The IoT industry has developed into the largest industrial cluster in Wuxi, East China's Jiangsu province, local media reported.
China's banks have been pouring more funds into agriculture and rural areas this year as the country seeks to advance rural vitalization.
A groundbreaking ceremony for a smart battery manufacturing base worth 10 billion yuan ($1.37 billion) was held in Wuxi on Sept 26.
Wuxi in East China's Jiangsu province leads the province in the number of top 500 Chinese businesses, manufacturers, and service providers.
A group of German managers of small and medium-sized enterprises (SMEs), who are members of a Sino-German exchange program, visited the Wuxi National Hi-tech District, also known as Wuxi New District, on Sept 18.
Foreign business executives say China's growth this year will outpace most major economies.
The signing ceremony for Japanese multinational THK's linear motion guide devices manufacturing base took place in Wuxi on Sept 6.
Wuxi authorities published 22 measures on Sept 5 to enhance high-quality development and stabilize economic recovery, according to a press conference.
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