The Belt and Road Initiative (BRI), first proposed by Chinese President Xi Jinping during his visit to Kazakhstan in 2013, has evolved into a truly global initiative involving more than 70 countries. The BRI focuses on strengthening connectivity, accelerating infrastructure development and fostering sustainable economic growth across participating regions.
Kazakhstan plays a pivotal role in the BRI, with two of the six key economic corridors passing through the country. The initiative creates significant opportunities for Kazakhstan and its partners to modernize infrastructure, enhance regional and international connectivity, expand industrial capacity and increase trade flows - ultimately supporting long-term economic development.
AIX is the first stock exchange in Central Asia to provide direct access to global investors and to operate as a regional financing hub for Belt and Road projects. Through market-oriented, diversified, localized and sustainable financing solutions, AIX supports the implementation of BRI by connecting issuers with international capital markets.
The AIX Belt and Road Market Segment is designed to deliver tailored capital market solutions for BRI-related projects, while also serving as an effective exit platform to attract private equity and long-term institutional investment. The Chinese Yuan (RMB) is the preferred currency of the segment, within which a wide range of instruments, including equities, bonds, asset-backed securities and depositary receipts, can be listed and traded.
The AIX Belt and Road Market special segment supports and further develops relationships with key strategic partners and market participants, including some of China’s largest brokers and investment banks, such as:
On August 28, 2025, Jiaxin International Resources Investment Limited was admitted to listing and trading on AIX. The company, which operates the Boguty tungsten mine in Kazakhstan, the world’s fourth-largest tungsten deposit, completed a simultaneous IPO on AIX and the Hong Kong Stock Exchange (HKEX).
The IPO price was set at CNY 9.93 per share, and total demand on global markets exceeded USD 34 billion, more than 220 times the targeted amount. This marked the first CNY-denominated IPO in Central Asia and the first IPO on the AIX Belt and Road Market segment, highlighting AIX’s growing role as a platform for international capital and BRI projects.
On October 31, 2025, AIX successfully listed KazMunayGas’ (KMG) first Dim Sum Eurobond, denominated in CNH, simultaneously on AIX and the Hong Kong Stock Exchange (HKEX). The bonds, worth CNH 1.25 billion with a 2.950% coupon and 3.150% yield, were issued under the CNH 10 billion Medium Term Note Programme, marking KMG’s debut in Dim Sum bonds and opening access to international investors across Asia.
On March 20, 2020, China Construction Bank, acting through the CCB Astana Branch, dual listed its RMB-denominated bonds on AIX and HKEX. This issuance marked both the first RMB-denominated bond listed on AIX and the first RMB product on the AIX Belt and Road Market.
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 RMB funds raised were used by the CCB Astana Branch to support BRI-related infrastructure projects in Kazakhstan.
AIX is evolving as a regional financial hub and a key platform for BRI projects. Our shareholders, including the Shanghai Stock Exchange (SSE) and the Silk Road Fund (SRF), contribute their expertise and support the development of new products and financial instruments to further enhance the Exchange.
To expand collaboration, AIX has signed Memorandums of Understanding with leading Chinese financial institutions, including banks, brokers, investment firms, and credit rating agencies. These agreements facilitate the introduction of new RMB-denominated products, attract international capital, and support infrastructure and industrial projects in Kazakhstan and Central Asia.