The Mashan smart bus commercial platform is launched during the forum focusing on the innovative development of smart transportation and the internet of vehicle in Binhu district, Wuxi on Oct 22. [Photo provided to chinadaily.com.cn]

A forum focusing on the innovative development of smart transportation and the internet of vehicles opened in Binhu district in Wuxi, East China's Jiangsu province on Oct 22.

The two-day event was attended by more than 400 experts and entrepreneurs from home and abroad who discussed the development of the smart transportation industry and related safety standards.

Taihu Lake Bay IoV Technology Innovation Center was inaugurated on the same day and it is expected to serve IoV companies, as well as cultivate talents with universities in Binhu.

The Mashan smart bus commercial platform was also launched during the forum. It will further improve the traffic management of Wuxi (Mashan) Taihu National Tourist Resort, as well as support the integration of smart infrastructure and IoV.

Binhu district houses the national smart transportation comprehensive test base and is designated as a municipal-level demonstration area of LTE-V2X IOV technology.

After years of development, the district has formed a relatively solid industrial foundation and is ranked among the forefront in the IoV industry in China.

In May, Binhu rolled out measures to support the development of the Taihu Lake Bay Technological Innovation Belt and these measures include special support policies for the IoV industry.

A total of 20 million yuan ($3.13 million) will be offered to IoV companies that start operating in the district.