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China-Kazakhstan industrial cooperation flourishes under BRI framework

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China-Kazakhstan industrial cooperation flourishes under BRI framework

2025-06-13 18:31 Last Updated At:19:07

Kazakhstan has solidified its role as a standout partner in China's Belt and Road Initiative (BRI), with the Shieli cement plant symbolizing the industrial transformation sweeping the region.

Kazakhstan, among the earliest adopters of the BRI, has witnessed its partnership with China thrive, delivering tangible benefits to both countries.

The ever-stronger industrial cooperation between the two sides is exemplified by the Shieli cement plant in the Kyzylorda Region. Fully funded by the China Energy Engineering Group, the project came into operation in October 2019.

"Our oil-well cement has filled a local industry gap, holding 70 percent of the market share, ending Kazakhstan's long-term reliance on imported oil-well cement," said Wu Zhenhua, chairman of the project.

Uzbekistan, Kazakhstan's southern neighbor, was once the main export market for cement from the Shieli project. However, due to shifting regional trade dynamics, the exports to Uzbekistan have sharply dropped in recent years.

To explore new opportunities, the project has focused on the core automobile transport market, upgraded production technology, and expanded specialized storage capacity. In the first half of this year, output in its core market still rose by 48 percent year on year.

The operation has generated over 400 local jobs while exporting to five neighboring countries.

"Next, we will deepen cooperation in low-alkali and nuclear-grade cement, continuing to support Kazakhstan's infrastructure in sectors like railways and nuclear power," Wu said.

China-Kazakhstan industrial cooperation flourishes under BRI framework

China-Kazakhstan industrial cooperation flourishes under BRI framework

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Central banks of China, Egypt vow to deepen financial cooperation

2025-07-12 16:42 Last Updated At:17:07

The People's Bank of China (PBOC), China's central bank, said Friday that it signed a memorandum of understanding with the Central Bank of Egypt on Thursday, under which the two sides will strengthen bilateral financial cooperation, promote settlement in local currencies, and collaborate in the areas of central bank digital currencies and digital innovation.

Pan Gongsheng, governor of the PBOC, noted that financial and economic ties between China and Egypt are gathering pace, with bilateral trade rising steadily.

In the face of external uncertainties, the two central banks should continue to deepen practical collaboration in areas such as local-currency swaps and settlements, connectivity of payment and settlement systems, investment and financing in financial markets, and the establishment of financial institutions in each other's countries, Pan said. These efforts will provide more efficient and convenient services for enterprises of both countries in terms of trade, investment and financing, and will further consolidate and deepen the China-Egypt comprehensive strategic partnership, he added.

Central banks of China, Egypt vow to deepen financial cooperation

Central banks of China, Egypt vow to deepen financial cooperation

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