April 28, 2021

The Chinese government says it will give priority to strengthening intellectual property protection in "high-tech" industries as part of the country's economic development. China's next five-year plan (from 2021 to 2025) and long-term strategy will include stricter intellectual property rules to end its dependence on US technology.

The Chinese government is also working to tighten controls on the overseas transfer of Chinese intellectual property. Last year, Beijing blocked the sale of TikTok, the video-sharing platform, by ByteDance, a Chinese social media company, calling it "blackmail". US software developer Oracle has emerged as the most likely buyer for TikTok after former US President Donald Trump threatened to ban the platform.

Going forward, China will also strengthen its handling mechanism for overseas IPR disputes, open more overseas branches and provide better legal advice for Chinese companies going global. After years of criticism from Washington about the level of protection China provides to foreign companies operating in the world's second-largest economy, the latest plan is the latest step in a long-running effort by China to strengthen its reputation for intellectual property rights.

Reforms to China's patent system, which will take effect on June 1, include increasing infringement damages and speeding up enforcement procedures. Authorities are also trying to improve China's trademark law, including a new CNIPA program to crack down on trademark squatting.

Source: World IP Review

Origional Link:

https://www.worldipreview.com/news/china-new-five-year-plan-targets-hi-tech-ip-21297