NANCHANG, Oct. 24 (Xinhua) -- New enterprises in the Internet of Things (IoT) industry have sprung up in east China's Jiangxi Province in the past year, with 3.5 newly registered every day, the local market regulator said Thursday.
A total of 828 IoT companies have been registered in Jiangxi since last October when the provincial government implemented policies and measures to step up efforts to develop the IoT industry.
It was a 57.7 percent year-on-year increase, more than six-fold of the growth of an average number of business registrations in Jiangxi over the same period, according to the provincial administration for market regulation.
About two-thirds of the new IoT companies have a registered capital of over 1 million yuan (about 141,595 U.S. dollars), among which 20 started up with 100 million yuan or more, the department said, noting that more than half of the companies are engaged in software, information transmission and technology services.
Jiangxi is seeking to build a new generation of mobile IoT and communication networks, as well as cloud data centers based on open architecture by 2020.
China has seen tremendous growth in the IoT industry in recent years. In 2018, the revenue of the industry rose around 73 percent year on year, according to a report from the Ministry of Industry and Information Technology.
