The internet of things (IoT) enabling things connects things, is very hot and provides technical support and development opportunities to China´s growing transportation industry. This paper puts forward the concept and structure of the intelligent transportation system(ITS) under IoT; discusses the difference and changes of traditional ITS with ITS under IoT; analysis of our country´s basic condition and the breakthrough focus to develop ITS under IoT; put forward our country´s development strategy of ITS under IoT. So as to promote China´s rapid development of intelligent transportation industry and IoT industry.