Study On Investment Risk Of Coal Industry In Countries Along "Belt And Road"

With the proposal of the "Belt and Road" initiative,the coal industry has ushered in new opportunities.More and more coal companies have joined the overseas investment team to invest in countries along the "Belt and Road",but overseas coal industry investment is not All smooth sailing,foreign-related investment faces more complex and changing external risk factors,and companies themselves often cannot control,which may directly lead to investment failure.Therefore,how to deal with the complex overseas coal industry risks of countries along the "Belt and Road" is a problem that needs to be considered.Only by identifying the various risks and changes in the coal industry investment in the host country can we better manage and control the risks and help investors avoid risks of overseas coal industry investment,reasonable choice of investment location.In order to effectively assess the coal industry investment risk,this paper analyzes the current status of China's coal industry investment in countries along the "Belt and Road",and constructs the evaluation system of 31 indicators in five dimensions of politics,society,economy,resources and environment with reference to relevant literature,first select the 2018 data of each indicator to evaluate the coal industry investment risk level of 16 countries along the "Belt and Road" based on entropy weight and fuzzy comprehensive evaluation method,and analyze the risk leading factors of countries with higher risk levels in each dimension,Then on this basis,we selected three time points of 2005,2010,and 2015 to calculate the relevant risk value,combined with the risk level of 2018 for comparison,and analyzed the evolution trend of the overall investment risk and various dimensions of the coal industry in each country.The volatility of risk is furtlier studied.The research results show that from 2005 to 2018,in addition to Venezuela,this paper studies the overall national coal industryinvestment risk is showing a downward trend,indicating that the investment environment of the coal industry in most of the invested countries is developing well.With the deepening of the "Belt and Road" initiative,Investment risk may continue to maintain a downward trend,but some countries' economic,resource,and environmental risks need to be vigilant;the evolution of investment risk in the coal industry in different countries is different,and Australia,Poland and other countries have maintained low risks,whether from the risk level or the relative risk volatility is beneficial to investment in the coal industry,Countries such as Kazakhstan and Indonesia maintain a relatively medium position,which is more suitable for investment in the long run.The investment risks of coal industries in Pakistan and Venezuela are always higher and less suitable,from the perspective of relative risk volatility,coal industry investment in Russia and other countries has potential,relevant investors should seize the opportunity,Turkey's relative risk deteriorates,the investment environment is unstable,and investment in such countries should be avoided as much as possible;coal in some countries industrial investment faces a variety of potentially high-risk factors.In the future,we should start from the two levels of government and enterprise,establish a dynamic evaluation system to clarify various risk levels,and take active countermeasures.