BEIJING, March 14 (Xinhua) -- The concept stocks of a new kind of smart grid with the Internet of Things (IoT) technology continued to be strong Tuesday in China's stock market, with the index growing 7.94 percent and shares of more than ten companies including Minjiang Hydropower surged by the daily limit of ten percent.
The new kind of smart grid with the IoT technology, proposed by the State Grid Corporation of China (State Grid), integrates the technology of 5G and IoT in power industry system.
According to Kou Wei, chairman of State Grid, the smart grid with the IoT technology will provide a smart service system with the characteristics of comprehensive state awareness, efficient information processing and convenient and flexible application by using modern information technology such as mobile Internet and artificial intelligence and advanced communications technology.
2019 will be the first year of investment in this new kind of smart grid with the IoT technology, and the annual investment of State Grid will increase from 10 billion yuan to between 40 billion yuan and 60 billion yuan, estimated by Industrial Securities. (Edited by Tong Wei, tongwei@xinhua.org)
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