Kazakhstan's Minister of Trade and Integration met with the heads of major Chinese stock exchanges
On 7 November 2023 in Shanghai, Minister of Trade and Integration Arman Shakkaliev held meetings with major exchanges in China - Dalian Commodity Exchange and Shanghai Futures Exchange.
The first meeting was held with Yan Shaoming, General Manager of Dalian Commodity Exchange. Dalian Commodity Exchange is one of the largest commodity exchanges in China. In 2023, it was ranked 1st among the world's leading derivatives exchanges by the Futures Industry Association.
The meeting was also attended by Renat Bekturov, Manager of Astana International Financial Centre, who in turn presented the investment opportunities of the financial centre.
Arman Shakkaliyev emphasised the aspiration of the two countries to strengthen strategic partnership and expressed confidence in the prospects of cooperation with the commodity exchange.
The creation of a regional exchange in Kazakhstan will ensure quality implementation of the joint initiative «One Belt, One Road» and leadership in the Central Asian region.
The head of Dalian Commodity Exchange talked about the work on the development of the Dalian Commodity Exchange brand and the introduction of new exchange instruments. With the assistance of China's main securities regulator, issues on further co-operation and mutual exchange of information will be worked out.
Following the meeting, the parties agreed to continue co-operation in the sphere of exchange trading and to make joint efforts to translate these agreements at the highest level into practice.
Next, Arman Shakkaliyev visited the Shanghai Futures Exchange. Shanghai Futures Exchange was formed after the merger of Shanghai Metal Exchange, Shanghai Grain and Oil Exchange and Shanghai Commodity Exchange. The exchange is ranked No. 1 among the world's leading metal futures exchanges by the Futures Industry Association, and No. 4 in «Agriculture futures trading».
During his visit to the commodity exchange, Director General Wang Fenghui familiarised the Minister with the trading floor, settlement and clearing operations, IT infrastructure and information services that ensure the functioning and implementation of new exchange instruments, including commodity derivatives.
Kazakhstan is becoming a promising centre of exchange liquidity. We have a task to create a strong commodity exchange in the Central Asian region. In this regard, we are interested in studying your experience. For the development of this industry, a Coordination Council has been set up where Chinese exchanges are invited as honourable members.
The head of the Chinese Commodity Exchange expressed willingness to visit Kazakhstan to sign a Memorandum of Understanding and actively cooperate with the Ministry of Trade and Integration. Also, to this end, bilateral meetings and special internships for exchange trade experts will be organised.
At the end of the meeting, the Minister of Trade and Integration expressed his gratitude to Wang Fenghai, for his friendly reception and significant contribution to the efficient operation of the derivatives market.
It should be reminded that by the Address of the Head of State Kasym-Jomart Tokayev to the people of Kazakhstan «Economic Course of Fair Kazakhstan» от 1 сентября 2023 года Президентом поставлена задача проработать вопрос создания сильной региональной товарно-сырьевой биржи.
Currently, the Ministry of Trade and Integration is actively working to strengthen its position in the field of commodity exchanges in the regional and global economic space in order to implement international exchange standards into national legislation.