China aims to boost robot output

Image
IANS Beijing
Last Updated : Apr 27 2016 | 12:22 PM IST

China plans to triple its annual production of robots used in the manufacturing sector to 100,000 in five years, a media report said on Wednesday.

China is also aiming to sell more than 30 billion yuan ($4.6 billion) worth of service robots by 2020 amid surging demand in the healthcare, education and entertainment sectors, according to the ministry of industry and information technology.

The initiative also details the growth of the robotics industry for the national 13th Five-Year Plan (2016-20) with a view to increasing the quality of equipment, ministry official Xin Guobin, said.

China produced fewer than 33,000 manufacturing robots in the past year, the ministry said.

"The strategy will help the Chinese robotics industry to achieve healthy growth amid challenges from overseas providers," Xin said.

China became the world's largest market for industrial robots in 2013, surpassing Japan, according to the International Federation of Robotics.

Increasing labour costs and labour shortages are pushing some manufacturers to adopt robots in product lines.

The ministry will also encourage Chinese robot manufacturers to gain a bigger presence in the high-end market, an area currently controlled by overseas giants such as Fanuc Corp from Japan and the multinational ABB Group based in Switzerland.

--IANS

ksk

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 27 2016 | 12:10 PM IST

Next Story