This Week’s China Plus – Wednesday, June 2

June 2, 2021 Posted by China Briefing Reading Time: 2 minutes

HEADLINES: Adopting a China+1 Strategy in ASEAN / Philippines Liberalizes Retail Trade / India ACC Battery Storage Production Incentives / Eurasian Economic Union Plans More Free Trade Agreements / Russian Trade and Investment in Africa

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Adopting a China+1 Strategy in ASEAN: Diversifying Supply Chains to Minimize Risks

We highlight the main strengths of five major ASEAN economies – Indonesia, Malaysia, the Philippines, Thailand, and Vietnam – that have emerged as attractive alternative production hubs for international investors.

The Philippines Amends Retail Trade Liberalization Act to Attract Foreign Investment

These measures are aimed at attracting greater foreign investment in the retail sector, which before COVID accounted for 23 percent of the total services industry with a total gross value added of US$ 20 billion.

India’s PLI Scheme for ACC Battery Storage Manufacturing

An outlay of US$2.49 billion has been earmarked by the Indian government to the battery production incentive scheme, which is intended to establish manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC and five GWh of Niche ACC capacity.

Eurasian Economic Union Plans for More Free Trade Agreements

Longer-term benefits – including technology transfer, improved domestic productivity, and a huge China export market that the US and EU are both stepping away could be the key to a long overdue Eurasian boom.

Opportunities for Russian Trade and Investment in Africa

Numerous African countries have expressed interest in Free Trade Agreements with Russia and the Eurasian Economic Union. Alisa Andreevna Prokhorova, of the Russian Export Centre offers in-depth information and statistics about Russia’s trade with Africa.

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