On March 26th, 2014, WIOT signed strategic cooperation framework agreements with 19 Hungarian enterprises including TESCO. Plenty of local enterprises in Shunde District signed contracts with relevant enterprises of the Hungarian delegation, which provides new opportunities for future internationalization of enterprises in Shunde District.

Under the agreements, Chinese and Hungarian enterprises will strongly combine with each other to integrate mutual resources to develop Chinese and European markets. It is said that Hungary is the third largest trade partner of China in Central and Eastern Europe. According to customs statistics, Sino-Hungarian bilateral trade volume in 2013 was as high as 8.41 trillion USD, with the year-on-year growth of4.27%.

Yan Feng, President of WIOT Technology Group Co., Ltd. believed that cooperation with Hungary will bring new technologies, capital and new business model to China. While at the same time Hungarian enterprises can open the Chinese market through product localization.

Established in 1962 in Hungary, TESCO International Cooperation and Consulting Services Co. Ltd. has a history of more than 50 years, playing an important role in international business and international cooperation. Through technological research and development and technological services, turnover of TESCO in Europe, North Africa and Middle East has reached several trillion RMB. As for the reason for the cooperation with WIOT, TESCO Group expressed that they wanted to provide practice for the development of IOT, transfer European technologies to China, create more comfortable environment and participate in joint development of products and technologies of this kind. Other European enterprises considered WIOT the Chinese leading operator of smart city with advanced cooperative concepts and therefore can provide thorough services for them.

Invited by WIOT, the Hungarian delegation reached Shunde District on March 23rd and had one-to-one project networking activity with Foshan New City and local enterprises in Shunde on 24th and 25th. Led by 4 Hungarian officials including Dr. Reka Szemerkenyi, Senior Advisor of the Hungarian Prime Minister’s office, there were totally 40 executives from 21 enterprises of the Hungarian delegation.

Representatives of the Hungarian delegation were all persons-in-charge of the top enterprises in fields like car manufacturing, machine and information technology, food, water treatment, renewable energy resource and agriculture etc, who had strong intention to invest in and cooperate with Foshan City. During this visit and project networking activity, the delegation focused their visit on Industrial Park of WIOT. It is known that Industrial Park of WIOT bears the mission of building “Guangdong Industrial Base of IOT Application”, which is the first national industrial base of IOT application with the target of industrialization application. Adopting the new developmental model of “government support, enterprise orientation, government-enterprise linkage”, the Base strives to develop the theme industry with a core of IOT. At present, the Park has gathered more than 80 IOT-related enterprises. After the merging of Foshan New City and Lecong Town, WIOT hopes to share resources and complement advantages with Sino-German Industrial Services Zone to mutually promote economical development in Foshan.