Leading Chinese robotics and embodied artificial intelligence firm Beijing Galbot Co Ltd launched its first three overseas fully autonomous robot retail stores in Hong Kong on Monday, injecting fresh momentum into the city’s fast-growing technology sector.
The three new Galbot Stores – located in Hung Hom, Kai Tak, and Wan Chai – will officially welcome customers on Tuesday, making them the first of their kind in the special administrative region.
At a ceremony earlier in the day, Wang He, Galbot’s founder and chief technology officer, said launching the first humanoid robot retail store in Hong Kong is a significant step for the company as it moves from research and development into practical operations.
It is also a crucial step for Galbot in expanding beyond the Chinese mainland into the global market, he added.
Wang said he hopes the company can collaborate with universities and research institutions, as well as industry players in the HKSAR, to establish embodied AI laboratories, driving commercialization of more technological achievements and cultivating future talent in this field.
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As one of the country’s robotics leaders, Beijing Galbot Co Ltd has launched around 200 retail stores in nearly 50 cities across the Chinese mainland.
Financial Secretary Paul Chan Mo-po said Galbot’s choice of the HKSAR to expand its network reflects the unique values of the robust Hong Kong market. “Hong Kong is densely populated. The market offers efficient and diverse retail environments and is highly internationalized,” he said at the ceremony.
According to projections by Morgan Stanley, the global humanoids market could be worth over $5 trillion by 2050. There could be more than 1 billion humanoid robots in use by then, with China likely to have the highest number at 302.3 million, the investment bank estimates.
Chan said Hong Kong can play a “distinctive and important role” amid the global boom in humanoid robots, underpinned by its viable application market, vibrant R&D ecosystem, and a sustainable capital chain.
“By connecting with the Guangdong-Hong Kong-Macao Greater Bay Area, the HKSAR is well-positioned to become an R&D and manufacturing hub for the next-generation embodied AI,” he said, citing the city’s strengths, such as its comprehensive intellectual property protection system, convenient access to international data, and strong talent pool.
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The finance chief also highlighted Hong Kong’s established patient capital ecosystem led by the HKSAR government-owned Hong Kong Investment Corporation Limited, which provides continuous support to cutting-edge technologies and emerging industries.
The HKIC has been one of Galbot’s investors since 2024. HKIC CEO Clara Chan Ka-chai said the corporation’s support has exposed many exceptional enterprises, including Galbot, to other patient capital institutions, family offices, and sovereign funds from across the world, fostering the growth of those developing teams.
She added that each successful HKIC investment case generates momentum in Hong Kong’s financial and innovation and technology ecosystems.
To date, HKIC has invested in more than 200 companies, with over 70 percent of its capital going to startups and growing businesses.
Contact the writer at gabylin@chinadailyhk.com
