III meeting of the Kazakh-Chinese Business Council (KCBC) was held in Beijing on December 13, 2015.

The event was attended by Prime Minister of Kazakhstan Karim Massimov. This year, about 350 representatives of companies and state institutions from China and Kazakhstan attended the meeting.

Possibilities for further development of business cooperation between Kazakhstan and China were discussed at the plenary session of KCBC and three panel sessions - «The privatization program of the Fund», «green economy» - a new vector for sustainable development» and «infrastructure, innovation, logistics”.

In his speech, the co-chairman of the Council, CEO of «Samruk-Kazyna» JSC Umirzak Shukeyev emphasized that within two years the Kazakh-Chinese Business Council has proven to be an effective platform for strengthening business relations. «In a short period KCBC gained good momentum. Kazakh and Chinese business circles interested in trust relationship. We have a lot in common,» Mr. Shukeyev noted.

Following the meeting «Samruk-Kazyna» group of companies has concluded a number of agreements in the sphere of oil and gas, telecommunications and energy worth USD 4 billion. Thus, JSC «NC «KazMunayGas» and Sinopec corporation have signed memorandum on cooperation in the exploration and production of oil, petrochemicals, renewable energy. In turn, JSC «NAC “Kazatomprom» and China General Nuclear Power Corporation plan to build a plant for the production of fuel assemblies in Kazakhstan and jointly develop uranium deposits. «Kazakhtelecom» JSC has signed a memorandum with China Telecom Global Limited on coverage of fiber-optic communication lines in rural settlements of Kazakhstan.

As you know, KCBC was created on the  instruction of the leaders of the two countries, which was given during the visit of Nursultan Nazarbayev to China in April 2013. The purpose of KCBC is to further encourage trade and economic cooperation, promotion and development of cooperation in various sectors of the economy.