China News, 5/16/12
A group contract signing and project launch ceremony was held yesterday in Wuxi for a number of sensor R&D, smart communications, cloud computing, and e-commerce projects at the Wuxi (Binhu) National Sensing Information Center. Total investment for the projects will be RMB 4 bln, RMB 2.2 bln of which will go to five projects, including China Unicom's (NYSE: CHU; 0762.HK; 600050.SH) M2M (Internet of Things) R&D base.
Investment in M2M projects of all categories has reached RMB 60 bln in Wuxi. The city plans to complete construction on a sensor network demonstration base by the end of 2012 with the goal of paving the way for development of the industry in Wuxi, which it expects to be valued at RMB 100 bln. By 2015, the city expects the local M2M industry to have an industry value of RMB 250 bln.