China’s robot boom hits an unexpected speed bump – a cautious Beijing
Wary of market turbulence, regulators are slowing down the pace at which robotics companies can list. This puts local officials in an awkward position.
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Chinese street dancer Wu Yufei performing alongside Unitree Robotics humanoid robots during a demonstration in Pasadena, California, on Sept 17.
PHOTO: AFP
When Unitree, the maker of China’s famed gongfu-fighting and dancing robots, listed in Shanghai in August, its shares soared before losing more than half their value from their peak within a month.
This is the kind of market volatility that Beijing frowns on. And so it acted.