A springboard for growth
A look at how the Shanghai FTZ has over the past decade been a crucial engine driving innovation and economic development in China, Shi Jing reports.
A remanufactured engine for an articulated truck imported by Volvo Construction Equipment (China) arrived in Pudong New Area of Shanghai and completed declaration procedures at customs on Sept 1.
This marked the first time a remanufactured engine was imported into China.
This feat was made possible by a State Council measure released in late June, which stipulated that pilot programs for importing remanufactured products will be carried out in the FTZs or free ports.
Prior to the release of the new policy, used road equipment and engines were defined as old mechanical and electrical equipment and were banned from being imported into China.
The imported engine was remanufactured by Volvo CE's factory in Sweden. Compared to a new product of the same kind, the engine represents cost savings of 50 percent and uses 60 percent less energy. The amount of materials used and emissions are also 70 and 80 percent lesser respectively.
Remanufacturing is the process in which a previously sold, leased, used or worn product is turned into a newly produced one with a quality that is equivalent to or better than the previous version.
