The cooperation agreement of World Sensing Net Group and Venustech Inc is signed in Xinwu district, Wuxi on April 26. [Photo provided to chinadaily.com.cn]

The pioneering Chinese internet of things (IoT) company World Sensing Net Group (WSN) signed a cooperation agreement with leading security services provider Venustech Inc to promote the construction of the security ecosystem in the IoT industry in Wuxi on April 26.

According to the agreement, the two companies will cooperate in fields such as IoT security standards, IoT smart transportation and IoT finance.

"Venustech is a top provider of network security solutions, we will work closely with Venustech from the top-level design of the IoT security to the collaborative security of IoT terminals to fill the gap in the international standardization of IoT security," said Liu Haitao, president of Wuxi IoT Research Institute and chairman of WSN.

Liu and his team from WSN have been carrying out IoT research since 1999, with many achievements made in IoT theory, technology, standards and application fields. The international standard for IoT architecture (ISO/IEC 30141-2018) led by WSN was officially released in 2018, marking the company's transformation from a follower to a leader in its field.

According to Liu, network security is only a tiny part of IoT security and WSN is open-minded to cooperate with strong companies in different fields to better expand IoT application. "As IoT applications have been widely used, information security now needs to step forward into its terminals. IoT security is much more practical as it get entities involved. The greater fields IoT tapped into, the more emphasis is placed on the importance of security," Liu explained.

World Sensing Net Group and Venustech Inc will cooperate in fields such as IoT security standards, IoT smart transportation and IoT finance. [Photo provided to chinadaily.com.cn]

Venustech is the first listed private network security enterprise in China, and founded its Wuxi branch, focusing on the research of IoT security in 2018. "WSN is a leading IoT company and Venustech has been working in the field of network security technology for more than 20 years. Both of us will cooperate in various aspects and contribute to the development of the IoT industry in Wuxi," said Ouyang Meiwen, president of Venustech. The agreement marks a big step for the development of the IoT industry development in Wuxi and many local officials attended the signing ceremony and shared their expectations for the two companies.

"With the development of the IoT industry, the ecosystem of sub-divisions is gradually taking shape. As the national innovative demonstration zone for the IoT industry, Wuxi will focus on information security, artificial intelligence, and vehicle networking in the future. We hope the two sides of the agreement will play out their respective advantages in the construction of the IoT security ecosystem and help Wuxi develop into a smart city", said Zuo Baochun, deputy director of the Wuxi Municipal Data Management Bureau.

Zhu Xiaohong, deputy head of Xinwu district, expected the two sides to integrate industry resources to promote production and make their cooperation a shining example of Wuxi's IoT security development and show the great potential of Wuxi to the world.