New regulations set to punish violators of IPRs
China is stepping up efforts in intellectual property rights (IPRs), and will accelerate the fourth ratification of its IP law, which will lay out punitive mechanisms for those found in violation of the law, said the head of the State Intellectual Property Office (SIPO).
The system to protect IPRs has been developing over the period of China's reform and opening-up, SIPO Director Shen Changyu was quoted as saying in a post published on its website on Thursday. As economic growth has been driven by innovation, domestic firms and their foreign counterparts have a strong need for IPR protection, Shen said.
China will strengthen IPR protection, said Chinese President Xi Jinping, speaking on Tuesday at the opening ceremony of the Boao Forum for Asia held in South China's Hainan Province, the Xinhua News Agency reported.
Over the past five years, authorities have investigated 192,000 cases of patent infringement and counterfeiting, and 173,000 cases of trademark infringement and counterfeiting, Shen said, noting that progress has been made in IPR protection.
To further strengthen the protection mechanism, Shen said the fourth ratification of China's IP law will be accelerated, and there will be a system of penalties for violators.
A revised draft of the patent law is also on the legislative slate, and it will be proposed to the National People's Congress Standing Committee for deliberation, he said.
In the first three quarters of 2017, Chinese authorities cracked down on more than 9,800 IPR infringement cases, according to data released by the Ministry of Commerce.
US President Donald Trump targeted China by imposing up to $60 billion on Chinese imports in March, claiming that China's practices involve stealing US firms' IPRs.
(Source: Global Times)