China announced an array of punishments that could restrict companies’ access to borrowing and state-funding support over intellectual-property theft, a key sticking point in its trade conflict with the U.S.
News of the measures came just days after President Xi Jinping promised to resolve the U.S.’s “reasonable concerns” about IP practices in a statement after meeting President Donald Trump at the Group of 20 summit on Saturday in Argentina. The White House said the sides agreed to hold off on tariff action for at least 90 days as they negotiate to resolve specific U.S. complaints.
China set out a total of 38 different punishments to be applied to IP violations, starting this month. The document, dated Nov. 21, was released Tuesday by the National Development and Reform Commission and signed by various government bodies, including the central bank and supreme court.
“I think it’s potentially significant if they are implemented…
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Last modified: December 5, 2018