A signing ceremony between Kingsoft Cloud and Wuxi's Liangxi district is held on Nov 20. [Photo/wxrb.com]

Beijing-based cloud service provider Kingsoft Cloud inked a deal to develop its internet of things (IoT) industry in Wuxi's Liangxi district on Nov 20.

According to the deal, Kingsoft Cloud will build its IoT headquarters in Wuxi, including an exhibition center, big data center, AIoT research and development center, industrial internet research and development center, and digital finance service center.

Kingsoft Cloud is among the top three internet cloud service providers in China. The company has built a robust cloud computing infrastructure and operation system and has used technologies such as artificial intelligence, big data, IoT and blockchain to help transform and upgrade sectors such as finance, data, industry and education.

Wang Yulin, CEO of Kingsoft Cloud, was optimistic about the company's development prospects in Wuxi thanks to its efforts in smart city construction and industrial transformation and upgrading.

Wang said that the company will strive to introduce more talent and innovative achievements to Wuxi, as well as cooperate with local enterprises on IoT development.

Liangxi district has been working to develop its digital economy in recent years, according to officials. A total of 16 related projects worth over 10 billion yuan ($1.5 billion) have been introduced to Liangxi district in 2020, including the Wuxi 5G Big Data Innovation Park.