China Mobile plans to give $303 million in Internet of Things subsidies to help fuel IoT advancement.
Li Yue, president of China Mobile, said on Friday that half of the cash will be used to finance companies which make narrow-band IoT modules.
The other half would go to 4G IoT module makers.
The cash subsidy is designed to lower the costs of IoT devices and accelerate the application of the industry.
China Mobile aims to enable 120 million internet connections, including home appliances, vehicles, and water and gas meters
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Sources: Inside, China Mobile, China Daily