Under China’s ‘Belt and Road’ development strategy (Silk Road Economic Belt and the 21st-century Maritime Silk Road, to give its full name), excess production capacity within the country is being exported to locations within Eurasia, Asia and parts of Africa. An advantage of this policy for tyre makers is that setting up production facilities outside of China offers a means of avoiding the tariffs applied to Chinese-made tyres in numerous markets. Shanghai Huayi (Group) Company, majority owner of Shanghai Huayi Group Corporation Limited (the entity known until recently as Double Coin Holdings), signed a deal in May that will see it supply the North American and Southeast Asian markets with tyres produced at a brand new factory in Thailand.