Robot makers positive amid rising labor costs

A leading industry player, Harbin Boshi Automation Co Ltd aims to boost China's robot industry through independent innovation.

Formerly named Harbin Boshi Automation Equipment Co Ltd, the company was established in 1997.

After years of development, its market value has grown to more than 10 billion yuan ($1.6 billion), compared with a registered capital of 1.2 million yuan when it was founded. The firm's revenue hit 700 million yuan last year.