The 2025 Tianjin Wudadao Forum was held in north China's Tianjin on Thursday, attracting guests from academia, government, diplomatic circles, and think tanks to discuss finance in the sci-tech sector.
A report on national innovation and financial development was released at the event, based on in-depth analysis of the finance environment in science and technology.
"The report has effectively analyzed the current landscape of sci-tech finance development in 14 cities and regions in China, their comparative advantages in different dimensions and details, and their useful practices. The report also identifies the gaps in building sci-tech finance ecosystems in these cities and regions and proposes targeted solutions," said Li Zeguang, deputy head of School of Finance, Nankai University.
Insurance institutions are active enablers of sci-tech finance, according to experts, and insurance capital aligns well with the extended research and development cycles of tech innovators. Data from the National Financial Regulatory Administration shows that by the end of 2024, the insurance sector had provided approximately 9 trillion yuan (around 1.25 trillion U.S. dollars) in tech-related risk coverage and invested over 600 billion yuan (around 83.5 billion U.S. dollars) in tech firms.
"For instance, we can invest in top-tier PE/VC firms to leverage their expertise. We can also invest in mergers and acquisitions funds and leading 'chain master' enterprises and set up mergers and acquisitions funds with these enterprises, supporting them to consolidate upstream and downstream supply chains," said Jia Biao, president of China Insurance Investment Co. Ltd.
Guests at the event also discussed the development path of international sci-tech finance.
"Pouring in funds alone might not enhance developing nations' capacities. How to leverage development projects to facilitate technology transfer and technical capability upgrading, thereby laying a solid foundation for their sustainable self-development, is what we really need to think about," said Zhang Wencai, Managing Director and World Bank Group Chief Administrative Officer (MDCAO).
Sci-tech finance in the spotlight at 2025 Tianjin Wudadao Forum
From cutting-edge technology exhibitions to retail stores thousands of kilometers away from Europe and Southeast Asia, China-made robot vacuum cleaners are increasingly becoming a popular choice among consumers worldwide.
At electronics retailers in Berlin, Germany, Chinese brands such as Roborock and Dreame occupy prominent positions in dedicated robot vacuum sections, offering a wide range of products priced between 200 and 2,000 euros.
Many local consumers said that when purchasing smart home appliances including robot vacuum cleaners, they tend to give priority to Chinese-made products.
"It's a good price and good quality. It's also the innovation. I have a feeling that the European brands are not innovating enough," said one customer.
"I think they're always on top of the other technologies. They are getting them out faster. A lot of us are switching to the Chinese technology," another consumer said.
Germany is one of the most important overseas markets for China's floor-cleaning robots.
According to data from market research firm GfK, from January to November 2025, more than six out of 10 robot vacuum cleaners sold in Western Europe were Chinese brands.
Industry data also point to a strong global momentum.
According to the International Data Corporation (IDC), global shipments of smart robot vacuum cleaners reached 17.424 million units in the first three quarters of 2025, representing a year-on-year increase of 18.7 percent.
Chinese brands including Roborock, Ecovacs, Dreame, Xiaomi and Narwal ranked among the world's top five in terms of shipment volume, with a combined share of nearly 70 percent of the global market.
At a robot vacuum cleaner manufacturing plant in Huizhou, south China's Guangdong Province, workers were seen stepping up production of newly launched models that recently debuted at the Consumer Electronics Show in the United States, which concluded Friday in Las Vegas, Nevada.
The factory adjusted its production lines as early as December 2025 and stocked inventory in advance for overseas markets to ensure that new products could be delivered to global consumers at the earliest possible time.
"In 2025, Roborock's global shipments exceeded 7.2 million units. Since 2024, overseas revenue has accounted for more than 50 percent of our total revenue. Our products have now been sold to more than 170 countries and regions, serving more than 20 million households worldwide," said Quan Gang, president of Roborock.
At another robot vacuum cleaner manufacturing facility in Dongguan, Guangdong, rising overseas orders have prompted the company to upgrade its production lines with intelligent technologies to further boost capacity. The factory is currently operating at full load to meet a growing demand.
"For 2026, we have already obtained overseas orders worth at least 300 million to 400 million yuan (around 43 million to 57.3 million U.S. dollars). In addition, we've engaged in strategic cooperation with European home appliance group Cebos Group, and our total confirmed orders have exceeded 600 million yuan (around 86 million U.S. dollars)," said Zhang Junbin, founder and CEO of Narwal Robotics.
Chinese robot vacuum brands gain strong global traction
