The chairman of Robert Bosch GmbH, the German mobility, industry and software conglomerate, said on Monday that his group would develop solutions for all spheres of the internet of things in China amid the country's consumption upgrading boom－including further investing in new plants this year.

The group said it would open a new joint venture for gasoline engine management systems in Chongqing, an automotive electronics plant in Changzhou, Jiangsu province, a power tools plant in Chengdu, and a thermotechnology joint venture in Foshan.

Bosch Chairman Volkmar Denner said that his company would develop connected mobility, smart city and smart home products from a long-term perspective.

"China's growing demand for high value-added products and services, especially for its automobiles, home-related service businesses and manufacturing projects, offers many opportunities," Denner said.

In 2016, Bosch invested around 5.4 billion yuan ($782 million) in China, including establishing a research and development facility in Suzhou and another one in Nanjing.

In the connectivity business, Bosch focuses on sensors, software and services. The company has set up a local team for its connectivity businesses in China: the subsidiaries of Bosch Software Innovations, Bosch Sensortec and Bosch Connected Devices and Solutions.

"Bosch is convinced about the long-term potential of the Chinese market and we will continue to invest in China," Denner said.

Bosch's sales increased in its 2016 fiscal year.

According to preliminary figures, sales rose by 3.5 percent to 73.1 billion euros ($78.77 billion). In China, it posted double-digit growth last year, which meant China remained its second-largest market worldwide.

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