Active crustal deformation of the Tibetan plateau results in destructive continental earthquakes and is therefore the focus of intense research interest. Increases in the numbers of Global Navigation Satellite System (GNSS) networks and stations deployed in Tibet are allowing for the characterization of crustal deformation during different phases of the earthquake cycle. Here, we present the status of a “seismic + high‐rate GNSS” network deployed in eastern Tibet, including its data streams and data processing system, with the goal of supporting quasi‐real‐time earthquake source determination. Furthermore, we use this network to test a prototype earthquake early warning (EEW) system using data from the 2008 7.9 Wenchuan earthquake, the 2011 9.0 Tohoku earthquake, and 2200 synthetic earthquakes with moment magnitudes ranging from 6.5 to 7.5 on the southern Longmen Shan fault and Anninghe fault. The results show that our current methodology could respond to moderate‐to‐large earthquakes (magnitude 7+) within tens of seconds after the origin time, with implications for EEW applications in China.