China Is World's Biggest Market for Industrial Robots With Expected Output of 120,000 Units This Year
Xu Wei
DATE:  Dec 14 2017
/ SOURCE:  Yicai
China Is World's Biggest Market for Industrial Robots With Expected Output of 120,000 Units This Year China Is World's Biggest Market for Industrial Robots With Expected Output of 120,000 Units This Year

(Yicai Global) Dec. 14 -- China's output of industrial robots is expected to exceed 120,000 units this year, nearly one third of the global total. China will actively channel foreign investments into the country's robot industry in the future and increase technology cooperation with the Belt and Road countries.

Luo Junjie, deputy director of the equipment industry unit at the ministry of industry and information technology, made the above remarks at the 2nd International Robot Testing & Certification Summit yesterday, China News Service reported.

China's robot industry has been growing at a pace of about 20 percent per year over the past five years. China's output of industrial robots, for the first time, exceeded 100,000 units in the 10 months through October, up nearly 70 percent year-on-year, Luo revealed. China's industrial robots market is expected to reach USD4.2 billion this year and increase to USD5.9 billion in 2020, state-run Xinhua News Agency reported.

Many regions of China including the northeast, Beijing-Tianjin-Hebei region, Yangtze River Delta, Pearl River Delta, and central and western regions have preliminarily formed a batch of distinctive industrial clusters. Many well-known international enterprises have invested and set up factories in China, achieving favorable returns, Luo said.

In the future, China will strengthen international cooperation to guide foreign investments into the Chinese robot industry and encourage relevant robot enterprises to set up research and development (R&D) production bases in China. Meanwhile, focusing on the Belt and Road Initiative, China will also deepen technology and productivity cooperation with other countries as part of the Belt and Road Initiative, Luo added.

The robot industry is also a key development area in the country's "Made in China 2025" strategy, which aims to upgrade the manufacturing sector.

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Keywords:   Robot,Production