China’s Internet of Things sector exceeds RMB 900 billion

China’s Internet of Things (IoT) industry has seen its output value exceed RMB 930 billion ($142 billion) in 2016, up from RMB 170 billion in 2009, according to the vice minister for Industry and Information Technology.

IoT is the concept of linking more everyday items and appliances, wearable devices and vehicles as well as industrial equipment to each other and the internet via sensors and data exchange.

China’s IoT sector is growing fast, with a compound annual growth rate of over 25%, said the vice minister, Luo Wen, at the World Internet of Things Exposition in Wuxi, near Shanghai.

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