Industrial IoT key to digital transition

More policy support is expected to address weaknesses in the development of the industrial internet of things (IIoT), with an emphasis on market-driven forces, product maturity and ecosystem construction, to boost the digital transition of manufacturing, said an executive.

Liu Jiang, a deputy to the 14th National People's Congress and chairman of Sichuan Changhong Electronics Holding Group Co Ltd, said concrete measures are expected to strengthen data governance, promote technological upgrades in data sharing and refine market mechanisms for a more efficient use of data and healthier development of the IIoT market.

Meanwhile, Liu said efforts should be made to facilitate cross-sector collaboration and industrial convergence, encouraging deep cooperation among platforms to create a complementary, mutually beneficial IIoT ecosystem.

The remarks came after this year's Government Work Report underscored the importance of building a modern industrial system, promoting digital transition of the manufacturing sector and accelerating the mass application of IIoT.

"The intelligent transformation of manufacturing is an inevitable path to drive high-quality development of the sector. Digitization serves as a distinctive feature of the new industrialization which the government is currently promoting and a crucial direction for an upgrade of the manufacturing sector," said Tang Dongsheng, a member of the 14th National Committee of the Chinese People's Political Consultative Conference and vice-chairman of the CPPCC Foshan committee in Guangdong province.

China's IIoT has entered a new stage of large-scale development with a market scale expected to reach 1.35 trillion yuan ($188 billion) by 2023, propelling related industry investments exceeding 170 billion yuan, said the Ministry of Industry and Information Technology. Meanwhile, the number of listed companies in the IIoT sector has continued to grow for seven consecutive years, reaching a cumulative total of 300 by the end of last year.

However, IIoT development still faces challenges in the advancement of integration between the digital and real economies. For instance, there is room for improvement in some companies' data collection processes and data quality. Some companies need to broaden data application scenarios, and certain procedures such as confirmation of legal rights of owners of digital assets need further refinement.

To address these challenges, Liu suggested establishing unified data collection standards and processes to ensure data accuracy and consistency. Efforts are also needed to develop a data quality assessment system to strengthen data quality management. Furthermore, it is important to expand data application scenarios and continue to refine rules and standards for smoother trade of digital products and digital assets.

In recent years, Sichuan Changhong Electronics Holding Group Co Ltd has successively upgraded and transformed 65 factories worldwide into intelligent facilities. Moreover, the company has established Sichuan's first national-level cross-industry IIoT platform, empowering eight industries and nearly 100 enterprises for digitalization.