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China is planning to make use of advanced robots to drive the country's future industrial growth and accelerate exports.
At the recent meeting of the National Congress of the Communist Party, the Asian giant mapped out the direction of the country's economic policies, and one of the major ideas was to use robots as a driver for industrial growth.
China: The world's largest robot market
China is the world's largest robot market and the nation now eyes exporting its robots to other countries. Currently, it exports less than 5 percent of the robots it produces.
"China's rapid development in industrial robot automation is extraordinary," said Marina Bill, president of the International Federation of Robotics, Businesswire reported.
She added: "The operational stock surpassed the 1.5-million mark two years ago, making China the first and only country with such a large industrial robot stock."
The report added that China installed 290,528 robots in 2022 alone, representing 52 percent of the overall robots globally.
"So far the number of exported robots from China is very limited. Chinese robots going abroad started only a few years ago. Like any business looking for a new market, Chinese robot companies go where there is demand for their products," said Xiaogang Song, Executive Director and Secretary-General of the China Robot Industry Alliance.
He also added that it will take a little time to build brand credibility by raising technology levels and providing better services to meet the needs of foreign markets.
Chinese tech firms accelerate humanoid robot R&D
Meanwhile, another report published in Global Times, which operates under the auspices of the Chinese Communist Party's flagship newspaper, the People's Daily, noted that several listed companies in the country have accelerated research and development of humanoid robots, as the field has the potential to deliver substantial returns to investors.
The report added that the demand for humanoid robots in various sectors including manufacturing and healthcare is expected to rise significantly in the coming years.
"China boasts a well-developed manufacturing system with extensive production experience, making it highly competitive in the manufacturing and assembly of humanoid robot components," Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences told Global Times.