China
12:06, 20-Sep-2017
Expert: Time for China to seriously look at IP rights issue
["china","north america"]
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By CGTN's Dialogue
“Their (Chinese firms) number one concern is that their IP gets stolen by a counterpart within China. IP rights protection is not only to protect the IP of international companies in China, but also for Chinese domestic innovators as well,” said Jay Huang, founding partner of Jadestone Capital, speaking on CGTN’s Dialogue.
“It’s really the time for China to seriously look at IP rights protection,” he added.
Huang says Chinese companies need even greater intellectual property rights protection and now is the time to get serious on the issue.
His comments come after US President Donald Trump signed a memorandum in August greenlighting a review into alleged “malpractices” by China in relation to intellectual property rights.
According to a White House statement, "The investigation will seek to determine whether acts, policies, and practices of the Government of China related to technology transfer, intellectual property, and innovation are unreasonable or discriminatory and burden or restrict US commerce."
China’s Ministry of Commerce responded with “grave concern” over the move, warning that the country would not sit on its hands “if the US’ action inflicts damages on the bilateral trading relationship.”
The issue of intellectual property has once again been brought into the spotlight.
Following the probe into China’s alleged malpractices, Trump also blocked the acquisition of Lattice Semiconductor Corp. by Chinese-funded firm Canyon Bridge Capital Partners citing security concerns.
Robert Koepp, director of the Economist Corporate Network, says the block by Washington did make some sense, as both competition and access should be mutual.
“Many years ago, China seemed to be a frequent violator of international IPR norms. Once China starts to have its own intellectual property, then it starts to get serious. And it does seem to be happening. I think it is a good sign of progress,” he said.
“There is something to the Washington argument that you’re making our companies transfer intellectual property to you when you should let them in and compete.”
Dialogue with Yang Rui is a 30-minute current affairs talk show on CGTN. It airs daily at 7.30 p.m. BJT (1130GMT), with rebroadcasts at 3.30 a.m. (1930GMT) and 11.30 a.m. (0330GMT).
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