsten miner Jiaxin International Resources – which debuted on both the Hong Kong and Kazakhstan stock exchanges last year in the world’s first such dual listing – and the Central Asian country’s industry ministry.
Advertisement
The company, backed by state-owned Jiangxi Copper, plans to increase the volume of ore extracted from 3.3 million tonnes to 4.95 million tonnes per year in the country, introduce new technology into the production chain and make additional investments in the deeper processing of mineral raw materials.
The 70-strong delegation led by Chief Executive John Lee Ka-chiu to Kazakhstan and Uzbekistan includes more than 40 local representatives from sectors ranging from logistics and innovation and technology to banking and aviation.
Advertisement
Lee arrived in Kazakhstan’s capital, Astana, on Sunday night and was met by national economy vice-minister Assan Darbeyev and the Chinese embassy’s minister counsellor, Cheng Kefan. He is expected to meet President Kassym-Jomart Tokayev on Monday.