Tech London Advocates founder Russ Shaw reflected on his recent visit to China, describing its rapid technological advancements in AI, fintech, and e-commerce as remarkable.
Speaking to CGTN’s Sally Burdett, he noted that government-backed investment and innovation drive China’s success, contrasting with London’s more fragmented but globally connected ecosystem.
Speaking to CGTN’s Sally Burdett, he noted that government-backed investment and innovation drive China’s success, contrasting with London’s more fragmented but globally connected ecosystem.
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00:00Chinese entrepreneurs, if they're successful in China, they can be successful anywhere
00:08because one of the things I've learned in my visits to China is how brutally competitive
00:14the market is when you're there and how hard companies have to work to make sure that they
00:20can not only survive but thrive.
00:24And I applaud the Chinese entrepreneurs who do that and do that well.
00:28At DeepSea, look at what they've done.
00:32They've had some obstacles put in their way.
00:34They can't get access to some of the most advanced chips in the world, but yet they've
00:39come up with a model that shows, well, we can do something different.
00:43And I think that goes to the Chinese ingenuity that is there.
00:48So I see that when I go.
00:51The ecosystem more broadly, I think, is a very exciting one.
00:55I think some of the macroeconomic headwinds in China will make things more difficult for
01:00a period of time.
01:01We all know what they are.
01:02But I do hope that entrepreneurs will continue to be supported in China because they have
01:09a fabulous market to work with.
01:11They have immense talent all across the country.
01:15And I want to see more and more of that innovation coming to the forefront and not be held back.
01:23Are there any promising partnerships in the works after this visit?
01:26Well, I think what we do through Global Tech Advocates, we now have six groups in China.
01:32So we started, we set up a group in Shanghai in 2017 and then in Shenzhen and Wuxi in 2019.
01:40During the pandemic, we set up a group in Chengdu.
01:43In 2023, we launched a group in Hong Kong.
01:47And then in 2024, we set up in Suzhou.
01:50So through those groups that are part of our Tech China Advocates communities, we are
01:55building great partnerships with lots of startups and lots of investors in all of those different
02:01tech hubs.
02:02We work with an organization called Senti Group, China European Network for Technology
02:08and Innovation.
02:09They are our licensee for Tech China Advocates.
02:12So all of the groups that we set up around the world, I have a licensing agreement in
02:17place where I license the brand, the IP, the operating principles.
02:21I charge a whopping one pound a year, so about 10 RMB.
02:25So it's not about making money, but it's a proper commercial agreement so that whoever
02:31takes on that license, and in China, it's Senti Group led by John Tsai, they take it
02:36very seriously.
02:38And they have taken it seriously.
02:40They've set up six groups already, and I know more are coming.
02:43So what we're now doing is saying, for all of these groups that we've set up in China,
02:48how do we better connect them to our global network?
02:51How do we give them exposure to what's happening in other parts of the world?
02:55And how do we make sure that our groups in other parts of the world can be connected
02:59into them?
03:00That is the win-win.
03:01And again, it's not up here with government diplomats and embassies and all that.
03:07It's private sector entrepreneurs on the ground meeting with other people like that.
03:13Give me some examples of where China and the UK can work together.
03:17I'm thinking around the technology in health.
03:20We've seen how much AI can help manage health challenges, but also around climate change,
03:26green tech, renewables.
03:28Yeah, I think all of those areas, I hope, are scoped for greater collaboration.
03:33When I was in Shanghai, I went to the Pujiang Innovation Forum, and I met with a great AI
03:39company that focused on health care for the elderly.
03:44As people get older, and China and the UK both have aging populations, we have something
03:49in common there.
03:50So how do we work together in health tech and AI to support things like health care
03:56for the elderly?
03:58Climate tech, same thing.
03:59We share one planet.
04:01We have to make sure that this planet can survive over the next several decades.
04:06So where can we work together on energy transition, on renewables?
04:12How can we learn from each other on some of the latest technologies that ensures that
04:16we're really protecting our climate and our environment?
04:21I see those as two distinct areas where we can certainly collaborate.
04:26It's wonderful to hear you talk about that energy of collaboration, startups, where small
04:31businesses, brilliantly driven people can create magical things.
04:36It happens at a different level, obviously, to government regulation, but the truth is
04:40government regulation can play a role and can restrict.
04:44If we think about in the United Kingdom, the government has restricted the use or the role
04:51of Huawei in 5G.
04:54So how much does that impact, and how much do you have to navigate?
04:58It does have an impact, and certainly I feed into our government here in the UK on the
05:04things that we're seeing globally.
05:07I just came out of a meeting where we had two people representing the UK government
05:12to talk about what does the UK semiconductor strategy need going forward, and a key part
05:18of that is around international collaboration.
05:21And we had somebody from Huawei in the room helping us to talk about that.
05:26So I think what we can do is feed into governments to say, this is what we need to make it easier
05:33to have access from one market to another.
05:37I think the other thing that we shouldn't forget about is the talent equation, because
05:41ultimately it's the great ideas, it's the innovation that's coming from talent.
05:46So how do we ensure that we continue to have a pipeline of Chinese talent that can come
05:51here, and the primary source of that is students.
05:54When I travel in China, every time I go, I meet students who've studied here.
06:00That's a great asset of great talent in China.
06:04How do we encourage more British students to go and study in China?
06:09So to me, that is a first priority area, and getting those exchanges are really, really
06:15important, but not just at the student level.
06:17I often say to British startups who are looking at China and they're not quite ready to go
06:23full, full approach into China, say, at least set up an R&D capability there.
06:29If you're an e-commerce company, there's no better market to go to than China to see
06:34the innovation, the creativity.
06:36Look at what Alibaba has done.
06:38Look at what Tencent has done.
06:39Look at what others are doing in China in terms of customer loyalty through e-commerce,
06:45how you can shop.
06:46There's an enormous amount of creativity going on there.
06:50Is all of it relevant to the UK?
06:51No, but some of it is.
06:53So go and learn and see for yourself and bring those ideas back with you, but then also maybe
06:59you can have some collaboration with some of those Chinese e-commerce companies who
07:04are looking to expand into the UK.
07:07That's part of the win-win that I look for.
07:10Just showing up in China, I know, is a very difficult premise, but there are good organizations
07:15like Senti Group that can help you to navigate the Chinese market.
07:19It's a different culture.
07:20It's a different language.
07:21It's a different rule of law, but that doesn't mean you can't learn and understand what's
07:25going on there.
07:26Why do I go to China every year?
07:29Usually twice a year, and since the pandemic, I've been three times now.
07:33There's so much great insight and knowledge that I pick up, that I always learn from,
07:37that I say to the rest of the world, this is really exciting.
07:40But when I'm in China, and I did this at the Pujiang Innovation Forum, the last question
07:45we were asked, I was on this enormous stage, what was our message to the Chinese audience?
07:52And I said, if you can, go out from China and travel.
07:56Go see other tech hubs, because we all get in our bubbles, and I'm in a very privileged
08:02position where I go to 12, 14 different tech hubs around the world every year.
08:07There's such great innovation happening out there, but if you just stay in your own place,
08:11in your own location, and I'll say that to an entrepreneur in London, and an entrepreneur
08:16in Shanghai, you're not going to help yourself by doing that.