Wuxi hosts a summit talking on the development of new-generation information technologies in Shenzhen on Aug 18. [Photo provided to chinadaily.com.cn]
Wuxi, an eastern Chinese city that has embraced the internet of things (IoT) as a new engine of development, hosted a series of activities in Shenzhen from Aug 17 to 19, with the aim of promoting the development of a new-generation information technology industry.
A total of 54 deals worth 11.33 billion yuan ($1.64 billion) were signed on Aug 18 during the main event that focused on industrial investment, technology research and development, financial services and talent training for new industries.
These new deals are expected to help promote the development of IoT, integrated circuits (IC), intelligent manufacturing, digital film, internet of vehicles (IoV) and satellite communications and positioning.
Wuxi, which is home to the Wuxi Innovation Park of Sensing Network, China's first national-level IoT innovation park, has attracted more than 3,000 companies working on IoT, IC, software, big data and cloud computing. Sixty-three of these companies are listed on the stock exchange.
Given the rapid growth of Wuxi's IoT and manufacturing industries, the city was named China's first pilot area for developing IoV, which has been seen as the key to relieving pressure on transportation systems, reducing energy consumption and minimizing carbon emissions.
During the three-day event, Wuxi also signed agreements to deepen cooperation with Chinese telecom giants ZTE and Huawei, as well as PingAn Group, a leading firm in the domain of artificial intelligence.
The three companies will attract more related projects to Wuxi and accelerate the transformation and upgrading of traditional industries in the city, according to officials.
