China's Internet of Things industry exceeds 900b yuan

NANJING - China's Internet of Things (IoT) industry has seen its output value exceed 900 billion yuan ($140 billion), with a compound annual growth rate of over 25 percent, a senior official said Sunday.

With a huge market, a complete industrial chain and the world's biggest mobile telecommunications network, China will soon take the lead in some frontier IoT sub-sectors, Vice-Minister of Industry and Information Technology Luo Wen said during an IoT expo in Wuxi, Jiangsu province.

IoT connects traditional devices, including home appliances, to the internet.