China assures foreign firms of more opening-up, better IPR protection

BEIJING — China has pledged to open up further to foreign firms and strengthen protection of intellectual property rights (IPR).

"China is putting in place a slew of opening-up measures announced earlier this year and there are more such measures to come with greater intensity and at a higher level," Minister of Commerce Zhong Shan told the heads of six multinational companies in China at a symposium held earlier this week.

The symposium, held on Sept 17, was attended by executives of foreign firms in the industries of information technology, automobiles, machinery manufacturing, finance, and consulting, from the United States, Britain, Germany, Japan and the Republic of Korea, according to a Ministry of Commerce (MOC) statement on Sept 18.

"China will provide stronger IPR protection and a better business environment for enterprises. No business can secure a success via infringing on others' IPR. The same is true to a country," Zhong said. "It is in line with China's own demand of further development to better protect IPR, which is an endless pursuit.”

"China's stable and positive economic performance so far this year has refuted doomsayers' expectations and, despite challenges and difficulties, the country has made steady progress in structural upgrading and transition of development momentum.

"We have the confidence and the ability to ensure the accomplishment of major targets and tasks."

Speaking of China-US economic and trade frictions, Zhong said the two countries' economic and trade ties were "mutually beneficial and win-win, and cooperation is the only right choice for them."

"Entrepreneurs are all concerned about the possible outcome from trade conflicts between the world's two largest economies, which is something we don't want to see," he said. "US unilateralism and protectionism will not just affect the two countries’ interests, but will also hurt the global economy and benefit no countries."

Heads of multinational companies attending the symposium were from The Cohen Group, Emerson Electric Company, SAP, HSBC, Samsung and Toyota.