Almaty and Shanghai Forge $2.7 Billion in Deals at Major Business Forum

The cities of Almaty and Shanghai have agreed to implement joint investment projects worth over $2.7 billion. The agreements were signed during a large-scale business forum held in Kazakhstan's southern capital, aimed at strengthening trade, economic, and investment ties between the two major metropolises.

The forum brought together representatives from government bodies, the business community, and industry experts, creating an open platform for discussing new avenues of cooperation. The Chinese business delegation was led by Shanghai Mayor Gong Zheng.

Welcoming the participants, Almaty Akim (Mayor) Darkhan Satybaldy emphasized the historical significance of the meeting, marking a new stage in the development of sister-city relations. He noted that Kazakh-Chinese relations are experiencing a "golden age," with major cities playing a special role as centers for attracting investment and business activity.

"Almaty generates one-fifth of Kazakhstan's GDP, attracts over 40 percent of foreign investment, and concentrates most of the financial sector," Satybaldy stated. "Shanghai, as one of the world's leading financial centers, sets the highest development standards. The partnership between our two megacities has significant potential for further strengthening in several priority areas."

The Akim highlighted that Almaty remains a key hub for Chinese investment, hosting about 6,000 companies with participation from China and achieving bilateral trade exceeding $9.5 billion.

Satybaldy outlined several promising sectors for collaboration. These include expanding industrial zones and signing new agreements in industry and high technology. Plans are underway to create a full-fledged Almaty AI Park and develop a network of data centers.

Significant prospects also exist in tourism, with the imminent launch of the large-scale Almaty Mountain Cluster project. It is set to become Central Asia's largest year-round tourist destination fully compliant with international standards for quality, service, and environmental sustainability.

"We are carefully studying Shanghai's experience in integrated territorial development and implementing modern transport solutions," Satybaldy added. "Almaty is interested in attracting Shanghai construction companies, architectural bureaus, and engineering organizations to implement major projects in our city."

In turn, Shanghai Mayor Gong Zheng stressed that as their countries' largest economic centers, Almaty and Shanghai play a key role in developing bilateral ties. The cities officially became sister cities in 2025; direct flights were opened; and cooperation in energy, technology, and humanitarian exchanges received new momentum.

"Shanghai plans to expand interaction with Almaty in finance, mechanical engineering, logistics, and 'green' energy while supporting Chinese companies entering the Kazakh market," Gong Zheng said. "We intend to strengthen cooperation in innovation and high technology as key drivers for future growth."

A special focus at the forum was placed on its B2B platform—a key element of the business program that enabled practical interaction between companies.

Direct negotiations were held between Kazakhstani and Chinese enterprises during dedicated sessions. Dozens of companies participated from both sides across various sectors including finance (Bank of China), automotive (SAIC Motor), construction (Shanghai Construction Group), logistics (YTO Express), medical technology (ORG Technology), manufacturing (ZPEC), energy equipment (Shanghai Dianeng Electric), mining equipment (Shanghai VOSTOSUN), pump manufacturing (Shanghai Kaiquan Pump), elevator production (Xizi Elevator), agriculture (Yusheng Group), as well as representatives from medical and pharmaceutical sectors.