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Ambitious plan to pour massive aid into tech zone

Updated : 2016-10-28
(China Daily)

Guarantee funds will back emerging enterprises in their quest to create innovative technologies

One of the birthplaces of China’s modern industry and commerce, Wuxi, in Jiangsu province, will continue to promote the development of the internet of things industry to build a globally influential national sensing innovation demonstration zone in the 13th Five-Year Plan (2016-20) period.

The city plans to encourage IoT application projects, accelerate industry development, attract related businesses, strengthen core technology innovations and enhance coordinated innovations between countries and regions to support national industrial upgrade in the next five years, said Huang Qin, deputy mayor of Wuxi.

"We will ensure Wuxi National Sensor Network Innovation Demonstration Zone reports significant improvement in innovation capacity, industrial scale, employee numbers and influence to achieve commercialization of some research results, attract leading IoT businesses and develop demonstration projects," Huang said.

Wuxi obtained approval from the central government to construct the innovation demonstration zone in 2009. The central government hopes Wuxi can take a leading and exploratory role in IoT development and share its experiences with other Chinese cities.

By the end of 2015, there were 1,171 IoT-related companies in Wuxi, an increase from 248 in 2009. Their total sales revenue grew to 168.8 billion yuan ($24.95 billion) in 2015 from 22 billion yuan in 2009, according to Huang.

Seventeen application projects in the demonstration zone covering sectors such as transport, healthcare, environmental protection and power generation are supported or funded by central government departments. Those projects will be promoted nationwide if they prove to be applicable.

Wuxi has become a gathering place for IoT organizations and professionals, with 53 public service platforms for IoT businesses and 40 research and development centers in service in the city.

More than 2,500 high-caliber professionals, including 66 members listed in the national One Thousand Talent Plan, work in Wuxi.

Ambitious plan to pour massive aid into tech zone

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