Wuxi rolls out incentives to spur growth of new industry

Policies released to prioritize the role of internet of things

Wuxi has given priority to the internet of things industry, to develop strategic emerging industries and promote the upgrade of other local industries, according to Li Xiaomin, Party chief of the city in East China's Jiangsu province.

Li said that the operating income of the IoT industry in Wuxi last year was 243.7 billion yuan ($35.6 billion), accounting for approximately 50 percent of the sector's total of Jiangsu province and 25 percent of the whole country in this field.