China to roll out policies to support robotic and intelligent equipment manufact

China to roll out policies to support robotic and intelligent equipment manufacturing in H1 2015

Chinas State Council will roll out policies to support robotic and intelligent equipment manufacturing in the first half of 2015， according to a statement made by Luo Jun， secretary-general of the International Robotics and Intelligent Equipment Industry Alliance and CEO of the Asian Manufacturing Association（AMA） on Dec. 19th.

The statement was made at the 2014 World Robotics and Intelligent Equipment Industry Conference & Exhibition held from Dec. 19th to Dec. 22nd in Chengdu City， the capital of Chinas Sichuan Province.

Luo said that Chinas Ministry of Industry and Information Technology（MIIT） and the Ministry of Science and Technology （MST） would pour billions of yuan into the sector.

Chinas domestic robotics market is dominated by foreign firms， and domes- tic manufacturing companies account for less than 20% of the market share currently， mainly due to high costs， according to Luo.

An industrial robot can complete 3.6 peoples work， but it costs five to ten times more.

Luo predicted that domestic robotic manufacturing companies market share will rise to over 50 percent in the next three to five years with the country pushing for a shift from traditional manufacturing into industrial automation.

Chinas robotics sector has just taken off and will see a remarkable growth in next three decades with more roboticfriendly policies.

Chinese public departments net assets top 100 trln yuan in 2013

According to the latest research released by the finance research institute under the Peoples Bank of China（PBOC） on Dec. 20th， 2014， the total net assets of Chinese public departments exceeded 100 trillion yuan in 2013， or roughly 180% of the countrys gross domestic product （GDP） in that year.

According to data， Chinese public departments net assets， including net assets of the government and governmentcontrolled companies， totaled 106.9 trillion yuan in 2013.

The data shows that the amount of the governments net assets was substantial and the structure of net assets was stable and healthy.

To be specific， net assets of the Chinese government in the narrow sense， which refers to legislative departments， executive departments， and justice departments， were 55.3 trillion yuan in 2013， while in the broad sense， the governments net assets that include net assets of government-backed public institutions and associations， stood at 92.3 trillion yuan during the period.

Net assets of the central government in the narrow sense accounted for 26% of the countrys GDP in 2013， while in the board sense， government departments funds injected into enterprises and institutions were equal to 34% of the GDP during the period.

The huge net assets combined with$4-trillion-billion foreign exchange reserves to give the Chinese government a good foundation for economic control.

The research program for the accounting of Chinese governments assets and liabilities， which was launched in September 2013 and scheduled to be complete by 2018， will provide a good base for the research and compilation of the countrys national balance sheet for relevant departments.