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Action on piracy to protect investors' benefits
( 2002-09-20 09:14 ) (1 )

A firmer crackdown on counterfeiting and infringements of intellectual property rights (IPR) was promised Thursday by State Councillor Wu Yi as an integral part of improving the business environment for domestic and foreign investors.

She said the Chinese Government fully recognizes the importance of IPR protection in boosting the confidence of foreign companies seeking to invest in high-tech industries and set up research and development centres in China.

She was speaking at a colloquium between senior Chinese Government officials and transnational corporations which have invested in China.

More than 100 senior representatives from 60 transnational corporations including Siemens, Motorola, Ford, Sony, GE, Shell and Nokia took part.

Wu said the State Council had scrapped 830 laws concerning the investment environment and revised another 325, and more than 190,000 local provisions have been revised or abolished to honour China's commitment to the World Trade Organization (WTO).

New regulations guiding foreign investment had been publicized, notification and enquiry services concerning market opening-up had been provided.

She pledged that the Chinese Government will pay great attention to improving enforcement of laws and enhancing public awareness of law, especially of IPR protection.

China had strictly implemented the WTO undertakings, and had been rewarded with more overseas investment, which would hit a record high this year, she said.

Wu urged multinationals to value technological innovation and technological input in their investment and continuously improve the technological content and added value of their products.