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China-Kazakhstan capacity cooperation on fast track

Updated: May 12,2017 7:15 PM     Xinhua

BEIJING — Industrial capacity cooperation between China and Kazakhstan has grown rapidly in the past few years and yielded rich results under the Belt and Road Initiative, an official said on May 12.

The two governments have signed a framework agreement for capacity cooperation and held 12 dialogues on the matter, Ning Jizhe, deputy head of the National Development and Reform Commission, said at a press conference.

China and Kazakhstan have signed major cooperation projects worth $27 billion, set up a 2-billion-dollar bilateral capacity cooperation fund and earmarked loans of $15 billion for the same purpose, Ning said.

Currently, 34 projects, including copper mining, electrolytic aluminum and cement plants, have been completed and put into production in Kazakhstan. Another 43 projects are under construction.

These projects will “increase Kazakhstan’s industrial development, create jobs and encourage local development,” he added.

The two countries will deepen cooperation in industrial capacity and investment by jointly planning and completing major projects, Ning said.

From 2013 to 2016, Chinese companies invested more than $60 billion in countries along the Belt and Road. China has signed capacity cooperation documents with more than 30 countries.