China's remanufacturing industry to hit 200b yuan by 2020

BEIJING — The gross market value of China's remanufacturing industry is expected to reach 200 billion yuan ($30 billion) by 2020, according to the Ministry of Industry and Information Technology (MIIT).

In the coming three years, key fields, including medical imaging facilities, heavy machinery and oil and gas production equipment, will be prioritized in development, said the MIIT in a high-end smart remanufacturing action plan.

The plan said the country will promote the use of green technology in remanufacturing, such as additive manufacturing, smart manufacturing and nondestructive testing.

By 2020, a series of breakthroughs shall be made in generic technology, while 50 standards should be published on management, technology, equipment and assessment.

The country will provide support for 100 enterprises covering different links in the high-end smart remanufacturing industry, according to the plan.

International exchange in this field will be encouraged, said the plan.