ADVERTISEMENT

China drafts law protecting foreign IP and prohibiting forced technology transfer


China, the world’s second largest economy, have launched an effort to attract more foreign investment to help boost economic growth. — SCMP

China, the world’s second largest economy, have launched an effort to attract more foreign investment to help boost economic growth. — SCMP

Beijing is accelerating its lawmaking process to consider draft legislation to protect the intellectual property rights of foreign investors, encourage voluntary transfers of technology but prohibit forced technology transfers by administrative means, to address key demands by Washington to reach a deal to tend of the trade war with the United States.

The draft of the foreign investment law, which was submitted on Sunday to the Standing Committee of the National People’s Congress for its first review, stipulates that all government support policies will also apply to foreign funded firms, who will get an equal opportunity to join the process of making standards and also take part in the government procurement, the state-owned Xinhua News Agency reported.

SCMP , Economy , China

   

ADVERTISEMENT