Study On China's Investment Risks In The Energy Sectors Of Five Central Asian Countries

With the continuous advancement of China's "Belt and Road" initiative,China's links with countries along the "Belt and Road" have been further strengthened.Among them,the five Central Asian countries are rich in energy reserves,and Kazakhstan's oil and Turkmenistan's natural gas reserves are ranked respectively The seventh and third places,and the local supply and demand complement each other in China,are China's key countries to strengthen foreign cooperation in energy investment.However,the economic foundation in Central Asia is weak and social fluctuations are large.In addition,the newly established political system after the independence of Central Asian countries is not perfect,and there is great instability in the political situation.While ushering in new opportunities in the energy sector of Central Asia,China will inevitably face huge challenges.Therefore,it is of great significance to identify and evaluate investment risks in the energy field of Central Asian countries.This paper uses the prospect analysis method and the risk decomposition structure method to link the actual situation of the five Central Asian countries to identify the risks of China's investment in the energy fields of the five Central Asian countries and divide them into political risks,economic risks,social risks and resources.Four categories of risk,constructing an investment risk evaluation index system for the energy sector in Central Asia.On this basis,the entropy value method is selected to determine the index weight of each risk,and the gray correlation analysis method is used to comprehensively score each risk,so as to establish the comprehensive entropy gray correlation degree of China's investment risk in the energy field of the five Central Asian countries.Evaluation model.This article first uses data from 2008-2017 Central Asian countries to analyze the corresponding indicators of the five countries.The results show that Kazakhstan has higher economic risks and social risks,Kyrgyzstan has higher economic risks and resource risks,and Turkmenistan Social risks are higher,Tajikistan's resource risks are higher,Uzbekistan's economic risks are higher,and resource risks are also higher.Finally,in order to make the conclusion more accurate,the data of each country in 2017 were selected again for comparison with each other.The results show that overall,China has the highest investment risk in the energy sector of Tajikistan,followed by Uzbekistan,and Turkmenistan and Kyrgyzstan are ranked as the risk Third and fourth,Kazakhstan has relatively low investment risksFinally,in light of the different situations of various countries in this article,it is proposed to establish a comprehensive energy investment mechanism,cooperate with the local government to establish financial support institutions,and strengthen energy downstream industry investment cooperation,improve the local talent training mechanism and other related measures to reduce local environmental changes on China's energy the impact of investment efficiency.