Chinese tech giants form alliance to help advance industrial internet initiatives in the country – South China Morning Post
What happened: Chinese tech giants including Huawei, China Unicom, Foxconn, and Tencent have joined the the Industrial Internet Union led by Shenzhen’s Information Technology Industrial Association. Shenzhen, often referred to as China’s high-tech hub, aims to drive the development of new technologies and innovative business models for the industrial internet era. Part of its focus will be boosting the adoption of consumer and industrial applications that leverage next-generation wireless networks, big data, AI, and the internet of things (IoT).
Why it’s important: The alliance comes after China locks horns with the US in the ongoing trade war. The US has blacklisted many Chinese companies which specialize in core technologies including Huawei citing national security, preventing them from purchasing hardware, software, and services from US suppliers. China has been eager to become a leader in emerging technologies, and advancements in areas like the industrial internet is regarded as a crucial part of its national strategy.