Bloomberg; China Announces Punishments for Intellectual-Property Theft
'China announced
an array of punishments that could restrict companies’ access to
borrowing and state-funding support over intellectual-property theft, a
key sticking point in its trade conflict with the U.S.
News
of the measures came just days after President Xi Jinping promised to
resolve the U.S.’s “reasonable concerns” about IP practices in a
statement after meeting President Donald Trump at the Group of 20 summit
on Saturday in Argentina. The White House said the sides agreed to hold
off on tariff action for at least 90 days as they negotiate to resolve
specific U.S. complaints.
China set out a total of 38 different punishments to be applied to IP
violations, starting this month. The document, dated Nov. 21, was
released Tuesday by the National Development and Reform Commission and
signed by various government bodies, including the central bank and
supreme court.
“I think it’s potentially significant if they are implemented and result
in a reduction in IP theft,” Scott Kennedy, a China expert at the
Center for Strategic and International Studies in Washington. “We’ve
been down this road with China many times on IP. The attention companies
pay to IP theft has risen dramatically, and despite the great attention
it’s getting the violations have increased.”"
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