On May 12, 1993, the Almaty Branch of the Bank of China was officially opened, becoming the first overseas branch of the Bank of China in Central Asia and one of the first foreign banks to enter Kazakhstan after its independence. In 1994, the Almaty branch of the Bank of China was re-registered as a local bank in accordance with the laws of Kazakhstan and renamed as "Bank of Kazakhstan China". Since its inception 28 years ago, The kazakh Bank of China has had assets of nearly us $1 billion and outstanding credit of over US $100 million.
As one of the most globalized and integrated commercial banks in China, bank of China is also a major bank participating in the Construction of the Belt and Road Initiative. After the Belt and Road Initiative was put forward, the Bank of China actively gave full play to its advantages in globalization and integration. At the end of 2014, it put forward the idea of building the financial artery of the Belt and Road initiative, which has achieved good results. By the end of the first quarter of 2021, boc's overseas branches had covered 61 countries and regions, including 25 countries along the Belt and Road. China has granted us $191.4 billion in credit to countries along the Belt and Road, and followed up more than 600 key projects in the Belt and Road region. The Bank of China has played an active role in supporting key projects under the Belt and Road Initiative, innovating investment and financing cooperation, and promoting the cross-border use of RMB.
Kazakhstan is the birthplace of the Belt and Road Initiative and the first stop of the Silk Road Economic Belt. The Kazakh Bank of China has been working here for 28 years and has accumulated fruitful results.
In 2005, the Bank of China directly participated in the negotiation of CNPC's acquisition of the equity of KAZAKHSTAN'S PK Petroleum Company, and undertook the drafting of project financing plans and contract terms. On the day of the acquisition, Bank of China coordinated the linkage of many institutions around the world and timely concentrated all funds into the trading account to ensure the complete success of the acquisition. The project has also become one of CNPC's most successful overseas acquisitions.
In 2007, CNPC signed a 30-year natural gas purchase agreement with Turkmenistan and began planning the China-Central Asia Natural Gas Pipeline project. At the invitation of CNPC, Bank of China participated in the whole project negotiation and provided financing suggestions and plans. In October 2008, the Bank of China and the China Development Bank jointly took the lead in forming A financing consortium for the Kazakhstan section of the Central Asian Natural Gas Pipeline project, providing financing for the construction of pipeline lines A, B and C and strongly supporting china-Kazakhstan energy cooperation.
In recent years, The Bank of China has made breakthroughs in its business in Kazakhstan, participating in syndicated projects covering oil and gas, pipelines, cement, mining, highway construction and other fields. In 2020, the Bank of China and the European Bank for Reconstruction and Development (EBRD) completed the "Greater Almaty Ring Road" financing project, which was widely reported by Kazakh and international media and awarded the Reuters International Project Finance Award (PFI Award) as the "Best Road Financing Project" in the same year.
In order to implement the outcomes of the Belt and Road Forum for International Cooperation and promote economic and trade exchanges and traditional friendship between China and Central Asian countries, the Bank of China held a Seminar on Belt and Road International Financial Exchanges and Cooperation among the five Central Asian countries in May 2019. Invitation from kazakhstan, kyrgyzstan, tajikistan, turkmenistan, and uzbekistan five central Asian countries of 30 senior government officials and business executives, through the exchange of learning in places such as Beijing, Shanghai, hangzhou, promote the five central Asian countries to build an understanding of the "region", more cooperation agreement, the formation of more practical results, It will inject new impetus into mutually beneficial cooperation between China and Central Asian countries.
The Kazakh Bank of China gives full play to its advantages and actively promotes the cross-border use of RMB. In 2017 and 2019, the Bank of China, together with kazakhstan central Bank and Kazakhstan Stock Exchange, held two "China-Kazakhstan Currency Forum" to promote RMB and Tenge local currency settlement. At the same time, Harbin Bank of China took the lead in becoming the RMB clearing bank and RMB market maker of Harbin Stock Exchange, and maintained a leading position in RMB trading volume and market making volume, taking the first place in market share. Kazakhstan Bank of China is also the first market maker to list RMB/Tenge T+0, T+1 and T+2 transactions in Kazakhstan Stock Exchange. In February 2021, Harbin Bank of China was awarded the title of "Best RMB Trading Bank in 2020" in the selection organized by Harbin Stock Exchange, making it the first and only bank in Kazakhstan to win this honor. In April 2019, kazakhstan Bank of China joined China's Xinjiang Tenge Regional Trading Market, further opening up the channel of direct exchange of local currencies between the two countries. Hundred years of history, surging and stirring. For more than 100 years, the Bank of China has always been committed to the spirit of excellence and the concept of "striving for the welfare of society and the prosperity of the country". In the new historical period, the Bank of China will, based on the new development stage, implement the new development concept, serve the new development pattern, shoulder the lofty mission of "integrating the world and benefiting society", strive to build a world-class modern banking group, and make new and greater contributions to the high-quality development of the Belt and Road initiative.
