Li Keqiang: China will Make Greater Efforts in IPR Protection

Premier Li Keqiang attended The opening ceremony of the 2019 Summer Davos Forum in Dalian and delivered a speech.

According to Li, the Annual Meeting of the New Champions has been held in China for 13 years. When it was launched 13 years ago, the new round of industrial revolution was just on the horizon, globalization was picking up pace, and new forms of business, new technologies and new business models were burgeoning. The focus on “New Champions” for the Summer Davos back then still remains meaningful today. Many growth enterprises, which were mere seedlings a dozen or so years ago, have grown into “towering trees”. China would like to see that all types of market players, large companies and growth enterprises alike, compete on a level playing field and achieve common development.

Li said that in the current international context, the focus of this year’s Annual Meeting on globalization issues was highly relevant. In his important remarks at the G20 Osaka Summit held last week, President Xi Jinping further elaborated on China’s position and propositions on economic globalization and reaffirmed China’s readiness to work with the international community in steering economic globalization in the right direction.

He said that economic globalization was a natural requirement and outcome of social productivity growth and scientific and technological progress. Overall this process delivered benefits to all countries across the world. The latest round of industrial revolution, born in the age of economic globalization, closely knitted together global industrial, innovation and value chains, and vigorously enhanced inclusive growth. It was crucial that countries remained committed to the general direction of economic globalization, and advanced trade and investment liberalization and facilitation. At the same time, the world needed to improve institutional arrangements to promote equal rights, equal opportunities, and fair rules for all, so as to achieve mutually beneficial, balanced and inclusive development. In the face of the downward trends in the world economy, countries needed to renew the spirit of partnership and maintain equal consultations, seek common ground while shelving or managing our differences, and forge synergies. The authority and efficacy of the rules-based, WTO-centered multilateral trading system should be respected and safeguarded.

In the past 40-plus years of reform and opening-up, China had actively integrated itself into the international division of labor and the global industrial, innovation and value chains, and fully honored its commitments.

Going forward, China would remain firmly committed to all-round opening-up and building an open economy of a higher standard. It would advance the opening-up of the manufacturing sector, and the financial and other modern services sectors would also be further opened up. The reform of the exchange rate mechanism and the convertibility of the RMB under the capital account would be taken forward in a steady manner. China would continue to lower overall tariffs voluntarily, further improve laws and regulations concerning opening-up, and strengthen IPR protection. Efforts in all the above areas would make China even more open, transparent and predictable for foreign investment and improve the overall investment environment in this country.

Li Keqiang emphasized that in the coming months and years, China would unswervingly focus on development as China’s top priority. It would implement well the macro policy measures that have been introduced, would not resort to massive stimulus measures, or return to the old approach of expansion in scale and inefficient growth. China would continue to deepen reforms to foster a world-class, market-oriented business environment governed by law and further invigorate all market entities. It would also slash taxes and fees to reduce the burden and pressure on market entities. At the same time, China would streamline administration, delegate power, improve compliance oversight and provide better services to give a boost to all market players; further ease market access, and create a market environment where companies under all types of ownership and from both home and abroad would be treated as equals and compete on a level playing field; encourage financial institutions to provide more loans to small and micro businesses and support big enterprises in working with medium, small and micro companies in an integrated way to better leverage their comparative strengths; and foster a more enabling environment for the development of private businesses, and fully implement fiscal support policies such as general-benefit tax and fee cuts. It would also fully implement the strategy of innovation-driven development and cultivate and strengthen new drivers of growth. A prudent yet accommodating regulatory approach would remain in place to sustain the healthy growth of emerging industries. The nationwide business start-up and innovation initiative would be taken forward to make our economy more innovative and competitive. China would work to foster a healthy cycle of economic growth and higher living standards for the people and target the most acute bottlenecks affecting the daily lives of the Chinese people, to make people’s life better and better share the fruits of reform and development among people

August 19, 2019

Source: National Intellectual Property Administration of China (CNIPA)

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