Business· TMT

China’s tech giants forms an Internet union to boost the development of Industrial Internet

minutes 2019/07/05 07:22:32
Industrial Internet, hi-tech companies, China-US trade war, Tencent, Huawei

Jul 05, 2019 (China Knowledge) - China’s largest hi-tech companies including Huawei and Tencent have established the Shenzhen Industrial Internet Union in the southern coastal city Shenzhen. The union is aimed at facilitating the development of new technologies and business models for the Industrial Internet era.

Industrial Internet is the integration and linking of big data, analytical tools and wireless networks with physical and industrial equipment. The development of the Industrial Internet is in line with China’s goal to upgrade its industries, making their technologies more competitive on the global stage.

Wang Lixin, Shenzhen’s vice-mayor, said that the development of the Industrial Internet is a national strategy which requires cooperation from respective stakeholders.

State-owned telecommunications operator China Unicom and the world’s largest electronics contract manufacturer Foxconn are also in the team to build up the government-backed union.

Shenzhen is the incubator of China’s most advanced technologies, such as artificial intelligence (AI), drones, electric batteries to robotics and 5G mobile systems. Many Chinese tech companies including Huawei, ZTE, Tencent and BYD are based in Shenzhen.

The initiative of building the Industrial Internet Union comes after the city finds itself affected by the fallout of the China-US tech and trade disputes. Some Chinese hi-tech companies including Huawei are barred from conducting business with American firms by the US government.

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