Chint Group, China's leading industrial electrical equipment and new energy enterprise based in Wenzhou, launches Chint Cloud, an industrial internet platform on Sept 10. [Photo provided to ezhejiang.gov.cn]

Chint Group launched Chint Cloud, an industrial internet platform, during the conference. The platform, with smart technologies and data, is mainly for the digital applications and services of the company. As a result, Chint has formed a "one cloud, two networks" system, which is expected to benefit the transformation and upgrading of its businesses.

"The internet of things is generating new development drivers," said Nan Cunhui, chairman of the group. 

In recent years, Wenzhou has made the digital economy a priority and put together a five-year plan. In 2018, the value added of the sector reached 42.15 billion yuan ($5.93 billion), up 14.6 percent year-on-year. The value of IoT related industries in the city is now 25.2 billion yuan, official data revealed.