Xi: IP rights protections are essential

China will strengthen intellectual property rights protections, as they are the centerpiece of the system for improving property rights protections and the biggest boost to enhancing competitiveness of the Chinese economy, President Xi Jinping said on Tuesday.

"Stronger IPR protection is a requirement of foreign enterprises, and even more so of Chinese enterprises," Xi said at the opening ceremony of the 2018 Boao Forum for Asia Annual Conference. The country is re-instituting the State Intellectual Property Office this year to step up law enforcement, significantly raise costs for offenders and fully unlock the deterrent effect of relevant laws, he added. According to the president, China will encourage normal technological exchanges and cooperation between Chinese and foreign enterprises, and protect the lawful IPR owned by foreign enterprises in China. Meanwhile, Xi called on foreign governments to improve their protection of Chinese IPRs.

(Source: Xinhua)