French multinational Schneider Electric on Tuesday launched the second phase of its Jinshan Innovation Laboratory Park project in Shanghai, according to Xinhua News Agency. Covering an area of approximately 14,000 square metres, the park includes seven types of laboratories staffed by hundreds of research and development (RandD) personnel. With the completion of the second phase of the park, the total laboratory area has expanded by 40 percent. The upgraded park will accelerate Schneider Electric's response in terms of RandD and testing, shorten its RandD cycle for new products, and enhance its ability to respond to new market demand, said Ren Jing, the company's senior vice president and head of its low voltage energy management business in China. Schneider Electric's innovation and experimentation demonstration centre for a new type of power system was also unveiled at the park on Tuesday, and will be tasked with providing technical support for the accelerated development of a new type of power system. Source: Emirates News Agency