Source: China IP News

"The two sides highly valued intellectual property protection and agreed to promote cooperation in this regard." On May 19, China and the United States issued a joint statement on economic and trade consultations in Washington, highlighting the IP issue again. "The two nations will continue strengthening mutual investment cooperation and deepening bilateral cooperation on intellectual property rights protection. It is beneficial for the two countries, but also stability and prosperity of global economic trade," noted Liu He, President Xi Jinping's Special Envoy, Member of the Political Bureau of the Central Committee of the Communist Party of China (CPC), Vice Premier of the State Council and Chinese Initiator of the China-US Comprehensive Economic Dialogue.

In his keynote speech at the recent Boao Asia Forum Annual Conference 2018, President Xi transmitted Chinese firm stand and distinct attitude on strengthening IP protection to the world. Actually, items related to IP protection were listed in the achievements of multiple recent U.S.–China Strategic and Economic Dialogues. Besides, the first Belt and Road IP cooperation document between China and international organizations titled Agreement on Enhancing "Belt and Road" Intellectual Property Cooperation between the Government of the People's Republic of China and the World Intellectual Property Organization was also included in outcomes of the Belt and Road Forum for International Cooperation.

"In view of the current trend, we must cooperate in IP for innovation and trade globalization. During communication and cooperation with other countries in the world, China repeatedly stressed the role of IP. It is our inherent need for development and a display of our confidence", said Liu Haibo, researcher of Institutes of Science and Development, Chinese Academy of Science. Presently, Chinese technological and scientific resource and strength is improving economic competitive power toward faster, better and larger through mapping in the world.

It is noticeable that China will promote revision of related laws and regulations including the Patent Law, according to the statement. In recent years, the State Intellectual Property Office(SIPO) is always actively perfecting IP law system in line with latest social development, striving for "law is revising and suitable with the time", including fourth overall revision of patent law, deepening research on IP protection system for innovations under new format and new field, and launching IP basic law research on the background of corpus of civil law.

"It is obvious to all that China is delivering IP protection without difference and discrimination to foreign investors and achieves remarkable success," said Xu Chunming, Director of Intellectual Property Institute of Shanghai University. Indiscriminate IP protection for innovation entities from both home and abroad is helpful for constructing fair and open business environment, naturally winning thumbs-up from enterprises at home and abroad, and attracting floods of foreign investment. As shown by survey report for satisfaction with IP protection 2017 issued by SIPO, the satisfaction index gap between state-owned, foreign-funded, joint-ventured and private-operated enterprises is getting closer according to results from 2015-2017, and satisfaction for foreign-funded and joint-ventured enterprises is higher than average level.

Meanwhile, more and more Chinese enterprises are emerging in international markets with the advancement of the Chinese innovation engine. In 2017, China filed 51,000 international patent applications via PCT, valuating to be No.2 in the world. "As emphasized by president Xi Jinping, 'China hopes foreign governments will also improve protection of Chinese IPRs', symbolizing the stand of strengthening IPR protection of China and showcasing the reciprocal principle in IPR international protection." In the view of Xu, it needs joint efforts from countries to build business environment for fair competition and construct inclusive, balanced and effective IP international rules, improving cooperation and win-win to achieve common development.