CHINA said it will raise penalties on violations of intellectual property rights and will consider lowering levels of criminal culpability to facilitate ease of convictions, said Bloomberg.
China said it's aiming to reduce frequent IP violations by 2022 and plans to make it easier for victims of transgressions to receive compensation.
The US wants China to commit to cracking down on IP theft and stop forcing US companies to hand over their commercial secrets as a condition of doing business there.
'Strengthening IPR protection is the most important content of improving the IPR protection system and also the biggest incentive to boost China's economic competitiveness,' according to the guidelines.
Local governments will be required to implement the strengthening of IP rights, it said.
In May, the US added Shenzhen's Huawei Technologies to what's known as the entity list in an effort to block US companies from selling components to China's largest technology company. Huawei is accused of being a threat to America's national security, and has denied those claims.
WORLD SHIPPING
China said it's aiming to reduce frequent IP violations by 2022 and plans to make it easier for victims of transgressions to receive compensation.
The US wants China to commit to cracking down on IP theft and stop forcing US companies to hand over their commercial secrets as a condition of doing business there.
'Strengthening IPR protection is the most important content of improving the IPR protection system and also the biggest incentive to boost China's economic competitiveness,' according to the guidelines.
Local governments will be required to implement the strengthening of IP rights, it said.
In May, the US added Shenzhen's Huawei Technologies to what's known as the entity list in an effort to block US companies from selling components to China's largest technology company. Huawei is accused of being a threat to America's national security, and has denied those claims.
WORLD SHIPPING