Officials from Liyuan Economic Development Zone in Binhu district explain that the 2019 summit will center on cooperation between Wuxi and Taiwan. [Photo provided to chinadaily.com.cn]

The 2019 Wuxi Taihu Lake "Chip" Summit and 2019 Wuxi - Taiwan IC Design Industry Development Forum will be held on May 11 in Binhu district in Wuxi, officials announced at a press conference on May 6.

Focusing on the R&D of domestic autonomous controllable chips, the summit aims to provide a platform for integrated circulate (IC) design and related companies to explore future industrial development. This year, the summit will center on the application of 5G technology, internet of things (IoT), autonomous vehicles and other fields within the IC design industry.

With greater communication and cooperation between Wuxi and Taiwan, the 2019 summit will also see an increase in the number and level of attendees, with over 500 experts and scholars due to attend. A wider range of activities will be held including roundtable conferences and entrepreneur roadshows.

Binhu district has set up an industrial development fund totaling 2 billion yuan ($295.02 million) to encourage and attract entrepreneurs, aiming to boost the IC industrial development in Wuxi.