Wuxi set to grow its IoT ecosystem

Editor's Note: Until a few years ago, economic stagnation bedevilled Wuxi, a city in East China's Jiangsu province. Now, for the first time, the local GDP exceeds 1 trillion yuan ($159 billion). This remarkable transformation came about on the back of industry upgrade. Based on extensive tours and interviews with key stakeholders, China Daily reporters capture the fascinating multifaceted story.

After inviting a host of industrial leaders and projects, Wuxi, a city about 130 km west of Shanghai, is ready to make 2018 a milestone year for the development of the internet of things or IoT.

Located in south of coastal Jiangsu province, Wuxi is already home to more than 2,000 IoT firms. By 2016, revenue from the IoT field exceeded 200 billion yuan ($31.6 billion), accounting for 45 percent of IoT revenue for the Jiangsu province and 24 percent of IoT revenue for China, according to Hong Kong-based Chinese-language newspaper Wen Wei Po.