83Received 29.11.2021. Revised 25.04.2022. Accepted 01.06.2022.
Acknowledgements. The study was carried out with the financial support of the Russian Foundation for Basic Research and CASS (project No. 20-511-93005).
Abstract. In recent years, Chinese capital has become a key object of Russia’s foreign investment policy in the Far East. Òhe author of the article conducts a comparative historical analysis of the effectiveness of state regulation of Chinese direct investments, their volume, geographical and sectoral structure in the Russian Far East (RFE). The first part of the article addresses to the process of the formation of Russian policy towards Chinese investments in the RFE, the evolution of its goals and means since the late 1980s until now. The author identifies four main periods in the genesis of Russian policy in this area: 1987–1998; 1999–2005; 2006–2011; 2012–present. The second part of the article examines the actual dynamics of Chinese direct investments in the RFE, the most important changes in their inflow and accumulation, the geographical and sectoral distribution. Comparison of the development trends of Russia’s investment policy and its results shows that the period in the regulation of Chinese investments in the RFE, which began in 2012, can be assessed as the most successful over the past three decades. Nevertheless, the volume of accumulated Chinese capital is not sufficient to replace the reduced budgetary investments in the macroregion and ensure its outstripping growth. The structure of Chinese investment supports the preservation of an economy based on the extraction and export of natural resources. The real dynamics of FDI from China does not correspond to the declared goals of the state policy for the development of the Far East.
Keywords: Russia, China, Russian Far East, investment policy, foreign direct investment, enterprises with Chinese investments
REFERENCES
1. Zuenko I., Ivanov S., Savchenko A. Chinese Investments in the Russian Far East. World Economy and International Relation, 2019, vol. 63, no. 11, pp. 105-113. (In Russ.) Available at: https://doi.org/10.20542/0131-2227-2019-63-11-105-113
2. Larin V. Russia–China Economic Relations in the 21st Century: Unrealized Potential or Predetermined Outcome? Chinese Journal of International Review, 2020, vol. 2, no. 1, 2050001. DOI: 10.1142/S2630531320500018
3. Luzyanin S.G. How to Work with China in our Far East? (On the Eve of the Eastern Economic Forum – 2021). Asia &Africa Today, 2021, no. 6, pp. 5-13. (In Russ.) DOI: 10.31857/S032150750015126-0
4. Moiseeva L.A., Vashchuk A.S. The History of Entrepreneurship in the Russian Far East in the Late XX – Early XXI Century. Vladivostok, Dal’nauka, 2006. 348 p. (In Russ.)
5. Vardomskii L.B. Russian Borderlands in the Context of Globalization. Moscow, LIBROKOM, 2009. 212 p. (In Russ.)
6. Larin A.G. Chinese Migrants in Russia. History and Modernity. Moscow, Vostochnaya kniga, 2009. 512 p. (In Russ.)
7. Ivanov S.A. The Program of Cooperation between the Eastern Regions of Russia and the Northeastern Regions of China: Political Significance and Economic Efficiency. Tamozhennaya politika Rossii na Dal’nem Vostoke, 2018, no. 1 (82), pp. 54-65. (In Russ.) DOI: 10.17238.ISSN1815-0683.2018.1.54
8. Putin V.V. Russia and the Changing World. Moscow daily news, 27.02.2012. (In Russ.)
9. Progunova L.V. Problems and Prospects of Participation of the Russian Far East in the Formation of the Economic Region of North-East Asia. Thesis Cand. (Econ.) Moscow, 1996. 171 p. (In Russ.)
10. Larin V.L., ed. North-East China at the Turn of XX–XXI Centuries. Vladivostok, Dal’nauka, 2005. 238 p. (In Russ.)
11. Larin V.L. In the Shadow of the Awakened Dragon: Russian-Chinese Relations at the Turn of the XX–XXI Centuries. Vladivostok, Dal’nauka, 2006. 424 p. (In Russ.)
12. Ryzhova N.P. Economic Integration of Border Regions. Khabarovsk, IEI DVO RAN, 2013. 352 p. (In Russ.)
13. Novopashina A. The Effect of the Border on Chinese Direct Investments: Evidence from Russian Border Regions. Eurasia Border Review, 2013, vol. 4, no. 2, pp. 37-55.
14. Zakharov A.N., Rusak N.A. Russia and China: From Energy Trade to Investment Cooperation. Neftegaz.RU, 2020, no. 6, pp. 72-75. (In Russ.)
15. Drobysheva I. Year of New Tasks. China is Implementing 59 Projects in the Far Eastern Federal District. Rossiiskaya gazeta, 11.02.2021. (In Russ.)
16. Izotov D.A. Economic Integration of Russia with the Asia-Pacific Countries: Problems and Prospects. Khabarovsk, IEI DVO RAN, 2020. 368 p. (In Russ.)
17. Ma Yutszyun’, Suslov D.V. New Aspects of Russian-Chinese Investment Cooperation in the Far East of Russia. Vlast’ i upravlenie na Vostoke Rossii, 2019, no. 4 (89), pp. 8-16. (In Russ.) DOI: 10.22394/1818-4049-2019-89-4-8-16
SOURCES
1. OECD Investment Policy Reviews: Russian Federation 2004. Progress and Reform Challenges. Available at: https://www.oecdilibrary.org/content/publication/9789264018518-en (accessed 03.09.2021).
2. Regions of Russia. Socio-economic Indicators. 2018. Moscow, Rosstat, 2018. 1162 p. (In Russ.)
3. Russian Statistical Yearbook. 1999. Moscow, Goskomstat of Russia, 1999. 621 p. (In Russ.)
4. Regions of Russia. Socio-economic Indicators. 2005. Moscow, Rosstat, 2006. 982 p. (In Russ.)
5. Regions of Russia. Socio-economic Indicators. 2007. Moscow, Rosstat, 2007. 991 p. (In Russ.)
6. 2008 Statistical Bulletin of China’s Outward Foreign Direct Investment. Beijing, MOFCOM, 2009. 89 p.
7. 2012 Statistical Bulletin of China’s Outward Foreign Direct Investment. Beijing, MOFCOM, 2013. 137 p.
8. 2019 Statistical Bulletin of China’s Outward Foreign Direct Investment. Beijing, MOFCOM, 2020. 167 p.
9. Received direct investment in Russia from abroad. Far Eastern Federal District. EMISS State Statistics. (In Russ.) Available at: https://www.fedstat.ru/indicator (accessed 12.10.2021).
10. Regions of Russia. Socio-economic Indicators. 2012. Moscow, Rosstat, 2012. 990 p. (In Russ.)
11. Direct Investments in the Russian Federation: Balances by Constituent Entities of the Russian Federation by Instruments and Partner Countries. (In Russ.) Available at: https://cbr.ru/vfs/statistics/credit_statistics/direct_investment/13-dir_inv.xlsx (accessed 01.09.2021).
12. Foreign Direct Investments Accumulated. Far Eastern Federal District. EMISS State Statistics. (In Russ.) Available at: https://www.fedstat.ru/indicator (accessed 12.09.2021).
Registered in System SCIENCE INDEX
No comments