▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | Italian Channel Awards | Italian Project Awards | Italian Security Awards | ...
InnovationOpenLab

China to Invest 1 Trillion Yuan in Robotics and High-Tech Industries – IFR Reports

#IEEE--China’s National Development and Reform Commission has announced to set up a state-backed venture capital fund focused on robotics, AI and cutting-edge innovation. The long-term fund is expec...

Business Wire
  • China’s National People's Congress announced venture capital fund

FRANKFURT, Germany: #IEEE--China’s National Development and Reform Commission has announced to set up a state-backed venture capital fund focused on robotics, AI and cutting-edge innovation. The long-term fund is expected to attract nearly 1 trillion yuan (US$138 billion) in capital from local governments and the private sector over 20 years. This initiative aims to continue China's technology-driven success story in manufacturing: In ten years, the country's global share of industrial robot installations has risen from around one-fifth to more than half of the world's total demand.

"China has succeeded in upgrading its manufacturing industry at an unprecedented pace," says Takayuki Ito, President of the International Federation of Robotics. "Based on their national robotics strategy released in December 2021, the country has set an example of how to systematically strengthen competitiveness."

The Robotics success story

Chinese robot manufacturers have been able to significantly expand their domestic market share: Local suppliers' annual industrial robot installations in China increased from 30% in 2020 to 47% in 2023. These robot companies are benefiting from a growing Chinese consumer market. Various industries are expanding their automation capacity: For example, in 2023 nearly two-thirds of industrial robots in the electronics industry are installed in China alone. Chinese manufacturers supply 54% of the industrial robots for this huge domestic market.

Risk capital to innovate

As an important next step, China aims to integrate robotics with other emerging technologies such as artificial intelligence, improved core components and new application scenarios of smart manufacturing. This is illustrated by China´s recent initiative to position humanoid robots as a frontier technology and the newly approved state-backed venture capital fund.

"China has demonstrated how to leverage huge economies of scale," says Dr. Dietmar Ley, Chairman of VDMA Robotics + Automation. “Massive investments are being made in humanoid robots, not only in China, where there is a national strategy for humanoids, but also in the US. Europe must not lag behind in this critical area. It is essential that European humanoid technology moves beyond the labs and into scalable, competitively priced production."

FULL TEXT press release: https://ifr.org/ifr-press-releases/china-to-invest-1-trillion-yuan-in-robotics-and-high-tech-industries

About IFR 
www.ifr.org

Follow IFR on LinkedIn and YouTube

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

RSA at Cybertech Europe 2024

Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for…

Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity

G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes

How Austria is making its AI ecosystem grow

Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries

Sparkle and Telsy test Quantum Key Distribution in practice

Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing…

Most read

Morning Walk Finds Its Stride as Mid-Market Brands Embrace Performance…

Morning Walk, the modern performance branding company known for building brands while driving scalable business results, announced today a surge in growth…

Glean Brings Together Industry Leaders and AI Visionaries Driving the…

Work AI leader Glean today announced its lineup of powerhouse industry speakers - from Fortune 500 CEOs to AI-first disruptors - set to take the stage…

Dassault Systèmes and Airbus Extend Strategic Partnership to Use Virtual…

#3DEXPERIENCE--Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) and Airbus have extended their long-term strategic partnership, putting the 3DEXPERIENCE…

CORRECTING and REPLACING Saviynt Hires Identity Veteran Roger Hsu to Accelerate…

Headline of release issued April 22, 2025, at 9:30 p.m. PT/April 23, 2025, at 12:30 a.m. ET should read: Saviynt Hires Identity Veteran Roger Hsu to Accelerate…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!