IoT industry booming in Wuxi

A boy experiences IoT and 5G applications at the 2021 World IoT Expo in Wuxi on Oct 23. [Photo/wiotexpo.cn]

A total of 82 key projects worth over 25.1 billion yuan ($3.92 billion) were signed during the four-day 2021 World Internet of Things Exposition in Wuxi, East China's Jiangsu province from Oct 22 to Oct 25.

The newly signed projects focus on key areas in the IoT industrial chain, innovation chain and value chain with investment from China Aerospace Science and Industry Corporation, China Electronics Technology Group Corporation, Qualcomm and Tencent.

Wuxi also signed agreements to establish the country's first fund of funds for the internet of vehicles industry valued at over 10 billion yuan, and industry funds totaling 2.5 billion yuan for IoT, artificial intelligence, and intelligent manufacturing.

During the four-day event, over 8,500 domestic and foreign academicians, experts, industrial insiders and enterprise directors discussed cutting-edge technologies, applications and future trends in IoT-related industries.

Participants of the 2021 World IoT Expo Makers Competition watch their robots' perform on Oct 23. [Photo/wiotexpo.cn]

The exhibition of IoT applications and products, which runs from Oct 22 to 25 at the Wuxi Taihu International Expo Center, displayed the latest technologies and applications in IoT, 5G communications, IoV, artificial intelligence, and industrial internet from 516 enterprises in 21 countries and regions from all over the world.

At the exhibition, Bosch showcased the first fully automatic production line in the smart wearable industry in China. Wuxi Boton Technology Co released the world's first naked eye mixed reality product SPACE 1, which can realize the integration and application of the world's most advanced virtual reality technology for industrial production.

The exhibition's online version witnessed over 600,000 views by displaying IoT products, livestreaming and organizing online matchmakings. This year's expo also provided exhibitors with an online trading platform under e-commerce site JD, which helped to increase the turnover by 1.4 times compared with the same period last year.