How is the Robotics Industry Dominated by China? Analytics Insight

Launched in 2015, Made in China 2025(MIC 2025) is the Chinese government's ten-year plan to update China's manufacturing base by focussing on the country's ten high tech industries. The strategy focuses to outline Beijing's aspirations to dominate the global economy of the future, in pivot areas like new energy vehicles, advanced robotics, next-generation information technology (IT) and telecommunications, robotics and artificial intelligence. In the domain of industrial robots, China has earmarked new development plans and is making impressive progress. Conditions are ideal in China for building a thriving robotics industry, serving both the domestic and overseas market. First, the Chinese government's efforts to bring the country into the global map by offering generous tax breaks and subsidies to robotics startups.