Internet of things is deemed as the one of the great revolution after the age of Industrial Revolution. With the development of the communication technology, more and more entities are connected to the communication network and become one of the elements in the network. Over recent decades, in the area of intelligent transportation, pedestrian and transport infrastructure are connected to the communication network to improve the driving safety and traffic efficiency which is known as the ICV (Intelligent Connected Vehicle). This paper summarizes the global ICV progresses in the past decades and the latest activities of ICV in China, and introduces various aspects regarding the recent development of the ICV, including industry development, spectrum and standard, at the same time.