INVESTMENT ACTIVITY OF THE PRC IN THE KYRGYZ REPUBLIC

The article discusses the investment infusion of China into the economy of Kyrgyzstan in 1992-2022. The independence of the countries of Central Asia in 1991 meant a fundamental change in the geopolitical environment for the PRC: small sovereign countries appeared in the Western part of China, internal and external courses and development prospects were connected with each other. The Chinese government was sure that this region would play an important role for them, especially they could act as a source of resources for the Chinese economy. In addition to the common border with the west of China, this region has overland communication routes with China, which contribute to maintaining very close trade and economic relations, Central Asia exports energy and natural resources, and the region is a market for Chinese investment and sales of material goods. China's investment activity has developed in Kyrgyzstan mainly in the mining industry, energy, promotion of infrastructure projects, construction of joint ventures and other sectors of the economy. The authors, analyzing the investment relations of the two countries, classified them into three stages, show their specific impact on bilateral relations, and also consider the impact of investment cooperation on partners, which has been developing rapidly since 2013 under the One Belt, One Road project. Investment relations between China and Kyrgyzstan are accompanied by both successes and contradictions. From here they face many problems, and in this regard, both sides must adjust their approaches to cooperation. The study as a whole is based on extensive factual material, the latest sources, including data from the National Statistical Committee of the Kyrgyz Republic, and legal documents of the two countries. The analysis shows that the development of investment relations is part of the strategy of China's foreign policy and foreign economic progress - the formation of stable states, including Kyrgyzstan, around its own borders, for which Beijing implements investment projects at the regional level. Also, the presence in the country of a large Uyghur diaspora, as well as the Muslim population of the Kyrgyz as a whole, requires China to make great efforts and various tools to establish cooperation and implement joint projects. In addition, Kyrgyzstan is one of the main channels for diversifying energy supplies to China. However, the fall in the pace of economic development on a global scale due to the pandemic, fluctuations in world prices for energy resources lead to the fact that Kyrgyzstan is also interested in cooperation with China. It is obvious that China's influence in the region as a whole and in Kyrgyzstan in particular will grow, and, consequently, investment cooperation between the two countries will also develop.