China's Ministry of Industry and Information Technology (MIIT) announced the second remanufacturing catalogue which approves 35 kinds of remanufacturing products from 6 companies that comply with requirements.
The six companies are Sany Heavy Industry (600031.SH), Caterpillar (Shanghai) Co., Ltd, Wuhan Sevalo Machinery Co., Shanghai BaoSteel Equipment Maintenance Co., Anhui Wannan Electric Machine Co., and Sankaku (Xiamen) Auto Parts Co.
China's remanufacturing industry is speeding up on development due to the country's initiative in energy conservation and emission reduction, and these companies are likely to get support in areas such as credit support and preferential tax policies, noted an industry expert.
It is noted that the MIIT released the first batch of 8 qualified remanufacturing firms in August, 2011.
It is estimated that China's remanufacturing related sectors are likely to produce an output value up to 190 billion yuan by 2015, which posts great opportunity for companies that have remanufacturing technologies, auto parts manufacturers that have matching capabilities as well as recycling and distribution channels.
Currently, the country's remanufacturing companies mainly focus on vehicle engines, gear boxes, steering gear and electric generators.
