Tuesday, 02 January 2024 12:17 GMT

China cautions of unsustainable bubble due to surge of speculative investment


(MENAFN) China’s top economic planning body has cautioned that the country’s booming humanoid robotics industry may be heading toward an unsustainable bubble due to a surge of speculative investment.

During a briefing in Beijing on Thursday, Li Chao, a spokesperson for the National Development and Reform Commission, said authorities are working to ensure that the sector’s rapid expansion does not destabilize the broader market.

The official noted that “Frontier industries have long grappled with the challenge of balancing the speed of growth against the risk of bubbles – an issue now confronting the humanoid robot sector as well,” stressing that robotics is no exception.

China currently has more than 150 firms operating in the humanoid robotics field. Unitree, one of the best-known companies, drew widespread attention when its dancing robots appeared in the Spring Festival Gala earlier this year.

In February, the company showcased a video of its G1 humanoid robot executing Kung fu routines.

Several other newcomers, including AgiBot and Galbot, are also gaining momentum. Their machines have demonstrated abilities ranging from running marathon distances to kickboxing and preparing coffee, reflecting the intense competition and rapid technological leap within the industry.

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