en.Wedoany.com Reported - Hong Kong Exchanges and Clearing Limited (HKEX) announced on June 2, 2026, that it has signed two memoranda of understanding (MoUs) with the AIFC Authority, responsible for the strategic development of the Astana International Financial Centre (AIFC) in Kazakhstan, and its subsidiary, the Astana International Exchange (AIX). This initiative aims to strengthen collaboration and enhance capital market connectivity between Hong Kong and Central Asia. Previously, Jiaxin International Resources Investment Limited successfully completed a dual primary listing on HKEX and AIX in August 2025, becoming the first benchmark case for the cross-border listing mechanism between the two markets.
Under the MoU with the AIFC Authority, HKEX will advance cooperation in areas such as climate transition, carbon reduction, and green finance, including the development, financing, and implementation of sustainable aviation projects. The two parties will also collaborate on commodity market trading and ecosystem development, jointly supporting financing activities for early-stage mining projects. Under another MoU signed with AIX, the two exchanges will work together to expand cross-border listing opportunities, promoting dual listings of stocks (including primary and secondary listings) and cross-border listings of debt securities on both exchanges. They will also establish a regular communication mechanism to understand market trends and assess further business cooperation opportunities.
Jiaxin International Resources Investment Limited, founded in Hong Kong in 2014, focuses on developing the Bakuta tungsten mine in Kazakhstan. This mine is one of the 45 key projects under the Belt and Road Initiative for China-Kazakhstan industrial capacity cooperation and is the world's largest open-pit tungsten mine in terms of tungsten trioxide reserves. Jiaxin International completed a dual primary listing on HKEX and AIX in August 2025, becoming the first company to achieve simultaneous listings on both exchanges and the first renminbi-denominated stock in Central Asia. The project involves equity participation from central state-owned enterprises such as Jiangxi Copper and China Railway Construction. The Bakuta tungsten mine commenced production smoothly in November 2024, with Phase I commercial production starting in 2025.
Established in 2018, AIFC serves as Kazakhstan's regional financial center. AIX has equity participation from institutions including the Shanghai Stock Exchange and the Silk Road Fund. To date, AIFC has attracted over 5,700 enterprises from 90 countries, including more than 1,300 companies from mainland China. Prior to the signing of these MoUs, Hong Kong Chief Executive John Lee led a delegation to Kazakhstan and Uzbekistan in early June 2026, signing 96 cooperation agreements and MoUs involving a total amount exceeding $1.65 billion. Cathay Pacific plans to launch a direct flight route between Almaty and Hong Kong in 2027.
The signing of the MoUs between HKEX, AIFC, and AIX marks a significant step in capital market connectivity between Hong Kong and Kazakhstan. Through the dual listing mechanism, mining enterprises in Kazakhstan can access institutional funds from the Asia-Pacific region, filling industry capital gaps; meanwhile, HKEX can add high-quality mining assets from Central Asia, enriching its listing portfolio. This cooperation model is expected to accelerate the cross-border flow of capital, technology, and industries.
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