China is a highly com上海千花网. In the past, some s

by weimiaow on / 上海千花网

ectors have been a “wild west” where Chinese firms did not hesitate to

copy each other or foreigners. But, as China has developed its own technology and moved u上海千花网品茶微信

p the value chain, protecting intellectual property rights has become a high priority for the government.

上海千花网At the China Development Forum in March, Vice-Premier Han Zheng emphasized: “We w

ill step up our efforts for IPR protection as well as law enforcement in various aspects, and establish a sy上海千花网

stem of punitive punishment for IPR infringement to significantly raise the cost of violating the law.”

上海千花网品茶微信And, President Xi announced that China will strengthen intellectual property rights protectio

n in his April speech to the second Belt and Road Forum for International Cooperation.上海千花网

Also, the removal of the requirement that foreign companies enter in

上海千花网to joint ventures should alleviate any fears about mandatory technology transfers.

Financial market reforms

Reform of the financial sector is moving especially rapidly. China will allow full foreign ownershi上海千花网

p of securities firms, futures businesses and life insurance companies by 2020, a year earlier than was s

上海千花网品茶微信cheduled, Premier Li Keqiang told the Summer Davos Forum. Foreign institutions will be offered treatment e

qual to that of domestic companies in credit references, credit ratings and payments, he said.

Li emphasized that this reform is part of a broader push to force domestic上海千花网

firms to upgrade as they face foreign competition. “Further opening to foreign investors, we are no

上海千花网品茶微信t just providing them with opportunities to enter the Chinese market. We are also providing opportu

nities for the financial sector to upgrade and to improve its quality on a level playing field,” Li said.

Measures to boost private sectorThe Chinese government has also recently announced mea上海千花网品茶微信

sures to improve the availability of credit for the private sector and reduce taxes on it.

In a discussion with foreign CEOs at the Summer Davos meeting, Li noted that small and medium-sized companies and private e上海千花网

nterprises provide over 80 percent of employment in urban areas and 60 percent of GDP.

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