Li Jinchang, Party chief of ZUFE, addresses the unveiling ceremony of the institute for Kazakhstan studies in Hangzhou, Zhejiang province on Oct 15. [Photo/zjol.com.cn]

The establishment of China's first institute for studies of the Kazakhstan economy and social development was announced at the Zhejiang University of Finance & Economics (ZUFE) in Hangzhou, Zhejiang province on Oct 15.

The institute is expected to serve as an academic platform for Chinese scholars to delve into the overall development of Kazakhstan and conduct further research into the country's economy, finance, law, land and cities and linguistic culture.

"Kazakhstan is a pivotal country involved in China's Belt and Road Initiative and the setup of the institute will be conducive to the better understanding of each other's peoples," said Li Zhanrong, vice president of ZUFE.

Meanwhile, Li also expressed his hope that the institute will further promote the university's international development.

Kyraubayev Zhoshykhan, Kazakhstan's consul general in Shanghai, explained that they chose ZUFE as their partner because of the profound friendship they've established since the G20 Hangzhou Summit and the university's good reputation. He hoped that on the back of the founding of the new institute, the two sides can deepen communication and cooperation, and make more contributions to the strengthening of China-Kazakhstan ties.

ZUFE has forged partnerships with around 120 universities and colleges in 31 countries and regions, including 11 countries involved in the Belt and Road Initiative. Currently, there are over 170 international students from Kazakhstan at the university.

Officials from China and Kazakhstan jointly unveil the nameplate of the new institute in Hangzhou, Zhejiang province on Oct 15. [Photo/zjol.com.cn]