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ICBC Officially Opens Its Representative Office in Astana

On May 4 (Astana local time), the Astana Representative Office of Industrial and Commercial Bank of China (Almaty) Joint Stock Company was officially opened at the capital of Kazakhstan. The establishment of the representative office in Astana further improved ICBC’s service network in Kazakhstan, which helped enhance ICBC's support for Sino-Kazakhstan economic and financial cooperation as well as the service efficiency and quality for the customers from both countries. It also contributed to the implementation of the Belt and Road Initiative. Dossaev, deputy prime minister of the Republic of Kazakhstan, Gu Shu, president of ICBC and Zhang Hanhui, Chinese ambassador extraordinary and plenipotentiary to Kazakhstan, attended the ceremony, delivered speeches and unveiled the nameplate for the Representative Office together.

Dossaev said that the operating institution of ICBC in Kazakhstan was established in the second year after the establishment of diplomatic relations between China and Kazakhstan, witnessing increasingly deepened political and economic exchange between China and Kazakhstan. Over the past 25 years, ICBC has been giving full play to its financial role in bridging economic cooperation between China and Kazakhstan, thus contributing to the economic cooperation between the two countries. At present, under the background of the in-depth connection between the Belt and Road Initiative of China and “The Path to the Future”, Kazakhstan’s new economic policy, cooperation between the two countries in telecommunication, petrochemical, transportation and other fields are becoming increasingly closer, in which the investment of 51 cooperative projects reached USD28 billion. The Astana Representative Office of ICBC was established at the right time. It is hoped that the institution of ICBC in Kazakhstan can become a regional center for providing modern high-quality financial services in Central Asia, and the establishment of the Representative Office can improve economic and trade cooperation between China and Kazakhstan.

President Gu Shu said at the opening ceremony that Kazakhstan was the very place that the Belt and Road Initiative was first announced, as well as an important fortress on the ancient Silk Road; the comprehensive strategic partnership between China and Kazakhstan has borne rich fruits, making it a model of friendly relations between China and its neighboring countries. In 1993, ICBC set up its first overseas operating institution in Almaty, the original capital of Kazakhstan. In the 25 years since the establishment of the institution, ICBC has been working hard in the local market, wholeheartedly serving Chinese and Kazakhstani customers, striving to promote trade between China and Kazakhstan, and encouraging the proper flow of capital and the common aspiration of people, thus playing an important role in economic exchange and cooperation between China and Kazakhstan. The establishment of ICBC’s institution in Astana showed the Bank’s confidence in the prospect of Kazakhstan’s economic development and its determination to support Sino-Kazakhstan economic and trade cooperation.

Zhang Hanhui said that there was a high political mutual trust between China and Kazakhstan, the senior leaders of the two countries contacted frequently and the relationship between China and Kazakhstan had been connected to the well-being of the people of the two countries. Further deepened cooperation between the two countries would contribute to the peace and stability in the region and the world.. ICBC's institution in Kazakhstan was indeed an important incarnation of Sino-Kazakhstan cooperation. He hoped that ICBC could play a better bridging role in building Astana into a financial center, and in promoting economic and trade exchanges between China, Kazakhstan and other Central Asian countries.

Up to now, ICBC has established overseas institutions in 45 countries and regions around the world and has indirectly extended the physical network services to 20 African countries by holding equity interests of Standard Bank in South Africa, therefore forming a global service platform covering international financial centers and China's major economic and trade areas with explicit layout, reasonable positioning, diversified channels and highly efficient operations. In this way, the bank provides quality and efficient global financial service support to Chinese enterprises’ "Going Global" strategy and the Belt and Road Initiative.