(Yicai Global) Sept. 18 -- China will enforce its measures to keep intellectual property rights safe in order to create a better business environment for firms, its commerce minister said.

China needs better safeguarding of IP rights to develop, Commerce Minister Zhong Shan said at a multinational company conference yesterday. The event gathered guests from international firms such as Japan's Toyota Motor, South Korea's Samsung Electronics, London-based lender HSBC, as well as US consultancy The Cohen Group and engineering firm Emerson Electric. 

Zhong also spoke about the brewing trade dispute between China and the US. Entrepreneurs are very worried about the possible consequences of a trade conflict between the world's top two economies, which China has been trying to avoid, Zhong said. "There is no winner in a trade war." 

The unilateralism and protectionism of the US affect the interests of both sides and harm the global economy, the minister said, adding that cooperation is the only way to reach mutual benefits and a win-win situation. 

Editor: Emmi Laine