Deals worth more than 31.2 billion yuan (about US$4.3 billion) are expected to be signed at the 2024 Internet of Things (IoT) World Expo, which kicked off on Monday in Wuxi, a leading city in China’s IoT industry.

Hundreds of companies, including Huawei and China Mobile, are participating in the exhibition, which covers an area of nearly 35,000 square metres.

The event is expected to witness the signing of 33 projects in areas such as advanced manufacturing and low-rise economy, with a total investment of more than 31.2 billion yuan.

The three-day event will feature competitions and exhibitions on the latest IoT applications and topics such as smart sensing, industrial internet and artificial intelligence.

Wuxi has become a leading city in China’s IoT industry, and the latest statistics show that the size of the city’s IoT industrial cluster has exceeded 450 billion yuan, up 13.2 per cent year on year, while the city has formed a complete industrial chain in this field with more than 3,000 enterprises.