Banny Wang

Aligning with the 24 Measures, a policy directive from the State Council aimed at attracting foreign investment, China’s intellectual property (IP) agencies have undertaken multiple measures aimed at addressing the concerns of foreign IP rights holders.

Amid a slowdown in economic growth and reduced domestic consumption, China’s State Council released a 24-point guideline that emphasizes the importance of attracting and utilizing foreign investment to establish what is described as a “new open economic system.” The document, published last month, is essentially a guidebook for other Chinese policymaking bodies which are expected to implement the opinions.

China’s protection and enforcement of intellectual property (IP) rights remains a key challenge for both US companies and a key issue for the US government. The Office of the US Trade Representative said in its  2023 Special 301 Report that the slow pace of China’s IP reform is a “serious concern.”

China’s progress in implementing reforms to its IP system is among USCBC’s long-lasting focuses. As we continue advocating for more enforceable, effective IP protection on behalf of the American business community, we are writing to share noteworthy USCBC work and IP policy developments since the last update.

It has been two months since China lifted its three-year-long zero-COVID policy. While hospitals nationwide remain overstretched with patients suffering severe symptoms, the majority of the population has recovered from the first wave of infections and is back on the road for the Chinese New Year.