Chinese humanoid robot maker Unitree Robotics opened subscriptions for its initial public offering on the Shanghai Stock Exchange's sci-tech innovation board, or STAR Market, on Monday, as the market witnessed a broader economic shift with future industries expected to power the country's next wave of economic growth. 8月10日中国人形机器人制造商宇树科技在上海证券交易所科创板启动新股认购,此举正值中国经济迎来更广泛的转型,未来产业有望成为驱动国家新一轮经济增长的重要引擎。 President Xi Jinping, who is also general secretary of the Communist Party of China Central Committee, said in an article published in June in the Qiushi Journal, a flagship magazine of the CPC Central Committee, that cultivating and developing future industries are of great significance for seizing the development initiative, developing new quality productive forces and improving people's quality of life.中共中央总书记、国家主席习近平在中共中央机关刊物《求是》杂志6月刊发的文章中指出,培育和发展未来产业,对于抢占发展主动权、发展新质生产力、提高人民生活品质具有重大意义。 Efforts should be made to vigorously foster first-class scientific, technological and high-tech enterprises that excel in core technologies and possess strong innovation capacities, Xi said.习近平指出,要大力培育掌握核心技术、创新能力强的一流科技型高新技术企业。 For decades, China's economic expansion was powered largely by traditional industries, infrastructure investment and manufacturing scale.数十年来,中国经济增长主要依靠传统产业、基础设施投资和制造业规模驱动。 But the next wave of growth is increasingly expected to come from future industries, including embodied intelligence, future energy, quantum technology, brain-computer interfaces and 6G, which have been highlighted as key areas in China's 15th Five-Year Plan (2026-30).但下一轮增长动能正日益转向未来产业,包括具身智能、未来能源、量子科技、脑机接口和6G等,这些领域已被列为"十五五"规划(2026年至2030年)的重点方向。 Since leading semiconductor firm ChangXin Memory Technologies debuted on the STAR Market in late July, a number of companies including artificial intelligence chip developer Enflame Technology, semiconductor manufacturer Can-Semi Technology, commercial rocket maker LandSpace and AI chip company Kunlunxin have been moving toward potential listings.自领先半导体企业长鑫存储7月下旬在科创板上市以来,人工智能芯片研发商燧原科技、半导体制造商积塔半导体、商业火箭企业蓝箭航天以及人工智能芯片企业昆仑芯等多家企业也在积极推进上市进程。 Behind the wave of listings is not just a reshuffle of capital market preferences, but a transformation in the sources of future economic growth.这波上市潮的背后,不仅是资本市场偏好的重新洗牌,更是未来经济增长动能来源的深刻转变。 Hu Yongjun, secretary-general of future industries and platform economy research center under the State Information Center, said: "Developing future industries is a key move in driving industrial transformation and upgrade. Technologies that appear to be in an exploratory stage today could become engines of economic growth over the next decade or more."国家信息中心未来产业与平台经济研究中心秘书长胡拥军表示:"发展未来产业是推动产业转型升级的关键举措。今天看似仍处于探索阶段的技术,未来十年乃至更长时间里可能成为经济增长的引擎。" He said that future industries will fuel China's economic growth through new trillion-yuan-level industries that will come about as emerging technologies transform into commercial applications, and traditional industries are upgraded by integrating technologies such as AI, digitalization and low-carbon solutions.他表示,随着新兴技术加快向商业化应用转化,以及人工智能、数字化、低碳等技术与传统产业深度融合、推动其转型升级,未来产业将通过催生新的万亿级产业,为中国经济增长注入新动能。 "More importantly, future industries are not simply about developing several new products. They could accelerate upgrades across an entire industrial chain, from core components to end-user applications," he said.他说:"更重要的是,未来产业并非仅仅是研发几款新产品,而是能够带动从核心零部件到终端应用的整条产业链加速升级。" A humanoid robot illustrates this ecosystem effect.一台人形机器人便是这种生态带动效应的生动例证 Behind a single robot are dozens of interconnected sectors, including AI models, chips, sensors, precision reducers, motors, batteries, new materials, industrial software and intelligent manufacturing equipment.一台机器人的背后,牵动着数十个相互关联的产业领域,涵盖人工智能大模型、芯片、传感器、精密减速器、电机、电池、新材料、工业软件以及智能制造装备等。 China's electric vehicle industry offers a similar example.中国电动汽车产业也提供了类似的例证。 Over the past decade, the rise of new energy vehicles has reshaped the global auto industry while driving rapid growth in power batteries, energy storage materials, intelligent driving technologies and automotive chips.过去十年间,新能源汽车的崛起重塑了全球汽车产业格局,同时带动动力电池、储能材料、智能驾驶技术和车规级芯片实现快速增长。 In addition, the Unitree IPO and other upcoming listings represent a broader reallocation of capital toward technologies that may require years of investment before generating large-scale commercial returns.此外,宇树科技上市及其他即将登陆资本市场的企业,也反映出资本正更广泛地流向那些可能需要多年投入才能实现规模化商业回报的技术领域。 Xi also stressed efforts to improve fiscal and taxation policies, vigorously develop technology finance, and optimize government procurement and talent cultivation, introduction and utilization to foster a robust environment that encourages innovation.习近平还强调,要完善财税政策,大力发展科技金融,优化政府采购,做好人才培养、引进和使用工作,营造鼓励创新的良好环境。 Tian Xuan, dean of Peking University's Guanghua School of Management, said: "China is transiting from factor-driven growth toward innovation-driven development. Capital is moving beyond its traditional role of financing capacity expansion in mature industries and increasingly taking on the earlier-stage, longer-term uncertainty involved in building future industries."北京大学光华管理学院院长田轩表示:"中国正从要素驱动型增长向创新驱动型发展转变。资本正超越以往为成熟产业产能扩张融资的传统角色,日益承担起培育未来产业过程中早期、长周期不确定性的风险。" As of June 2026, the STAR Market had attracted 609 hard technology companies, with total funds raised through IPOs and refinancing exceeding 1.37 trillion yuan ($203 billion).截至2026年6月,科创板已吸引609家硬科技企业上市,通过首次公开募股及再融资累计筹资超过1.37万亿元人民币(约合2030亿美元)。 More than 40 listed companies on the market have also entered cutting-edge fields such as quantum technology, 6G and biomanufacturing.科创板上市公司中,已有40余家企业布局量子科技、6G和生物制造等前沿领域。 The China Securities Regulatory Commission has also introduced a regular "green channel" mechanism for IPO financing and mergers and acquisitions involving technology companies in strategically important core technology areas.中国证券监督管理委员会还针对掌握战略性核心技术的科技企业,建立了常态化的首次公开募股融资及并购重组"绿色通道"机制。 For instance, Unitree Robotics moved rapidly through the listing process, taking less than four months to go from the application acceptance stage to approval, marking the fastest review under the STAR Market's preliminary review mechanism since its implementation.以宇树科技为例,其上市进程推进迅速,从申报受理到审核通过历时不足四个月,创下科创板预先审阅机制实施以来的最快审核纪录。 "Amid the rapid development of AI, rising geopolitical tensions and a growing emphasis on strategic security, China needs to build a financial system better aligned with the development of new quality productive forces," Tian said.田轩表示:"在人工智能快速发展、地缘政治紧张局势加剧、战略安全日益受到重视的背景下,中国需要构建一个与新质生产力发展更加适配的金融体系。" "This requires expanding the supply of patient capital, improving market structures, enhancing policy predictability and reducing resource misallocation, thereby providing sustained and solid financial support for innovation," he added.他补充说:"这需要扩大耐心资本供给,完善市场结构,增强政策可预期性,减少资源错配,从而为创新提供持续而坚实的金融支撑。" quantum technology /ˈkwɒntəm tekˈnɒlədʒi/ n.量子科技 brain-computer interface /breɪn kəmˈpjuːtər ˈɪntərfeɪs/ n.脑机接口 semiconductor /ˌsemikənˈdʌktər/ n.半导体 reshuffle /riːˈʃʌfəl/ n./v.重新洗牌,调整 secretary-general /ˈsekrətəri ˈdʒenərəl/ n.秘书长 trillion-yuan-level /ˈtrɪljən juˈɑːn ˈlevəl/ adj.万亿元级的 digitalization /ˌdɪdʒɪtəlaɪˈzeɪʃən/ n.数字化 low-carbon /loʊ ˈkɑːrbən/ adj.低碳的 industrial chain /