Wuxi's Huihaiwan IoT town to get on fast track

The construction of an internet of things (IoT) core industrial base in Huihaiwan town, Wuxi National Hi-tech District (WND) commenced on May 18.

With an investment of 2.2 billion yuan ($309.5 million), the State-run technology enterprise China Electronics Technology HIK Group Co Ltd (CETHIK) will build the industrial base and designate it as its second headquarters integrating related enterprises and innovative resources.

The industrial base aims to promote the construction of an industrial eco-system focused on chips, microsystems and modules for IoT applications. This eco-system will also feature STT-MRAM technology applications and edge computing as its core.

Wuxi has always focused on building a good eco-system for the development of the IoT. Huihaiwan town can provide a favorable environment for this development by extending the industrial chain, according to Cheng Yu, general manager of CETHIK.

In 2019, the total revenue of the IoT industry in WND surged 16 percent year-on-year to exceed 180 billion yuan ($16.6 billion), accounting for over 60 percent of the city's total. The WND is home to 1,300 enterprises and 60,000 professionals striving to turn the district into a highland for IoT industry in China.