China sees the Internet of Things as a driver of economic development in the country. Officials and experts are calling for an expansion of the IoT infrastructure. This is intended to accelerate economic development.
325 billion euros: Chinese IoT industry market continues to grow
The comments on the importance of the IoT industry to the overall Chinese economy were the result of an estimate of the market volume, as noted by an official from the Ministry of Industry and Information Technology. The market volume is expected to exceed 2,4 trillion yuan (325 billion euros) by the end of the year. The Ministry of Industry and Information Technology is China’s main industry regulator.
Over 10.000 IoT patent applications
The innovation push in China is also unabated. Over 10.000 IoT patents have been filed in China, Vice Minister Wang Zhijun announced. These IoT patents see China as an industrial ecosystem that includes smart sensors, information transmission as well as information processing. For comparison, 67.907 total patents were filed with the German Patent and Trademark Office in 2020.
World Internet of Things Wuxi Summit from October 22-25, 2021
The World Internet of Things (IoT) Exhibition 2021 is China’s most important IoT event. It opened on Saturday in the city of Wuxi in East China’s Jiangsu Province. The three-day event includes a summit, as well as an exhibition featuring the latest IoT applications and products, and 10 forums on topics such as 5G, Big Data and intelligent transportation.
Dubbed the “IoT City”, Wuxi is currently home to more than 3.000 IoT-related companies. The IoT city leads the way in formulating more than half of the international IoT standards.
“We will strengthen the innovation push, further improve the industrial environment, accelerate the construction of new infrastructure for IoT, and deepen application services in key areas,” Wang Zhijun said at the event.
IoT industry summit in Wuxi
Promoting global cooperation to advance the industry was at the heart of the conversation at the summit, which featured IoT industry leaders from around the world. The summit also became the initiator for global cooperation. Thus, twenty projects in highly innovative areas such as “artificial intelligence”, “manufacturing”, “Industrial Internet”, “IoT” were decided.
IoT leads to high-value industrial development
The 2021 World Internet of Things Exhibition occupies a special role in the world of IoT for the deputy governor of Jiangsu – Hu Guangjie. He sees the exhibition as an opportunity to intensify collaboration among IoT stakeholders.
National Sensor Network Demonstration Zone Wuxi
The more than 3.000 IoT enterprises located in Wuxi city mainly specialized in sensors, chips and communication. Wuxi city has also been declared the national sensor network demonstration zone. The city’s enterprises are involved in 23 major national IoT application projects.
5G, artificial intelligence and Big Data are key technologies
The Internet of Things is seen by Wu Hequan, a well-known scholar at the Chinese Academy of Engineering, as driving further development for the key technologies of 5G, artificial intelligence, Big Data and others, which he defines as the new generation of information technologies.
In 2019, the State Council approved the construction of the National Sensor Network Demonstration Zone in Wuxi. With the launch of this project, China opened up the Internet of Things for itself. Currently, Wuxi represents a pivotal point for the development of China’s IoT industry. Thus, the economic result of the IoT industry here already increased to over 200 billion yuan in 2016, and the number of employees grew to over 150.000 people even then.