The Robot Boom in China.docVIP

The Robot Boom in China 　　As the erstwhile “Factory of the World”， China is relying on the robot industry to get the lost glory back. The local governmentsare stepping up efforts to establish robot industrial parks， while domestic robotic companies also accelerated speed of overseas mergers and acquisitions （MAs）， setting their sight on the global market. 　　 Industry 4.0 　　China’s manufacturing industry has been plagued by the soaring labor costs for a long time. Now， the application of intelligent robots in the manufacturing sector can perfectly resolve the prob- lem， leading to a growing demand for robots. 　　According to data， during the period between 2008 and 2013，China saw an average annual rise of 36% inthe supply of industrial robots. 　　The country’s changing demographicsis one of main factors that boost the robot demand. It is undoubtedly that China has stepped into an aging society. According to a survey， the population aged over 60 is expected to reach 500 million by 2050， a significant risecompared with today’s 200 million. 　　In an aging society， workforce shrinks sharply， which also means a higher wage growth. According to GeWenjie， a machinery analyst at Nomura Holdings Inc， a typical industrial robot costs around 300，000 yuan and needs an extra 20，000 yuan for maintenance per year. 　　Compared with hiring a 6，000-yuan-a-month technician for a decade， the robot is much less expensive with a total cost of 500，000 yuan during the period. More importantly， the robot works three times more efficiently than a technician. 　　Therefore， in a bid to regain its lost glory and compete in the global market，Chinese manufacturers have to achieve Industry 4.0， stepping into an automated society. That’s why the International Federation of Robotics （IFR） says China will have more robots applied to industrial plants than any other country by 2017. 　　With such huge potential， China’s robot market gained strong momentums. In fact， as early as 2013， the countryh