(Yicai Global) April 24 -- The United States’ Section 301 investigation into China’s protection of intellectual property does not objectively view the nation’s efforts to make progress, according to the commissioner of China’s State Intellectual Property Office.
China has furthered its IP protection over the years and guards those held by both domestic and foreign enterprises, Shen Changyu said in a press briefing today, adding that its efforts have been recognized by the international community. The statement comes as the US looks to hit China with between USD50 billion and USD150 billion worth of trade tariffs.
China amended its anti-unfair competition law last year to reinforce protection for business secrets, he continued, saying some American sources claimed China’s IP environment was one of the best among middle-income nations. The country has always paid royalties in line with international trade rules and paid out royalties of USD28.6 billion last year, a deficit of more than USD20 billion, he added, saying royalties paid for American IPs were up 14 percent on the year.
SIPO will further advance IP protection under the guidance of President Xi Jinping and requirements laid out in the government work report in order to create a more favorable environment for business and innovation, attract more foreign capital and further open up the Chinese economy, Shen said.