The three-month-long 2020 World Internet of Things Exposition concludes with an award ceremony on Nov 18. [Photo from the World Internet of Things Exposition]

The three-month-long 2020 World Internet of Things Exposition (WIoT), which began in August, came to an end on Nov 18 and proved to be a major success.

The event, held since 2016, has become the largest and most influential event in the internet of things (IoT) industry.

This year's event was held both online and offline in light of the COVID-19 pandemic.

The annual announcement of new technologies, products and applications in the IoT industry was held on Nov 18.

A total of 1,625 projects participated in the competition, including many by Fortune 500 companies such as China Telecom, China Mobile, China Unicom, Siemens, Bosch, Huawei, JD.com, Infineon and Ericsson, as well as international enterprises from countries such as Switzerland and Ireland.

Wang Xiang, president of Chinese technology giant Xiaomi Corp, delivers a speech at the event. [Photo from the World Internet of Things Exposition]

Wuxi, which has been developing its technology-based industries for the past ten years, has become an industrial leader by relying on advanced technology, specifically IoT.

The city is home to a complete IoT industrial chain of more than 3,000 companies producing sensing chips, network communication equipment, and application products. Their operating revenue surpassed 280 billion yuan ($40 billion) in 2019.

To date, Wuxi has established 145 state-level technological innovation carriers which have submitted more than 10,000 patent applications. Wuxi enterprises had a role in formulating more than half of international standards in the industry. International IoT projects are being carried out by Wuxi enterprises in over 830 cities and 72 countries around the world, according to officials.

"The window period for data to promote industrial transformation and upgrading has arrived," said Chen Dapeng, director of the Wuxi internet of things innovation promotion center.

"IoT brings together a variety of technological applications such as data mining, transmission, and application, and also promotes industrial informatization and intelligence, which is great for economic development," Chen added.

An exhibition hall of the National Jiangsu (Wuxi) Internet of Vehicles Pilot Zone Exhibition Center. [Photo from the World Internet of Things Exposition]