On Friday, 1,080 used automotive transmission control modules arrived at the Chongqing Lianglu Guoyuan Port Comprehensive Bonded Zone, marking the official landing of China's first bonded remanufacturing business.

"This bonded remanufacturing business helps us connect the international supply chain and industrial chain, achieving efficient procurement of raw materials and global layout of remanufactured products, effectively reducing operating costs and enhancing the international competitiveness of our products," said Ruan Xijun, director of Chongqing Yuxiang Intelligent Technology, which imported the modules.

The company is estimated to remanufacture approximately 250,000 automotive transmissions, engines and their components under bond annually, achieving a trade volume of nearly 1 billion yuan ($138.2 million).