Record Chinese investment in British tech

A record £1.7 billion was invested by Chinese firms into British technological firms in the first six months of 2018.

That’s according to the latest data, which shows a total figure comprised of tens of different deals – with the FinTech sector in particular attracting exceptional interest.

[File photo: IC]

Chinese investment in the British tech sector will undoubtedly boost technological cooperation between the two countries.

It will also allow British firms to benefit from ties to a country which is increasingly seen as being at the forefront of global tech innovation.

The most recent proof of this status came from research undertaken by experts at KPMG.

The Changing Landscape of Disruptive Technologies is an annual study undertaken by the firm, based on a survey of more than 750 global technology industry leaders.

According to KPMG, these include start-up entrepreneurs as well as FORTUNE 500 executives.

The research asked the industry leaders various questions about their industry.

Based on their answers, it concluded:

“China is at the forefront of several knowledge- and tech-intensive industries.”

“China is also drawing on a growing and increasingly sophisticated talent pool, which is an important enabler for tech innovation advancement.”

The findings also demonstrated that a number of Chinese cities, led by Shanghai and Beijing, are true global tech hubs.

One of the questions in the survey was:

“In addition to Silicon Valley / San Francisco, which three cities will be seen as a leading technology innovation hub over the next four years?”

Respondents could enter up to three answers.

Shanghai was the number one answer entered by the technology industry leaders, gaining 25 percent of responses globally and 38 percent in China.

In total, there were four Chinese cities in the top 15, and two in the top five.