High-tech life draws US$1.6b investment

SHANGHAI plans to invest 10 billion yuan (US$1.59 billion) in the next five years in the Internet of Things technology and strategic industries so that residents will be able to enjoy a high-tech life.

The investment in strategic industries will cover mass-volume integrated circuits, cloud computing, new-energy cars and smart grids, Dai Haibo, director of the Shanghai Municipal Commission of Economy and Information Technology, said yesterday in Shanghai.

The city achieved an output value of 100 billion yuan for the Internet of Things in 2012, and this is expected to jump 50 percent annually by 2015, according to Dai.

The Internet of Things refers to the ability to connect various devices through a network which then allows consumers to program washing machines, refrigerators and air conditioners via mobile devices, wearing a Google Glass or a watch.

Shanghai plans to construct 16 smart communities which will adopt the Internet of Things technology, including some in Lujiazui and Biyun regions in Pudong New Area.

Meanwhile, Shanghai will build 1,000 4G (fourth generation) base stations citywide by 2013, which provide mobile phone users an Internet access speed of 20 to 50 times.