China’s IoT biz over $140 bln

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.

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