China is vowing to crack down on intellectual property theft, aiming to address a major hurdle in trade negotiations with the U.S.
China is vowing to crack down on intellectual property theft, aiming to address a major hurdle in trade negotiations with the U.S. But one expert contends investors shouldn’t give too much credence to Beijing’s latest olive branch.
According to guidelines released by the Chinese government Sunday, officials are working to curb IP violations by 2022 and call for “speeding up the introduction of a punitive compensation system for infringements of patents and copyrights, and strengthening the protection of trade secrets.” This comes as China’s Ministry of Commerce noted that China’s top trade negotiator, Liu He, spoke with Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone earlier. The two sides are still working to solidify an initial trade deal, as factors like protests in Hong Kong and looming tariffs in December weigh on discussions between the world’s two largest economies.
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