China’s Internet of Things (IoT) industry has seen its output value exceed 900 billion yuan (140 billion US dollars), with a compound annual growth rate of over 25 percent.
A report by Chinese agency Xinhua said that with a huge market, a complete industrial chain and the world’s biggest mobile telecommunications network, China will soon take the lead in some frontier IoT sub-sectors, according to Vice Minister of Industry and Information Technology Luo Wen said during an IoT expo in Wuxi, Jiangsu Province.
A number of technological centres and laboratories will be established to support development in this field, while the manufacturers will be overhauled to be more reliant on the IoT, Luo said.