A short wrap up from the 6th Wuzhen Summit
During the last months we had various discussions of how China´s ongoing rise being a global economic powerhouse will impact the competitive situation of European companies across various industries.
All too frequently we got the impression, that there is a false view regarding conditions in China, China´s impact on Europe and their business, technology and creative potential. Somehow, we could detect a general fear of China which turns into some degree of indifference and ignorance when it comes to specific businesses itself.
Wanting to connect the dots on China ourselves and to get firsthand information, we were lucky to be invited to the 6th World Internet Conference - the leading Tech-Conference in China - thanks to the Governor of Tijanjing.
This year’s topic was- “Building a community with a shared future in Cyberspace”. Various panel discussions about AI, e-education, Smart Society, innovation, impact of capital markets on driving innovation in a digital world, the “One- Road- One- Belt”- initiative, 5G et cetera gave us a multitude in- depth looks of significant subjects.
What have we learned during the 3 days in Wuzhen:
# Chinese speed and eagerness to drive change is more than the spirit of a few entrepreneurs – it is part of something greater - the development of a new society.
# The Chinese way of doing business is excelled more by personal contact, trust and open discussions than the contents of fancy presentations.
# Cases shown during presentations are very often already in use around the corner. Prototyping is done right in the field - not in the labs.
# Building strong eco-systems around the technology centers and the Tech-Powerhouses enables a best equipped environment for start-ups.
# China's artificial intelligence industry has initiated in a new era of development as the technology matures and demonstrates real-world applications.
# The location of Wuzhen Watertown is wonderfully unique. Named the “Venice of China” this place is a great fusion between the historic past and the digital future.
Our deepest gratitude goes towards the European Office of Tianjin Commission of Commerce, Xiqing, P.R.China and especially Mister Ted Hu as European Director, for the invitation. It was a great pleasure to participate in this event. We will travel back to Germany with a much deeper understanding for China, its ambitions and latest stand of technology.
We will come back for sure.