Chinese robotic firms thrive, thanks to subsidies
In 2017, the output of industrial robots reached 131,000 units, a stunning rise of 81% from a year earlier
China has become the fastest growing country in terms of industrial robot density thanks to continuous government support, but it also aims to make it into the top 10 countries in the world for automation by 2020, Yicai.com reported.
According to the latest statistics published by the International Federation of Robotics, China’s industrial robot density ranks 23rd. In 2017, the output of industrial robots in China reached 131,000 units, a rise of 81% from a year earlier.
However, although most robotics manufacturers did achieve rapid growth, some of the company’s profits basically came from government subsidies.
For example, in 2016, 40% of the net profits of the four public robotics firms — SIASUN Robot & Automation, Estun Automation, Guangdong Topstar Tech and Shanghai Step Electric Cor — derived from government subsidies.
China is also the biggest shareholder of the robotic global market with a net worth of US$30 billion.