China drafts rules on protecting IPRs of foreign companies

BEIJING — China's Ministry of Commerce has worked with other departments to draft a document on protecting the intellectual property rights (IPRs) of foreign companies in China, an official said Friday.

The document will intensify the crackdown on malicious trademark registration, online IPR infringement and stealing business secrets, deputy minister of commerce Wang Shouwen said at a press conference.

"China has attached great importance to IPR protection and seen visible results," Wang said.

IPR spending to overseas owners rose to $24 billion in 2016 from $1.94 billion in 2001, an annualized increase of about 18 percent. In the first half of this year, the amount rose 23 percent year-on-year to $14.3 billion.

"China's IPR protection has brought huge benefits to foreign IPR holders," Wang said.

The country will improve IPR protection for foreign companies by launching campaigns against violations and stepping up judicial and administrative protection, according to a guideline on ensuring foreign investment growth released last week by the State Council.