Business
19:56, 26-Aug-2017
China drafts rules on protecting IPRs of foreign companies
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China's Ministry of Commerce has drafted a document on protecting the intellectual property rights (IPRs) of foreign companies in the countries, an official said Friday.
The paper will intensify the crackdown on malicious trademark registration, online IPR infringement and theft of business secrets, deputy minister of commerce Wang Shouwen said at a press conference.
"China has attached great importance to IPR protection and seen visible results," Wang said, adding that the ministry has worked with other departments to finalize the document.
VCG Photo
VCG Photo
IPR spending to overseas owners rose to 24 billion US dollars in 2016 from 1.94 billion US dollars in 2001, an annualized increase of about 18 percent. In the first half of this year, the amount rose 23 percent year on year to 14.3 billion US dollars.
"China's IPR protection has brought enormous benefits to foreign IPR holders," Wang said.
The country will improve IPR protection for foreign companies by launching campaigns against violations and stepping up judicial and administrative protection, according to a guideline on ensuring foreign investment growth released last week by the State Council.
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Source(s): Xinhua News Agency