China is making aims to strengthen the protection of intellectual property rights, the State Council’s executive meeting, chaired by Premier Li Keqiang, ruled on Wednesday. The meeting ruled that efforts to formulate and improve the criteria for determining, checking and verifying infringements and counterfeits of patents, trademarks and copyrights will be accelerated.
Premier Li stated that IPR protection is the consistent position of the Chinese government and that all companies registered in China, domestic or foreign-invested, will be treated as equals and the interests of foreign businesses will be safeguarded. A revision of the Patent Law and the Copyright Law, the new revision of the Trademark Law, and the revision of the Implementing Regulations of the Patent Law will be advanced. The cost for breach of law will also be significantly raised.
The quality and efficiency of IPR examination will aim for improvement, as the smart system of patent examination and trademark registration will be developed at a faster pace – with the goal being to shorten the time reviewing applications of high-value patent to within 17.5 months and the average review period for trademark registration to within five months.
In the 2018 World Intellectual Property Organization’s Global Innovation Index, China moved up the ranking to No. 17 from No. 22 in 2017, making its way to the world’s top 20 for the first time.