Head of revamped agency says China is paying more for foreign IP and has reinforced the country’s laws
hen Changyu, head of China’s revamped State Intellectual Property Office, made the remarks on Tuesday in response to a US investigation under section 301 of the Trade Act of 1974, which prompted Washington to propose a 25 per cent tariff on about 1,300 industrial technology, transport and medical imports from China.
“We think that the outcomes of so-called 301 investigation by the US ignored the objective fact that China has strengthened its protection on intellectual property,” Shen said.
He said amendments to China’s anti-unfair competition law would bolster protection foreign companies’ technology.
Shen also said China spent over US$28.6 billion for the rights to use foreign technology last year, with the amount paid to the United States rising 14 per cent year on year.
Foreign companies have long complained about China’s violations of intellectual property rights, from counterfeiting famous brands and stealing trade secrets to forcing offshore companies to share technology as a condition for doing business in China.
At the Boao Forum for Asia earlier this month, Chinese President Xi Jinping said the newly restructured State Intellectual Property Office would help to enforce the law on intellectual property protection and to increase the price paid for violations…