2018 World IoT summit begins in Wuxi aims to boost technology

Wuxi: The 2018 World Internet of Things Exposition, is taking place in Wuxi, Jiangsu province from Sept 15 to 18.

A total of 526 exhibitors from 20 countries and regions are taking part, 35 of which are Fortune Global 500 companies. They're showcasing IoT applications for communication and platform support systems, smart manufacturing and sensors, smart daily life, smart transportation, and smart cities, as well as the Internet of Vehicles.

"The internet of things is a crucial support for digital economic growth," Miao Wei, minister of industry and information technology, said on Saturday during the ongoing World Internet of Things Expo in Wuxi.

"Embracing the IoT will bring new opportunities for economic and social development, as it helps give impetus to industrial transformation and upgrading and promotes energy saving and emission reduction as well as streamlined management."

“Blossoming new technologies are driving the rapid development of the IoT, including artificial intelligence, block chains, cloud computing, and 5G," said Yang Jie, chairman of China Telecom Corp.

The Key speakers also highlighted that China is sharing technology with Belt and Road countries and willing to share more regarding IoT and AI. A total of 1,128 projects have been collected from home and abroad, 61 of which has been awarded during the opening ceremony.

Covering an area of 50,000 square meters, the four-day expo is mounting five themed exhibitions featuring the latest cutting-edge IoT technology. Renowned domestic and foreign industry leaders, including Microsoft, China Telecom, Huawei and JD.com, are sure to attract plenty of visitors during the exhibition.

IoT, the concept of connecting electronic devices such as speakers and refrigerators to the internet, is expected to create the market value of more than 1.5 trillion yuan ($218 billion) by the end of 2018, the Annual IoT Industry Development Report of China (2017-2018) forecasts.

The world's first city-level Internet of Vehicle LTE-V2X (vehicle to everything) application demonstration area will also be officially presented to the public as part of the exhibition on September 15.

The 2018 World Internet of Things Exposition promises to showcase the latest products, models, and development trends related to the IoT and advance its integration with traditional industries.