| "IBM and Google are doing the same research we are, but our works are better tailored to the needs of the Chinese market," said Chen Dapeng, a chief engineer of IoT industry. "The big markets in China also gave us considerable power in setting international standards for the industry."
Thanks to the central government"s support after Wen"s arrival four years ago, almost all major cities in China regard IOT as a key emerging industry to support.
More than 100 universities in the country have started IOT departments or research institutes in the past three years.
The industrial park in Wuxi has dozens of IOT enterprises, which vary from big firms, to small workshops run by teams of several young technicians. All of them focus on the application of IOT, especially in low-end market niches such as anti-theft systems on electric bicycles. None focus on making their own high-level sensors, chips and servers, which are core technologies of the industry.
The scale of the IOT market of China rose from 260 billion yuan in 2011 to about 500 billon yuan last year, according to the China IOT Research Center.
It is easier for IOT enterprises to get bank loans in Wuxi. And the city government invited the main State-owned telecommunication companies and key universities to build their IOT applications and research branches in its 7.5-square-kilometer IOT model industrial zone.
The government has an ambitious plan for the IOT industry. By 2020, overall government investment in the industry will hit 10 billion yuan, and there will be 1,500 IOT enterprises in Wuxi with 150,000 employees.
The whole industry"s output will hit 150 billion yuan in 2020, accounting for more than 10 percent of the city"s projected economy then.
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