Social robots can be an effective solution for the challenges facing an aging population. In this study, we apply the warmth and competence theoretical framework (Fiske et al., 2007) and the “computers as social actors” theory (Reeves & Nass, 1996) to understand how older Chinese adults perceive social robots. We surveyed 1480 Chinese older adults living in rural areas in Mainland China and tested two alternative hypotheses predicting the direction of the relationships between perceived warmth and competence and concerns about social robots. The results indicate that perceived competence was linked to increased technical, financial, and privacy concerns, while perceived warmth was connected to increased psychological concerns and decreased technical and financial concerns. These findings reveal that when social robots fulfill their promises to reduce older adults' health vulnerabilities, they can add a layer of psychological vulnerabilities. The conflicts between these two types of vulnerabilities may explain people's hopes and fears of social robots.