Research On The Risks Of Chinese Enterprises' Infrastructure Investment In Central And Eastern Europe

With the promotion of the “Belt and Road” initiative and the development of the ChinaCEE leaders' meeting mechanism,the complementary nature of China-CEE infrastructure cooperation has made Chinese enterprises invest more and more in CEE infrastructure.However,overseas investment is accompanied by various risks.How to identify,alert and effectively prevent investment risks has always been an important part of an enterprise's overseas investment process,and may even directly or indirectly lead to investment failure.In recent years,China 's investment in infrastructure in Central and Eastern Europe has experienced project delays and losses.For example,China Overseas Consortium's investment in the construction of the Polish A2 highway project was suspended due to project losses,and its reputation was severely damaged.Another example is the Hungary-Serbia Railway project that was originally scheduled to be completed in two years but has been delayed.The potential risks in these projects are important for Chinese infrastructure companies to invest in the infrastructure of Central and Eastern European countries.It is of great theoretical and practical significance to identify and evaluate the risks of infrastructure investment in Central and Eastern Europe.In recent years,empirical models have been increasingly used in investment risk assessment.The empirical results have the characteristics of directly and scientifically reflecting the degree of risk,and have a more significant effect on risk assessment.The entropy weight method can objectively reflect the weight of risk factors,the gray correlation analysis method can determine the size and order by measuring the degree of correlation between the factors,and comprehensively evaluate the risk of infrastructure investment in Central and Eastern Europe by combining the two evaluation methods.This article is divided into five chapters.The first part is an introduction,which mainly introduces the research background and significance,as well as a review of domestic and foreign literature,research content,research methods,innovation points and deficiencies.The second part mainly summarizes and analyzes the status quo of infrastructure development in Central and Eastern European countries,and the status and capabilities of China's infrastructure investment in Central and Eastern European countries,showing the opportunities and prospects for China to invest in infrastructure in Central and Eastern Europe.Chapter 3 selects typical cases of Chinese investment in Central and Eastern European infrastructure,analyzes the main risks of Chinese investment in Central and Eastern European infrastructure through case studies,and summarizes possible risk factors in all aspects.The fourth chapter constructs the index system and collects the index data,which mainly includes the principles of index establishment,the initial construction of the index system,the selection of the index,and the data source of the index.Then build a model for empirical analysis and calculation.Use the entropy weight method to assign weights to the indicators to obtain the main risks affecting infrastructure investment in Central and Eastern Europe,to facilitate the identification and early warning of investment risks by Chinese companies,and then use the gray correlation analysis method to sort the risks of investment host countries and select the investment location for Chinese companies for reference.Chapter 5 proposes targeted risk prevention measures based on the main risks derived from the results of empirical analysis,and provides a reference for Chinese infrastructure companies to invest in Central and Eastern Europe.