China’s Richest Man Bets On IoT

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First he built a real estate empire, then he crafted an entertainment business, then he dove into banking, and now China's richest man is jumping into the Internet of Things.

Wang Jianlin, chairman of Wanda Group, says Wanda's latest foray into technology is the company's fourth major transformation. This IoT focus is part of the company's split into four major industrial groups: commercial, cultural, network technology, and financial. Previously the company had three groups of commercial, cultural, and financial.

The newly established Wanda network technology group was separated from Wanda financial group and it will focus on the fusion of online and offline resources to create a new-generation Internet of things model. The new network technology group includes several companies such as,, and Heading.

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