China has announced the creation of a state-backed venture capital fund focused on robotics, AI and innovation. The fund is expected to attract nearly 1 trillion yuan ($138 billion) in capital from local governments and the private sector over 20 years. This endeavor aims to continue China's tech-driven manufacturing success story. Over the past decade, China's share of global industrial robot installations has increased from one-fifth to more than half. Chinese robot makers have significantly increased their market share domestically, with local suppliers already supplying 54% of industrial robots for the domestic market in 2023.

China plans to integrate robotics with emerging technologies such as artificial intelligence. Europe is urged to invest in humanoid robotics to remain competitive. The announcement was made at the 14th National People's Congress, which includes China's strategic plans for the robotics industry.