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Innovation is the primary driver of development, and protecting IP means protecting innovation. For China to become a strong and fully modern socialist country, it is imperative that we make further progress in IP protection. IP protection has a bearing upon a number of key issues. First, it bears upon the modernization of our national governance system and capacity. Only by rigorously protecting IP can we build a modern property rights system, further reforms for the market-based allocation of factors, and ensure that the market plays the decisive role in resource distribution while the government better plays its role. Second, it bears upon high-quality development. Only by rigorously protecting IP and cracking down hard on market entities and law-breakers that engage in infringement and counterfeiting can we raise the quality of the supply system and push forward high-quality development. Third, it bears upon the happiness and well-being of the people. Only by rigorously protecting IP, ridding the consumer market of ill practices, and safeguarding the rights and interests of consumers can we ensure that the people feel at ease about the products they buy and consume. Fourth, it bears upon the big picture of China's opening up to the outside world. Only by rigorously protecting IP can we improve the business environment and build a new, more open economic system. Fifth, it bears upon national security. Only by rigorously protecting IP can we safeguard indigenous Chinese R&D on core technologies in key fields and forestall and defuse major risks.

Since the 18th Communist Party of China National Congress in 2012, I have repeatedly stressed that we need to establish an efficient system for comprehensive management of IP protection, delve into every link in the IP chain including creation, application, protection, management, and services, and push for the formation of systems and mechanisms that operate at high efficiency and feature clearly-defined boundaries of authority, reasonable division of functions, and consistent rights and responsibilities.

I have also stressed that we need to put a strict IP protection system in place, boost the quality and efficiency of related investigations, firmly punish infringements of lawful rights and interests, especially intellectual property rights, in accordance with the law, introduce a punitive compensation system, and make the consequences for breaking the law and violating the rights of others much more severe in order to deter people from engaging in such behavior.

(Source: Extract from Xi Jinping's remarks at a group study session of the Political Bureau of the Communist Party of China Central Committee held on November 30, 2020.)

This episode is presented by Zhong Shi.