According to a report released Tuesday by the Eurasian Development Bank and the Russian Academy of Sciences' Institute of World Economy and International Relations, China's direct foreign investment (FDI) in Russia, Belarus and Kazakhstan doubled since 2008.
Kazakhstan has been the recipient for the largest portion of China's investments to the three countries, equaling $22 billion or 91.5 percent of the total FDI. Between 2009 and 2013 FDI to Russia, Belarus and Kazakhstan amounted to $24.67 billion.
In the report researchers noted China's impressive FDI presence within the countries involved with the Eurasian Economic Union.
A large portion of Chinese investments in Kazakhstan are related to oil and gas extraction, although the report states that the investment is also a crucial point in the expansion into central Asia. China has plans to implement the New Silk Road Economic Belt.
In the past, relations between China, Belarus and Russia have largely been based on lending. While Chinese investments in Russia and Belarus pale in comparison to Kazakhstan investments, they are more diversified in Russia and Belarus.