On Sep 10th, Chinese Premier Li Keqiang gave a speech to the opening ceremony of the 8th Summer Davos Forum  in Tianjin, China. Li indicated that, to protect the IP is to protect the flame of invention and the interest of the inventors. The severe IP infringements would face strict legal punishment including huge compensation which the violators could not afford.

Li Keqiang highlighted the importance of innovation and called for entrepreneurship at the grassroots level to energize the market and fuel economic growth. "China should compile a list of government responsibilities to define how the government should regulate the market. All items on the list should be fulfilled by the government," Li said,"Only by doing so can we build a market environment that favors honest operations and fair play, energizes businesses and encourages innovation and creativity."

After the address, Li answered questions about China's innovation capability construction. Li said, to protect the IP is to protect the flame of invention and the interest of the inventors. To promote innovation, it is necessary to strengthen IP protection, in accordance with the law of IP cases, stimulating the enthusiasm of innovators, realizing the real value of innovation. China will never allow the innovation to be stolen.

Before the opening ceremony, Li communicated with over 200 representatives from principals of multinational companies, research institutions and media. During this, in response to the questions of Klaus Schwab, the president of the World Economic Forum, Li pointed out that China's anti-monopoly action was legally and transparent. China would penalize serious intellectual property right infringement to the fullest extent in accordance with the law, through measures such as imposing heavy fines in order to make law breakers pay a high price, in addition to maintain a level playing market field and protect the legal rights and interests of customs, Li said.

(China IP News)