The Chinese municipality of Chongqing and telco giant China Unicom have announced a multi-billion dollar partnership of investment and tax breaks aimed to create as much as $7 billion in annual revenues within five years from what's called the Internet of Things.
to a report in Near Field Communications World, "Under the terms of the agreement, China Unicom and the municipal government will also jointly establish an NFC [Near Field Communications] Industry Alliance while China Unicom will establish a research facility specialising in the Internet of Things..."We reported last month that the national government of China is also developing a national Internet of Things plan. China could take the lead, and Chongqing could try to become the next Silicon Valley.
Source: ReadWriteWeb
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