The Internet of Things could well be the next El Dorado for the tech industry in China as companies scramble to put everything online, experts said on Thursday.

Yang Yuanqing, chief executive of Lenovo Group, said: "A smart future will demand smart connections. The Internet will move toward creating smart technologies that boost the Internet of Things, like connecting hardware devices with users, data and services."

Fancy mobile gadgets will not suffice in a new smart age that requires perfect connections between them and cloud-based services, Yang said at a forum on the sidelines of the Second World Internet Conference in Wuzhen, Zhejiang province.