A signing ceremony for the establishment of Wuxi Big Data Co is held in Wuxi National Hi-tech District on Sept 22. [Photo/WeChat account: xinwu_wx]

Wuxi Big Data Co was launched in Wuxi National Hi-tech District on Sept 22.

The company was jointly built by the Wuxi Internet of Things Innovation Promotion Center and Aerospace Daway Technology Co, with a registered capital of 50 million yuan ($7.74 million) and a total investment of 100 million yuan in the first phase.

The company will work as a big data asset operator, a big data industry ecosystem service provider, as well as a new smart city investment, construction, and operation service provider in Wuxi, striving to guide the social development and utilization of public data resources driven by scenarios, according to officials.

The company will continue to promote the construction of an industrial big data integration innovation center and a city operation management center, aiming to become a leading professional public data operator and a data-driven smart city leader.

The company is also expected to support modern governance of the city, as well as promote the development of the IoT and big data industries.

Jiang Min, director of Xinwu district, said that the company is expected to help support the development of the big data industrial ecosystem in WND. WND will also give full support to the company's various projects.