Kazakhstan Plans to Sell Bonds in Yuan to Expand China Ties

Kazakhstan plans to raise as much as $2 billion in renminbi debt in the next three years to fund growing trade and investment ties with China, the deputy prime minister in charge of the economy said.

State-owned companies in the central Asian country have been at the forefront of increased yuan-based issuance across emerging markets. The sale of dim sum or panda bonds by the sovereign would be a first in yuan for the government in Astana itself. Of the planned issuance, the nation plans to sell up to 2 billion yuan ($281 million) this year, Deputy Prime Minister Serik Zhumangarin, who also serves as economy minister, said in an interview.