CHINA has made efforts to prevent the forced transfer of technology of foreign investors by submitting a draft law for Chinese legislators' review to protect intellectual property rights, reports the People's Daily
CHINA has made efforts to prevent the forced transfer of technology of foreign investors by submitting a draft law for Chinese legislators' review to protect intellectual property rights, reports the People's Daily. The new law could address a topic that's been central to United States' concerns, with Minister of Justice Fu Zhenghua saying it will protect the intellectual property rights, encourage voluntary technology transfers but forbid forced transfers.
A national 'negative list' system was also proposed, ensuring that investment from foreigners in any area not on the list will be treated as domestic investment, entitling foreign company operations to the same support provided to domestic firms, said the report.
Separately, Beijing has denied taking part in any theft of western commercial secrets from the United States and the United Kingdom, while demanding that the cyber security charges that were taken against two Chinese nationals be dropped, reports London's Financial Times.
Beijing has appealed to the US and UK to 'respect the truth; stop deliberately slandering China, to prevent harm to bilateral relations and co-operation in important areas'.
The response came just hours after the US, the UK and several allies accused China of cyber attacks aimed at stealing technology related to various industries, including aviation, satellites, finance and electronics.
US prosecutors have charged two Chinese nationals tied to Beijing's top spy network with stealing sensitive data from US government agencies and major global businesses.
The two individuals, Zhu Hua and Zhang Jianguo, are alleged to have carried out hacking attacks on the US Navy, NASA and the US Energy Department. Sources also told Reuters that their operation, codenamed 'Cloudhopper' also targeted intellectual property and customer data of companies including IBM and Hewlett Packard, in order to pass on to Chinese companies.
The hacking had been ongoing since 2006, meaning that China breached a 2015 agreement to reduce cyber espionage for commercial purposes.
'No country poses a broader, more severe long-term threat to our nation's economy and cyber infrastructure than China,' said FBI director Chris Wray. 'China's goal, simply put, is to replace the US as the world's leading superpower, and they're using illegal methods to get there.'
Britain, Australia, and New Zealand also levelled criticism against China. One British security official described the campaign as 'one of the most serious strategically significant, persistent and potentially damaging set of cyber intrusions against the UK and our allies that we have seen.'
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