CE Leads Hong Kong Delegation to Strengthen Business Ties with Kazakhstan During the Visit

CE leads delegation to continue visit to Kazakhstan

The Chief Executive, Mr John Lee, today (June 2) led a business delegation comprising representatives from Hong Kong and Mainland enterprises to continue its visit programme to Kazakhstan. He met with the Prime Minister of Kazakhstan, Mr Olzhas Bektenov, visited various enterprises, and witnessed the achievement of multiple outcomes among government departments, enterprises and organisations of Hong Kong, the Mainland and Kazakhstan.

In the morning, Mr Lee visited Baiterek National Investment Holding, a national investment holding company of Kazakhstan, and met with the Chairman of the Board, Mr Rustam Timurovich Karagoishin. The company is a key financial operator of Kazakhstan's Government, with subsidiaries covering development bank, an entrepreneurship development fund, export insurance and housing, for promoting the sustainable growth of Kazakhstan's economy. He encouraged the company to leverage Hong Kong's well-established financial system and professional services to strengthen co-operation in areas such as infrastructure financing, bonds, and green finance. The Hong Kong Special Administrative Region (HKSAR) Government is pushing ahead at full speed with the development of the Northern Metropolis (NM), which covers multiple innovation and technology (I&T) and infrastructure projects, and serves as a new engine for Hong Kong's future development. He welcomed the company to explore the development potential of the NM and to jointly create new business opportunities.

Afterwards, Mr Lee met with Mr Bektenov to exchange views on strengthening bilateral co-operation. He noted that at the beginning of this year, Hong Kong was the world's 10th-largest net investor in Kazakhstan, and Asia's fourth-largest, reflecting close economic and trade ties between the two places. Hong Kong enjoys the unique advantages of having strong support of the motherland and being closely connected to the world under the "one country, two systems" principle. Hong Kong is an international financial, shipping and trading centre, and ranks No. 1 globally in economic freedom, enabling it to build bridges and create opportunities for investors. Hong Kong has been leveraging its world-leading professional services to help enterprises go global. He expressed the hope that Hong Kong and Kazakhstan would strengthen hub-to-hub connectivity, with Kazakhstan serving as a hub for Hong Kong to connect with the Central Asian market, and Hong Kong serving as a hub for Kazakhstan to enter East and Southeast Asian markets, thereby establishing a hub-to-hub co-operation model for mutual benefit and win-win outcomes.

At noon, Mr Lee attended a business luncheon hosted by the HKSAR Government and the Hong Kong Trade Development Council, where he delivered a speech to local political and business representatives, introducing Hong Kong's business advantages and development opportunities.

In his speech at the luncheon, Mr Lee was pleased to announce that multiple outcomes had been achieved during this visit. Notably, Hong Kong and Kazakhstan have agreed to push ahead at full speed with exploratory discussions on a Comprehensive Avoidance of Double Taxation Agreement, and discussions on an Investment Promotion and Protection Agreement, with the aim of concluding such agreements as soon as possible. In addition, a Hong Kong airline plans to launch direct flights to Almaty in the first quarter of 2027, further promoting economic, trade and people-to-people exchanges.

Mr Lee said that the Hong Kong business delegation has so far concluded a total of 43 Memoranda of Understanding and agreements covering areas including aviation, finance and trade, I&T, the digital economy, and green development. Discussions are continuing, and more co-operation agreements are expected to be reached.

In the afternoon, Mr Lee visited Samruk-Kazyna, the national sovereign wealth fund of Kazakhstan, and met with its Chief Executive Officer, Mr Nurlan Zhakupov, to learn about the fund's diversified portfolio of assets and Kazakhstan's investment strategies across different sectors. Mr Lee said that Hong Kong, as a safe harbour, offers a stable and secure investment environment. Hong Kong, ranked first globally in terms of funds raised through initial public offerings in the first quarter of this year, is an ideal listing and financing destination for the assets under the fund. He encouraged projects under the fund to list in Hong Kong and to make good use of Hong Kong's capital markets for investment risk diversification.

Mr Lee subsequently met with the Minister of Trade and Integration of Kazakhstan, Mr Arman Shakkaliyev, to exchange views on further deepening bilateral trade co-operation. Hong Kong is the world's fifth-largest trading entity in the merchandise trade economy, firmly supports and upholds free trade and multilateralism, and continues to expand its global trade network. Kazakhstan is actively expanding its role as a regional trading hub, promoting digital commerce and modernising its markets. There is vast room for co-operation between the two places in areas such as trade, logistics and financial technology. Enterprises in Kazakhstan can use Hong Kong as a gateway for exploring the markets of the Mainland and Asia. Hong Kong will continue to play its roles as a "super connector" and a "super value-adder", working hand in hand with Kazakhstan to explore new opportunities in economic and trade co-operation.

Mr Lee will continue his visit to Kazakhstan tomorrow (June 3) before proceeding to Uzbekistan to continue his visit programme.

The Chief Executive, Mr John Lee (centre), together with the Deputy Secretary for Justice, Dr Cheung Kwok-kwan (second left); the Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma (second right); the Chief Executive Officer of the Hong Kong Exchanges and Clearing Limited, Ms Bonnie Chan (first left); and the Chairman of the Guangzhou Pharmaceutical Holdings Limited, Mr Li Xiaojun (first right), meets the media in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (fourth right), attends a meeting with Baiterek National Investment Holding and meets with the Chairman of the Board of Baiterek, Mr Rustam Timurovich Karagoishin (fourth left) in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, attends a meeting with Baiterek National Investment Holding in Astana, Kazakhstan, today (June 2, Astana time). Photo shows (from first left) the Director of the Chief Executive's Office, Ms Carol Yip; the Secretary for Commerce and Economic Development, Mr Algernon Yau; the Deputy Secretary for Justice, Dr Cheung Kwok-kwan; Mr Lee; the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Republic of Kazakhstan, Mr Han Chunlin; and the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the meeting with the company. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (right), attends a meeting with Baiterek National Investment Holding and meets with the Chairman of the Board of Baiterek, Mr Rustam Timurovich Karagoishin (left) in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (left), meets with the Prime Minister of Kazakhstan, Mr Olzhas Bektenov (right), in Astana, Kazakhstan, today (June 2, Astana time), to exchange views on strengthening co-operation. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (left), meets with the Prime Minister of Kazakhstan, Mr Olzhas Bektenov (right), in Astana, Kazakhstan, today (June 2, Astana time), to exchange views on strengthening co-operation. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (left), meets with the Prime Minister of Kazakhstan, Mr Olzhas Bektenov, in Astana, Kazakhstan, today (June 2, Astana time), to exchange views on strengthening co-operation. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (third left), meets with the Prime Minister of Kazakhstan, Mr Olzhas Bektenov (third right), in Astana, Kazakhstan, today (June 2, Astana time), to exchange views on strengthening co-operation. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (right), meets with the Minister of Trade and Integration of Kazakhstan, Mr Arman Shakkaliyev (left) to exchange views on further deepening bilateral trade co-operation, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (left), meets with the Minister of Trade and Integration of Kazakhstan, Mr Arman Shakkaliyev (right) to exchange views on further deepening bilateral trade co-operation, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, meets with the Minister of Trade and Integration of Kazakhstan, Mr Arman Shakkaliyev, to exchange views on further deepening bilateral trade co-operation, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (third left), meets with the Minister of Trade and Integration of Kazakhstan, Mr Arman Shakkaliyev (third right), to exchange views on further deepening bilateral trade co-operation, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, meets with the Chief Executive Officer of Samruk-Kazyna, Mr Nurlan Zhakupov, in Astana, Kazakhstan, today (June 2, Astana time). Photo shows Mr Lee (second left) and Mr Nurlan Zhakupov (second right) witnessing the exchange of a Memorandum of Understanding between InvestHK and Samruk-Kazyna. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (third right), meets with the Chief Executive Officer of Samruk-Kazyna, Mr Nurlan Zhakupov (third left), in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (centre), meets with the Chief Executive Officer of Samruk-Kazyna, Mr Nurlan Zhakupov, in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee (left), meets with the Chief Executive Officer of Samruk-Kazyna, Mr Nurlan Zhakupov (right), in Astana, Kazakhstan, today (June 2, Astana time). Source: HKSAR Government Press Releases

Findings of 2026 Pay Trend Survey

The following is issued on behalf of the Pay Trend Survey Committee:

The Pay Trend Survey Committee (PTSC) met today (June 3) to examine the findings of the 2026Pay Trend Survey (PTS).

The validated survey findings indicate that the following average pay adjustments were awarded by the surveyed companiesover the 12-month period from April2, 2025, to April1, 2026:

Salary bands in which surveyed employees are grouped

Basic Pay Indicator

Additional Pay Indicator

Gross Pay Trend Indicator

Lower Salary Band (below $26,590 per month):

2.73%

-0.40%

2.33%

Middle Salary Band ($26,590–$81,510 per month):

3.16%

0.51%

3.67%

Upper Salary Band ($81,511–$163,905 per month)

3.29%

1.87%

5.16%

The 2026 PTS was conducted by the Pay Survey and Research Unit of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service in accordance with the methodology approved by the Chief Executive in Council in March 2007.

The survey findings reflect the pay trend in 104 surveyed companies covering 154 887 employees over the 12-month period from April 2, 2025, to April 1, 2026. The survey takes into account adjustments to the basic salaries and additional payments awarded to employees of the surveyed companies attributable to factors in relation to the cost of living, general prosperity and company performance, general changes in market rates, merit and inscale increments, in accordance with the approved survey methodology.

A breakdown of the 104 companies by size is as follows:

Number of companies

 Larger companies (employing 100 or more staff members)

80 (77%)

Smaller companies (employing between 50 and 99 staff members)

24 (23%)

Total : 104 (100%)

The distribution of the 154 887 employees by the three salary bands is as follows:

Salary bands in which surveyed employees are grouped

Number of employees

Lower Salary Band (below $26,590 per month)

63 493 (41%)

Middle Salary Band ($26,590–$81,510 per month)

77 516 (50%)

Upper Salary Band ($81,511–$163,905 per month)

13 878 (9%)

Total :

154 887 (100%)

The PTSC met today to examine and consider the 2026 PTS Report. Members present unanimously confirmed the survey findings. The PTSC will submit the 2026 PTS Committee Report to the Government after the meeting.

The PTSC is chaired by Mr Laurence Li, SC. The PTSC expressed its sincere appreciation to the companies for the full assistance that they rendered to the Pay Survey and Research Unit.

Photo source: reference image