The National Image Management Effect Of China’s Direct Investment In Central Asian Countries Under The "Belt And Road" Initiative

The five Central Asian countries are important neighbors of China and play a crucial role in China’s strategy of opening up to the west.Central Asian countries are of primary strategic significance for China’s economic development and national security.Since the proposal of the "Belt and Road" initiative,Central Asian countries have been proactively integrated into its construction,and both sides have achieved significant results in building the "Belt and Road" demonstration zone.How will China’s increasing investment in Central Asian countries affect its people’s attitude toward China?On the tenth anniversary of the Belt and Road Initiative,it is important to understand how Chinese FDI in Central Asia will contribute to the development of the host countries and the perception of China’s national image.It also helps us understand and assess the positive impact of the "Belt and Road" initiative in regional economic cooperation and global governance,and is of inspirational significance for promoting high-level opening up in the new era.Based on micro-survey data,this study examines how China’s outward foreign direct investment(FDI)shapes people’s positive perception of China in the host countries.Using the Probit linear model with fixed country and time effects,this paper finds that:(1)FDI from China exerts a negative effect on a perceived image in the short run,but has a significant positive effect in the long run.(2)Central Asian people’s positive perceptions of China’s influence are affected by the number of Chinese FDI in Central Asia.The positive perception in central Asian countries about China’s impact on the local area is affected non-monotonically by China’s OFDI.Only when the quantity of FDI keeps within an appropriate range can the positive perception of influence stay at a high level.(3)Central Asian people’s positive perception of China’s influence is also closely related to factors such as personal experience,education level,and income level.Urban residents with higher education and income levels are more likely to have positive perceptions,while people’s positive perceptions of China are also influenced by their age.Moreover,the mediating effect analysis reveals that FDI from China contributes to people’s higher evaluation of China’s influence by enhancing their subjective perception of economic improvement.The findings of this paper provide useful insights for the better implementation of the "Belt and Road" initiative and the realization of a win-win situation of economic development and national image enhancement.