CHINA will invest heavily to support the new Internet of Things industry by forming 10 special industrial zones and 100 firms with core technologies nationwide by 2015.

The Internet of Things refers to wireless connections among various devices such as cars and home appliances. The revenue in the industry was 200 billion yuan (US$32 billion) in 2010, the Ministry of Industry and Information Technology said yesterday on its website.

It's now used in the security, electricity, transport, logistics, medical and environment sectors in China. Generally the Internet of Things in China is still in the infancy stage but with a great potential in the future, the ministry said.

China may have 500 Internet of Things technologies by 2015 under the 12th Five-Year Plan. It will offer favorable tax and financial policies.

Source:chinesestock