High-tech district draws record capital

The output value of the IoT industry at the WND has developed at double-digit growth for years.

"IoT is an important part of the digital economy and provides key support for transformation and upgrading of the manufacturing industry," Wang said.

Tancheng IoT, a company based in the WND focusing on upgrading traditional transportation, began adding GPS and other sensing equipment on vehicles to its product portfolio in 2008. The vehicle driving tracks and transportation statuses will be uploaded into a system. After big data analysis, the system helps truck drivers obtain orders and plan their routes. The company launched an initial public offering in 2016 and has become one of the leaders in the industry.

The WND's IoT industry has become a development highland nationwide. The district plans to reinforce its position in the industry with increased international influence, Wang said.

To date, the WND has gathered leading IT companies, including Alibaba, which launched the Feifeng platform in the district, focusing on big data and cloud computing; Chinese home appliance maker Haier, which set up China's first radio frequency identification industrial chain; and Shanghai Huahong Integrated Circuit, which invested $10 billion to build a manufacturing center to develop intelligent chips and microcontroller chips.

National scientific research institutes and innovation platforms from the Chinese Academy of Sciences, Tsinghua University and Shanghai Jiaotong University have become involved in the district.

To attract global innovative companies and professionals, the district said in May it would invest 500 million yuan in a human resources fund, 600 million yuan in a technology fund and 10 billion yuan in an IoT special fund every year.

At the same time, authorities plan to add professional service teams, launch a promotion mechanism for innovation demonstration projects and offer experts brought in to the district "green channels" for medical services, schooling and housing.

The WND also set up an IoT industry research institution in 2009 to help solve financing problems, which has served more than 270 small and medium-sized manufacturing enterprises.