Standard Chartered today announced that it has signed Memorandums of Understanding (“MOU”) with Development Bank of Kazakhstan Joint Stock Company (DBK) and Hangzhou CIEC Group Co. Limited in Kazakhstan.

The agreements aim to strengthen collaboration between the Bank and its partners, leveraging the Hong Kong-Kazakhstan corridor to connect capital and support financing and treasury needs underpinned by the Bank’s RMB capabilities, to unlock cross-border opportunities.

The MOUs were signed by Mary Huen, CEO, Hong Kong and Greater China & North Asia,

Standard Chartered, and the senior leaders of the two corporates, during a business delegation to Central Asia led by John Lee, Chief Executive of the Hong Kong Special Administration Region (HKSAR), and organised by the Hong Kong Trade Development Council (HKTDC). The visit marked the largest-ever overseas delegation in the current government term, comprising more than 70 business leaders from Hong Kong and the Chinese mainland, spanning finance, professional services, logistics, innovation and technology, energy and manufacturing.

Mary Huen said:

“Standard Chartered is honoured to be part of this record-breaking business delegation to Central Asia, the heart of the Belt and Road Initiative. As a cross-border bank with a strong network that bridges East and West, and covers 75% of Belt and Road markets, we are proud to be a connector in deepening hub-to-hub collaboration between Hong Kong and Central Asia – particularly in Kazakhstan, where we serve a broad base of clients spanning sovereigns and state-owned enterprises. Our new partnerships with DBK and Hangzhou CIEC underscore our commitment to supporting enterprises as they expand globally. Leveraging Hong Kong’s position as a super-connector and the world’s largest offshore RMB hub, we are well placed to help clients diversify, connect capital and support sustainable cross-border growth.”

Marat Yelibayev, Chairman of the Management Board of DBK, said:

“This partnership opens up new strategic horizons for strengthening the Hong Kong-Kazakhstan corridor. As Kazakhstan’s flagship development finance institution, DBK is committed to leveraging advanced international financial solutions to drive economic growth. With Standard Chartered’s global expertise, particularly in RMB capabilities, we see immense opportunities for collaboration, including the potential issuance of Panda and Dim Sum bonds. I am confident that the partnership will provide a powerful impetus for sustainable growth in cross-border business and will further unlock the region’s investment potential.”

Jiang Lijing, Group Vice President, Hangzhou CIEC, said:

“Standard Chartered has been a trusted partner in Hangzhou CIEC’s globalisation journey, providing comprehensive financial services — including global treasury, financing and settlement — alongside strategic advisory and risk management services for our expansion into emerging markets. With its continued support, we are confident in further strengthening our presence in Central Asia.”

DBK is the flagship development finance institution under the Government of Kazakhstan, while Hangzhou CIEC is a leading global commodity trading service provider and a state-owned company affiliated with Hangzhou Industrial Investment Group, with overseas offices across Asia, Africa, Europe, North America and South America.

Under the agreements, Standard Chartered will leverage its comprehensive suite of financial solutions to facilitate the growth and expansion of both corporates within the Hong Kong-Central Asia corridor, covering areas including cash management, financing, treasury services and sustainable finance advisory. This cooperation is expected to further strengthen economic ties between Hong Kong and Kazakhstan.