Shenzhen Pledges 10 Billion Yuan to AI and Robotics, Fueling Industry Transformation

On February 23, Shenzhen announced a groundbreaking initiative to establish a 10-billion yuan (approximately $1.4 billion) artificial intelligence (AI) and robotics industry fund during a press conference titled “Building the Best Ecosystem for Technological Innovation and Talent Development.” The fund will target high-growth enterprises in AI software, hardware, and embodied artificial intelligence to address financing challenges.  

Lin Yi, Deputy Director of the Shenzhen Municipal Industry and Information Technology Bureau and Head of the Municipal AI Industry Office, revealed that the city is already home to over 2,600 AI companies, six AI unicorns, 34 listed robotics firms, and nine robotics unicorns.  

Comprehensive Support for AI and Robotics  

AI and robots are the leading technologies and blockbuster industries that will lead the future. Shenzhen outlined a four-pronged strategy to accelerate industry growth:  

1. Policy Incentives: The city will offer subsidies covering up to 60% of costs (capped at 10 million yuan) for training, model development, data procurement, and scenario applications. A total of 4.5 billion yuan in policy funds will be allocated in 2024, with applications opening in March. Dedicated policies for humanoid robots will also be rolled out.  

2. Scenario Development: By 2025, Shenzhen will open 100 new real-world application scenarios across municipal services, healthcare, emergency response, and elderly care to enable rapid product iteration and performance validation.  

3. Innovation Ecosystem: The city will enhance incubators like “Model Camp” by providing integrated support in workspace, computing power, models, and capital. The 10-billion-yuan fund aims to bridge funding gaps for startups.  

4. Humanoid Robotics Breakthroughs: Key R&D priorities include advancing AI “brains,” motion control “cerebellums,” cross-modal interaction, and core hardware components like precision reducers, joint motors, and tactile sensors. Dedicated datasets and testing platforms will accelerate technology commercialization.  

Shenzhen’s aggressive investments and open innovation ecosystem position it as a magnet for global talent and capital, signaling its ambition to lead the next wave of AI and robotics innovation.

Nationwide Robotics Race

Shenzhen’s move reflects a broader trend. Over 14 Chinese provinces and cities have established robotics industry funds ranging from 200 million to 100 billion yuan, targeting robotics manufacturing, components, and innovative applications. Governments dominate these funds, though state-owned enterprises, corporations, and universities are increasingly participating as limited partners. It is worth noting that universities are increasingly active in the construction of robot industry funds around the country.

These funds aim to alleviate financing bottlenecks, attract investment, and foster industry collaboration. Challenges remain, but advancements in AI, IoT, and big data are driving smarter robots into manufacturing, logistics, healthcare, and education. With global demand rising, China’s robotics sector is poised for rapid growth, bolstering its competitiveness on the world stage.