Belt and Road


The key differentiator to leverage the Belt and Road Initiative (BRI)

The Belt and Road Initiative (“BRI”), which was first proposed by Chinese President Xi Jinping during a visit to Kazakhstan in 2013, now involves over 70 countries, and has turned into a global initiative focusing on connectivity and infrastructure development.

Kazakhstan’s role in the BRI is key as two out of the six economic corridors pass through the country. The BRI also provides excellent opportunities to both Kazakhstan and other participating countries to develop infrastructure, improve connectivity, increase manufacturing capacity and international trade volume, ultimately stimulating the overall development of their economies.

AIX is the first stock exchange in Central Asia to provide access to global investors, as well as the regional financing hub by providing market-oriented, diversified, localized and sustainable financing solutions to support the BRI. The AIX Belt and Road Market Segment aims to provide capital market solutions for BRI projects, additionally, as an ideal exit platform to attract more private equity investments to BRI projects. The Chinese Yuan or RMB is the preferred currency for the AIX Belt and Road Market, whose common shares, bonds, asset-backed securities and depositary receipts can be listed and traded.

The AIX Belt and Road Market special segment supports and further develops relations with key strategic partners and market players, including some of the largest brokers and investment banks in China, such as:

  • The Shanghai Stock Exchange
  • Silk Road Fund
  • China Overseas Development Association
  • China Development Bank
  • China Construction Bank
  • Bank of China
  • Industrial and Commercial Bank of China
  • Altyn Bank (Subsidiary of China Citic Bank)
  • China Chengxin International Credit Rating Co.
  • Deheng Law Offices
  • Zhonglun W&D Law Firm
  • PwC Kazakhstan
  • China International Capital Corporation HK Securities
  • Shenwan Hongyuan HK Securities
  • CITIC Securities
  • The China Innovation Finance Institute (supported by Chengdu, Sichuan Province Government)

First RMB-denominated bonds in Kazakhstan

On March 20, 2020, China Construction Bank, acting through the CCB Astana Branch, dual listed its RMB-denominated bonds on the AIX and Hong Kong Stock Exchange. As well as being the AIX’s first RMB bond, it was also the AIX Belt and Road Market’s first RMB product. The RMB bonds, worth 1 billion CNY (about 63 bln KZT at the NBK exchange rate for the listing date), with a 2.95% coupon rate, and due to mature in two years, were purchased by institutional investors from China. The CCB Astana Branch used the RMB funds raised to support BRI and infrastructure projects in Kazakhstan.

Exchange Traded Notes linked to China Equities were listed on the AIX on June 29, 2022. iX China Equity BR Exchange Traded Notes with shares in iShares MSCI China A ETF (“CNYA”), a major ETF providing exposure to equity markets in China, have been listed on the AIX as an AIX Belt and Road Market RMB product.

Please email the AIX Belt and Road Market Department at [email protected] for additional information!