One trillion yuan! China boosts robotics and AI sector with venture capital fund

Source: IFR | Translated by AI 2 min Reading Time

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China's People's Congress wants to push robotics and the high-tech sector with around one trillion yuan (around $138 billion).

The Chinese have seen a record upswing in robotics. Now the state is planning to spend billions to support humanoid robots, artificial intelligence (AI) and other high-tech sectors. Europe should not stand idly by ...(Image: Grushefish)
The Chinese have seen a record upswing in robotics. Now the state is planning to spend billions to support humanoid robots, artificial intelligence (AI) and other high-tech sectors. Europe should not stand idly by ...
(Image: Grushefish)

China's State Development and Reform Commission is planning to set up a publicly supported venture capital fund for robotics, artificial intelligence (AI) and cutting-edge innovations, according to the International Federation of Robotics (IFR). A total of around 1 trillion yuan is to be raised from local governments and the private sector over a period of 20 years, according to the statement. With its national robotics strategy published in December 2021, China is currently providing a good example of how the competitiveness of an economy can be systematically strengthened, as the following figures should prove ...

China's robot market development since 2020

Robot manufacturers from China have succeeded in significantly expanding their competitive position in their home market. The share of industrial robots installed by local suppliers rose from 30% in 2020 to 47% in 2023, with these robotics companies benefiting from a rapidly growing Chinese end customer market with rising demand for a wide range of consumer goods. Many industries also expanded their automation projects. Almost two thirds of all industrial robots in the global electronics industry were installed in China alone (2023). Chinese manufacturers also supplied 54% of all units for this huge domestic market, accounting for around 33% of global demand in the electronics industry. In the domestic metal industry and mechanical engineering, Chinese robot suppliers even held a market share of 85%.

The course of the installations of Chinese robot technology.(Image: IFR)
The course of the installations of Chinese robot technology.
(Image: IFR)

Europe must not fall behind in robotics

As the next important step, China is obviously aiming to integrate robotics with other future technologies such as artificial intelligence, improved components and new application scenarios for "smart" manufacturing. At any rate, this is more than clear from China's latest initiative! Humanoid robots are also to be positioned as a cutting-edge technology and a state-sponsored venture capital fund is to be set up for this purpose. But innovations in this area are also being driven forward in the USA with considerable venture capital. Experts warn that Europe must not lose touch here. It is therefore crucial for Europe that humanoid robots leave the research laboratories and are produced in a scalable manner at competitive conditions. However, a coordinated approach is also essential to ensure that Europe remains at the forefront of human-like robots.

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