IBM and China Electronics Corporation jointly announced that they will establish a joint innovation lab and begin in-depth cooperation.

The joint innovation lab is based on the collaborative innovation model of IBM and its partners. It will combine technology and talent resource advantages of IBM and its partners such as CEC to help those partners break innovation barriers.

IBM and CEC plan to apply big data and Internet of Things technologies to product development, manufacturing, sales, supply chain, and post-sales services and jointly create products and solutions that are suitable for the Chinese market. In addition, the two parties will use big data analysis applications and services to integrate industrial knowledge and realize new technology and business model innovations.

Wang Yang, IBM senior vice president and China development center general manager, said that the establishment of CEC-IBM joint lab is an important step to promote the cooperation and joint innovation of the two parties. They will begin the innovation cooperation under the banners of "Made in China 2025" and "big data and analysis", which are key projects in the current industrial innovation and information industry development in China.

Yang Jun, deputy general manager of CEC, said that innovation development is the inexhaustible power for the continuous development of CEC. By teaming with IBM in the establishment of joint innovation lab, CEC will enhance its technology joint innovation, realize win-win cooperation, bring greater value to customers, and promote the development of Chinese information technology industry.

Financial terms of the deal were not released.