Bakai Bank’s Hong Kong branch held a media briefing on Thursday (October 29). Andreas Meletiou, Chief Executive of the Hong Kong branch, said the branch is pressing ahead with preparatory work and aims to open officially in early next year. As the Renminbi (RMB) has become the mainstream settlement currency for bilateral trade between China and Central Asia, Bakai Bank will leverage Hong Kong’s RMB liquidity to launch Central Asian currency/RMB hedging products to fill a gap in the market.
Andreas Meletiou, Chief Executive of the Hong Kong branch. Photo by Bastille Post
The Hong Kong Monetary Authority (HKMA) officially granted Bakai Bank Restricted Licence Bank status on October 5 under the Banking Ordinance. As a leading commercial bank in the Kyrgyz Republic, Bakai Bank becomes the first financial institution from Central Asia to establish a banking presence in Hong Kong, and the first bank from the region to enter the Asia-Pacific market. Meletiou said this is a milestone for Bakai Bank and a breakthrough for the country and the Central Asian region, marking the first time a Central Asian bank has established an operating network in the Asia-Pacific.
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Andreas Meletiou, Chief Executive of the Hong Kong branch. Photo by Bastille Post
China-Central Asia freight train opens a new route to Turkmenistan. Photo: source: CGTN
Bakai Bank has obtained a Hong Kong banking licence, becoming the first Central Asian bank to establish a presence in the Asia-Pacific region.
Bakai Bank has obtained a Hong Kong banking licence, becoming the first Central Asian bank to establish a presence in the Asia-Pacific region.
Bakai Bank is committed to serving as a financial intermediary between Central Asia and the Asia-Pacific, focusing on corporate and financial institution clients and providing wholesale banking services including cash management, trade finance, treasury services and foreign exchange hedging. Meletiou noted that economic and trade exchanges between China and Central Asia have been extremely vibrant in recent years. Bilateral trade exceeded US$100 billion in 2025 and is expected to rise further to US$120 billion by the end of this year.
China-Central Asia freight train opens a new route to Turkmenistan. Photo: source: CGTN
He believes that the trade corridor between Central Asia and the Asia-Pacific is still at an early stage of development, and the related financial intermediation services remain relatively immature. Corporate demand for cross-border payments, foreign exchange and trade finance has not been fully met, and Bakai Bank is well placed to fill this market gap.
On the decision to establish a presence in Hong Kong, Meletiou stressed that it was a "very conscious choice" after careful deliberation. He explained that Hong Kong, as the East-West "Super Connector" and a gateway connecting the Mainland with the world, has a mature and robust regulatory framework, advanced technology and legal systems, and a deep pool of international financial talent. He also thanked the Hong Kong Government and Invest Hong Kong for their strong support throughout the application process, which progressed smoothly with the active cooperation of all parties.
Bakai Bank has obtained a Hong Kong banking licence, becoming the first Central Asian bank to establish a presence in the Asia-Pacific region.
He also noted that Hong Kong is the world’s largest offshore RMB business hub, with abundant RMB liquidity, providing advantages for promoting RMB internationalisation and handling related cross-border transactions. Bakai Bank therefore plans to launch Central Asian currency/RMB hedging products, since "such products are almost non-existent in the market at present".
Bakai Bank’s Hong Kong team currently has about 40 staff and is expected to grow to about 50 within two to three years. It will engage in deep cooperation with tens of thousands of fintech companies in Central Asia and across Asia, and leverage artificial intelligence and advanced technology to achieve scalable development in an asset-light and highly efficient manner.
Bakai Bank has obtained a Hong Kong banking licence, becoming the first Central Asian bank to establish a presence in the Asia-Pacific region.
Meletiou said there are no plans at this stage for further international expansion, as the Hong Kong base is already sufficient to execute the current cross-regional strategy. Additional licences may be sought in the future in response to business development to broaden the product range, but the focus in the coming years will be on a smooth opening and laying a solid foundation. He expects that if Bakai Bank succeeds, other Central Asian banks may follow suit and establish a presence in Hong Kong. However, given the time required to apply for a banking licence, direct peer competition is not expected in the near term.
Speech by STL at launching ceremony of Super Terminal Expo
Following is the speech by the Secretary for Transport and Logistics, Ms Mable Chan, at the launching ceremony of Super Terminal Expo today (November 3):
The Secretary for Transport and Logistics, Ms Mable Chan. Photo source: reference image
(Deputy Administrator of the Civil Aviation Administration of China Mr Han Jun), Chairman of the Airport Authority Hong Kong, Mr Fred Lam, COO (Chief Operating Officer) of Informa PLC and Chief Executive of Informa Markets, Mr Patrick Martell, distinguished guests, ladies and gentlemen,
Good morning. It is indeed my great pleasure to join and welcome you all to this marvelous event. Hong Kong is very honoured to host this premier global gathering at a historic milestone in our city's developmental journey. Following the success of our event last year, we are thrilled that this third edition of the Super Terminal Expo has seen a significant increase in both participants and exhibition booths. This remarkable growth is a strong testament to Hong Kong's enduring significance in the global aviation landscape. This year's expanded showcase puts a special spotlight on our cutting-edge smart airport initiatives, alongside our robust aviation pillar industries, including aircraft maintenance and recycling, and the rapidly evolving low-altitude economy. With our Three-Runway System unlocking new potentials, and the realisation of our Airport City vision through SKYTOPIA, we are setting new global benchmarks for smart airports, sustainability and seamless travel for passengers. The Super Terminal Expo offers an unparalleled platform to showcase how Hong Kong shapes the future of terminal operations around the world.
Indeed, our commitment to setting these global benchmarks is already recognised by the international community. Just recently, Hong Kong International Airport received two prestigious honours at the Payload Asia Awards, including the top accolade of Global Airport of the Year, as well as Air Cargo Technology Provider of the Year, marking the fourth consecutive year our technological advancements have been recognised worldwide. Furthermore, our outstanding cargo performance and capabilities were once again recognised and affirmed at the 42nd Air Cargo News Awards in London, where we were named Cargo Hub of the Year, proudly retaining the title we won in 2024. Deep congratulations to the Airport Authority Hong Kong for the wonderful performance over the past few years.
Just weeks ago, we unveiled Hong Kong's First Five-Year Plan for economic and social development. This foundational blueprint establishes a clear roadmap to reinforce Hong Kong's position as the world's international aviation hub, explicitly steering our industries toward a high-value-added, green and smart future.
Hong Kong. Photo source: reference image
Under this year's theme, "Shaping Asia's Future Transportation Hubs", we are united around three critical pillars: design and development, operations and efficiency, and connectivity and mobility. In this spirit of redefining the future, it is only fitting that we stand here today to witness our next major step forward - a vital new milestone for Hong Kong's international aviation hub.
Today, Hong Kong International Airport is officially launching a game-changing service under the National "Trunk-Branch Connectivity, Whole-Network Linkage" initiative, , through two pioneering corridors: the Hangzhou-Hong Kong Connect and the Wuhan-Hong Kong Connect. By launching these two corridors, we are integrating with our national transfer platform that has already achieved significant and phenomenal success on a massive scale. To put this into perspective, this transfer platform is already active across more than 260 airports on the Mainland and has cumulatively facilitated over 260 million transfer passengers, allowing tens of millions of travellers to enjoy the unprecedented convenience of one-stop check-in and seamless baggage transfers, the two most critical functions to enhance customer experience.
This is far more than a commercial expansion. It is a policy breakthrough which embeds Hong Kong directly into the national overall aviation architecture, and definitively anchors our aviation legacy and secures our future as the preeminent international gateway connecting the Chinese Mainland, the second-largest economy and second-most-populated country to the rest of the world, of course, through Hong Kong, an important aviation hub. To maximise this advantage, we are actively expanding our global footprint. Under Hong Kong's recently promulgated Five-Year Plan, we have set, among other important targets, a very important target to increase our global aviation network from the existing 220 destinations to 240. With this expansion of global destinations, we can strategise and focus on high-growth target markets such as South America, Central Asia, Africa and the Middle East.
By aligning our global reach directly with the domestic network, Hong Kong is uniquely empowered to act as the vital lynchpin, which is small but serves a very important role, where the country's "inner circulation" seamlessly connects with the international "outer circulation". This lynchpin role of Hong Kong International Airport is absolutely pivotal to Hong Kong fulfilling our unique mandate as a "super-connector" and "super value-adder" for the nation and the world, unlocking tremendous opportunities for the trade and for our aviation industry.
Ladies and gentlemen, as we embark on this transformative chapter, Hong Kong stands ready not just to witness the future of global aviation, but to participate and redefine it. The access is built, the market is ready, and the opportunity to capture prime market share and create lasting value is right in front of us. Now, the stage is set. May I invite all of you to participate and seize these golden opportunities ahead. Together, we can turn visionary blueprints into real actions and shared global success.
Thank you.
The Super Terminal Expo. Photo source: superterminalexpo.com
