China plans to create champions in the emerging internet of things (IOT) industry by 2015, Shanghai Daily reported Wednesday. The initiative will focus on application and research to establish a strong industry chain, Vice Premier Ma Kai was quoted as saying. China faces hurdles in developing IOT because it lacks the core technology and has no domestic champions the likes of Google Inc. or or Apple Inc., the report said. IOT links different devices on the internet to create a hub that will revolutionize homes, businesses and institutions.
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