Xi Jinping proclaims ‘new era’ at China-Central Asia summit
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What contracts were agreed at the summit
The forum was also attended by representatives of Chinese and Central Asian businesses. The Chinese state investment corporation CITIC Group signed five commercial documents worth more than $1.6 billion with Kazakh companies to implement projects in the energy and petrochemical industries.
The China National Petroleum Corporation (CNPC) has agreed to invest in expanding the production capacity of the Shymkent refinery and increase the capacity of the Kazakhstan-China pipeline. China Nonferrous Metal Mining has expressed a desire to build a copper smelter in Kazakhstan with Kaz Minerals. Huawei wanted to take part in a joint project to digitalize the railway network in Kazakhstan.
Since 2005, the gross inflow of Chinese investment in Kazakhstan has reached $23.2 billion, making China the fourth largest investor in the republic’s economy after the Netherlands, the United States and Switzerland.
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