shenzhen's government will dedicate 500 million yuan (us$79 million) each year to fund the robotics, wearables and intelligent device industries between 2014 and 2020.
according to an announcement made by the government, the funds will mainly be used to support research and development of core technologies, improve innovation capabilities and cultivate key sectors of industrial supply chains.
the combined value of these industries in 2013 reached 20 billion yuan.
technologies developed in shenzhen for the robotics industry such as power systems and control systems have taken a lead among their competitors in china and some have even reached a global level of influence. the city's robotics industry generated 18 billion yuan in 2013. shenzhen is china's largest r&d base for wearable products, with a complete industrial chain used by more than 1,000 enterprises.
the added value of the city's robotics, wearables and smart device industries is expected to reach 200 billion yuan by 2020, 10 times its present value.
(source:shenzhen daily)
