Hong Kong is stepping up efforts to court Central Asian partners, casting itself as a finance and services hub for Kazakhstan and Uzbekistan as the city looks beyond its traditional markets in the West and East Asia.

A large Hong Kong delegation led by Chief Executive John Lee arrived in Kazakhstan yesterday, beginning a tour of both countries in what officials say is a move to “tap the growth potential” of Central Asia and deepen Hong Kong’s role in the Belt and Road Initiative. 

The group, coordinated with the Hong Kong Trade Development Council, includes business representatives from finance, logistics and professional services, with a focus on infrastructure, green projects and technology.

Kazakhstan is already Hong Kong’s largest trading partner in Central Asia, while Uzbekistan has emerged as another key market. According to officials, Hong Kong’s exports to the region reached about US$313 million in 2025, with Kazakhstan and Uzbekistan accounting for more than half of the total.

Hong Kong is positioning itself as a capital‑raising and risk‑management centre for Central Asian companies seeking to tap global investors, as well as mainland Chinese firms expanding into the region. Recent milestones include a 2 billion yuan “dim sum” bond issued in Hong Kong by Kazakhstan’s Development Bank, reinforcing the city’s status as an offshore renminbi hub.

[See more: China’s industrial profits see strong growth despite external volatility]

Officials say there is scope to attract more Central Asian issuers and potential listings in sectors such as mining, energy and logistics, drawing on Hong Kong’s role as a commodities and trading centre. 

The city is also pitching its expertise in cross‑border financing, wealth management, legal and compliance services to support projects ranging from logistics corridors to digital infrastructure.

The government and trade bodies see Central Asia’s appeal to mainland capital as a key driver of Hong Kong’s strategy. As more Chinese state‑owned and private companies look to invest in transport, energy and digital projects there, Hong Kong aims to act as an intermediary, providing structuring, fundraising and advisory services.

Officials argue that deeper ties with Central Asia can help diversify Hong Kong’s external economy and create new channels for both mainland and international capital.