Chinese-backed Altyn Bank says three Kazakh clients are exploring dim sum bond issuance in Hong Kong to fund regional infrastructure projects.
Murat Baisynov, chairman of the Almaty-headquartered lender, told the South China Morning Post that the clients are currently exploring the issuance, a trend he expects to continue. Hong Kong remains the world’s largest offshore renminbi liquidity hub, Baisynov said, bringing together the largest network of investors, banks, and infrastructure for issuing renminbi debt instruments. This opens up expanded opportunities for Central Asia to attract long-term capital for infrastructure, transport, energy and sustainable development projects. Altyn Bank, controlled by China CITIC Bank Corporation since 2018 after it acquired a 50.1 per cent stake from Halyk Bank, aims to establish strategic partnerships with investment firms and institutional investors in Hong Kong to unlock new financing channels for the region.
