Independent student research
Kazakhstan, its neighbours and China, in numbers
Research on companies and trade in Central Asia and China, based on annual reports and official statistics.
Latest researchAbout the project$34.1 bn
Kazakhstan–China trade turnover, 2025
Bureau of National Statistics of Kazakhstan
23.7%
China's share of Kazakhstan's foreign trade, 2025
Bureau of National Statistics of Kazakhstan
26.4%
Kaspi.kz net margin after buying Hepsiburada, 2025
Kaspi.kz annual report (Form 20-F)
Latest research
Companies
Bigger but Less Profitable: Kaspi.kz after the Hepsiburada Acquisition
In January 2025 Kaspi.kz bought a controlling stake in Hepsiburada, a leading Turkish online marketplace.
Trade
Raw Materials Out, Machines In: Kazakhstan's Trade with China, 2020–2025
Trade between Kazakhstan and China more than doubled, from $15.4 billion to $34.1 billion.