The first draft of a document advising on the development of the Internet of Things industry according to the 12th Five-Year Plan has been completed.
The final version is due to be released by the end of July after going through a consultation period.
Officials from the Ministry of Finance said new incentives for the sector will be proposed.
The move comes amid calls for more funding for the capital-intensive sector. A current government fund for the sector has this year made no more than 600 million yuan ($92.66 million) available – too little, according to some experts.
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