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Shanghai's Intelligent Manufacturing Sector Surpasses 100 Billion Yuan Milestone

Shanghai’s Intelligent Manufacturing Sector Surpasses 100 Billion Yuan Milestone

Beijing, January 04, 2024, The Europe Today: Shanghai’s intelligent manufacturing equipment sector has achieved a noteworthy milestone, surpassing 100 billion yuan (approximately 14.09 billion U.S. dollars), as revealed during a local conference on Wednesday. The city has ambitious plans to construct 70 smart factories in 2024.

Existing smart factories in Shanghai have demonstrated impressive outcomes, with an average 50-percent increase in production efficiency, a 30-percent reduction in operating costs, and a cumulative 13.8-percent decrease in unit energy consumption. In alignment with these achievements, Shanghai has committed to nurturing 10 companies specializing in robotics, with the goal of reaching a total market size of 100 billion yuan in robot-related industries by 2025, as outlined in an action plan.

China, as a whole, has established over 10,000 digital workshops and smart factories, positioning itself as the world’s largest intelligent manufacturing application market, as reported by the Ministry of Industry and Information Technology.