Yes, but with a maximum stay per entry of 60 days.
Cool - thanks for the info!
After doing my last 6 visits to Shanghai using 72/144 hour TWOVs, I'm starting to think spending $140 for a visa would be a better approach going forward for me, as long as it's good for 10 years. Using TWOVs works, but the process at PVG has been both time consuming and annoying. It also would avoid having to explain TWOVs to some airline check-in agents and/or wait for them to figure out how to cover their rears with notes in the PNR.