China will expand the use of robots in industry22.08.2023 | 17:16 |
China intends to actively develop robotics and introduce robots into ten sectors of the national economy by 2025, according to the South China Morning Post.
This was stated by Vice Minister of Industry and Informatization of the People's Republic of China Xin Guobin at the World Conference of Robotics. He noted that robotics is undergoing a revolutionary leap, which creates huge potential for investment and innovation.
To support this area, Beijing has created a 10 billion yuan ($1.4 billion) robotics industry fund to finance and help robotics companies access to exchange.
China is the world's largest robot market. In 2022, it installed more than half of the world's industrial robots. From 2015 to 2021, the production of industrial robots in China increased 10 times and amounted to 366 thousand units.
Revenue from this industry exceeded 170 billion yuan ($23 billion) last year. Thanks to heavy investment, China has become the world's fifth most automated in 2021, ahead of the United States.