'Rules, institutions' emphasized

Craig Allen, president of the US-China Business Council, said he hoped for detailed regulations to ensure the smooth implementation of the law, which will take effect on Jan 1. He said the enactment of the law is going in the "right direction," but a lot of work needs to be done to fill out the law. "We think the general philosophy of the law is very positive, and we are anxious to work with the Chinese government on the detailed implementation regulations," Allen told China Daily on the sidelines of the forum. Allen also said he hoped for detailed implementation regulations that will respond to the concerns of foreign companies in specific ways. The Chinese government has made "real progress" in intellectual property rights protection, he said, adding that he hoped to see further development. "Copyright, trademark and trade secret protections are critical to an innovative society, and I think the Foreign Investment Law tries to address that," he said.