NANJING - Deals worth over 31.2 billion yuan (about $4.3 billion) are expected to be inked at the 2024 World Internet of Things (IoT) Exposition that kicked off Monday in Wuxi, a pioneer city of China's IoT industry.

The three-day event includes a competition, an exhibition featuring the latest IoT applications and products, and several conferences focusing on themes like intelligent sensing, industrial internet and artificial intelligence.

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Hundreds of enterprises, including the State Grid, Huawei, and China Mobile, have been drawn to participate in the expo, which covers about 35,000 square meters.

It is expected that 33 projects in fields like advanced manufacturing and low-altitude economy will be signed during the event, with a total investment exceeding 31.2 billion yuan.

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Wuxi has become a navigator of the IoT industry in China. The latest statistics show that in 2023, the scale of the IoT industrial cluster in Wuxi surpassed 450 billion yuan, a year-on-year increase of 13.2 percent, and a complete industrial chain with over 3,000 enterprises has taken shape in the city.