China-Mongolia trade has ‘room for improvement’, with investment potential in tech, finance
- Batshugar Enkhbayar, the son of Mongolia’s ex-president, says China can help diversify his country’s economy away from mining
- The Mongolian politician is keen to see more Chinese capital flow into the country’s burgeoning tech scene and finance industry
Batshugar Enkhbayar has big ambitions for his homeland of Mongolia.
The US-educated legislator, who sits on two parliamentary committees, has helped pass laws encouraging the use of cryptocurrency and the protection of personal data. He is inspired that many in the electoral democracy of 3.4 million people already make cashless payments.
Though the country’s economy is best known for its mineral riches, such as coal, copper, gold and nickel, Enkhbayar, a former central bank deputy governor, wants to change that.
The son of Mongolian ex-president Nambaryn Enkhbayar – whose time in office was tarnished by corruption allegations – is pushing to diversify the economy away from extractive industries, which were shaken in 2015 when commodity prices slumped.
I’d like to see China invest more in finance and more into infrastructure
To do so, Enkhbayar is looking to China for investment in other sectors beyond mining, particularly into the technology sector.
