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"China is a gold mine for innovation and technologies and has large markets for robotics," he said. "With the supportive policies, abundant resources provided by both the government and the companies and more forms of cooperation, China will catch up within a few years and then overtake other developed countries to take the top spot in many fields of robotics."
"Caterpillar China has striven to build an integrated system for its mini excavator business, covering local R&D and manufacturing as well as the provision of components and parts," said Chen Qihua, vice-president of Caterpillar and chairman of Caterpillar China.
"Capital is needed to fuel China's industrial upgrade push and boost the development of the robotics sector," Ren said. "We are industrial investors. We will take advantage of Siasun's leading position in the industry, and offer startups help in resources such as brand, technology, capital and industrial bases.
"China is still a developing country. Its development needs World Bank support, and the Bank's development also needs China's contribution," the Ministry of Finance said on Tuesday.
"By gathering efforts from experts and enterprises, it promotes the development of AI and new changes in China's economic growth."