Fund created
By Zhu Shenshen |
May 19, 2011, Thursday
|
Print Edition
Print Edition
SHANGHAI has established a 500 million yuan (US$75.8 million) fund on Internet of Things, Shanghai Daily learned yesterday.
"We have just finished raising money for the fund, with some coming from government direct investment," said Qin Xi, director of the Shanghai Internet of Things Investment Fund.
The government-led fund will be poured into transport, in-vehicle communications system, logistics and digital medical services, Qin said.
Internet of Things, one of the major projects in the city's 12th Five-Year Plan, refers to wireless connections among various devices, such as cars and home appliances. It's widely used in the mobile payment, smart transport and modem medical sectors.
"We have just finished raising money for the fund, with some coming from government direct investment," said Qin Xi, director of the Shanghai Internet of Things Investment Fund.
The government-led fund will be poured into transport, in-vehicle communications system, logistics and digital medical services, Qin said.
Internet of Things, one of the major projects in the city's 12th Five-Year Plan, refers to wireless connections among various devices, such as cars and home appliances. It's widely used in the mobile payment, smart transport and modem medical sectors.
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