Technology - An integrated approach to drive China’s technology development

■ The Chinese government recently issued the Three-year Action Plan for the Construction of Internet of Things (IoT) New Infrastructure (2021-2023). ■ The action plan set some targets to be met the end of 2023, such as: 1) promoting 10 IoT incumbents, each with revenue of over Rmb10bn, 2) 2bn IoT connections, and 3) formulating and revising more than 40 national and industry standards. ■ The IoT is a type of new infrastructure that provides information services such as perception, transmission and processing, and uses perception technology and network communications technology as the main means to realize the ubiquitous connection of people, machines and things. ■ We believe that Chinese government will drive investments in IoT space to boost the development of technology such as 5G, optical communications, cloud and edge computing, and IC design. ■ This report is an introduction to the Action Plan; updates will be released going forward.