Tokayev pledges to deepen strategic partnership with China in Xinhua interview

September 4, 2026 at 08:49 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakh President Kassym-Jomart Tokayev said Kazakhstan is ready to consistently strengthen its eternal comprehensive strategic partnership with China in an interview with Xinhua. He named trade, transport and logistics, digital economy, and artificial intelligence as priorities. The two countries plan to develop smart customs and digital document flow along the Middle Corridor.

Key Facts

Kazakhstan will allocate 818 billion tenge to the operator of its first nuclear power plant over the next three years.
Nvidia announced the acquisition of Hugging Face for approximately $13 billion, and its shares rose 2% in US trading.
Chinese AI startup Moonshot filed a confidential IPO application in Hong Kong, aiming to raise $3 billion, according to Reuters sources.
From September 13, banks with a basic banking license in Kazakhstan will face limits of 500 billion tenge on total assets and 20 million tenge on savings deposits in national currency.
Finland's government supported the Interior Ministry's proposal to keep the border with Russia closed until 2028.

Nuclear Power Plant Funding

Kazakhstan will invest 818 billion tenge in the operator of its first nuclear power plant over the next three years. The funds will go to LLP 'Kazakhstan Atomic Electric Stations' in three tranches: 247.9 billion tenge in 2027, 303.1 billion in 2028, and 267.3 billion in 2029. An additional 2.8 billion tenge per year will cover the administrative costs of the Atomic Energy Agency, and 101.2 billion tenge over three years will fund the program 'Development of Atomic and Energy Projects'. The agency's total budget will reach 927.9 billion tenge.

Tech Sector Deals

Nvidia announced the acquisition of Hugging Face, one of the largest AI repositories, for about $13 billion. Nvidia shares rose 2% in US trading, increasing the chipmaker's market capitalization by $100 billion. Chinese AI startup Moonshot filed a confidential IPO application in Hong Kong, aiming to raise $3 billion, according to Reuters sources. Moonshot is considered one of the leaders in China's AI industry, though its valuation is somewhat lower than competitors.

Banking License Limits

From September 13, banks with a basic banking license in Kazakhstan will face limits on total assets and individual deposits. Their total assets must not exceed 500 billion tenge. The maximum savings deposit in national currency will be 20 million tenge, other tenge deposits 10 million tenge, and foreign currency deposits 5 million tenge. No banks currently hold this license in Kazakhstan; it is a new simplified license type for new banks, designed for depositor safety.