China to improve IP protection

China is vowing to increase efforts to protect intellectual property rights. Experts advise that this will help boost economic development and attract foreign investment.
Scot Morris, a senior official from the International Confederation of Societies of Authors and Composers stated:
 “A 1-percent increase in copyright in developing economies, there is a 7-percent increase in foreign direct investment. And that is through things such as cultural tourism, festivals, films, broadcasting, recording industry, digital content, and export.”
China hopes to see interest from foreign countries like India has in the past. When India provided protection for intellectual property rights there was an increase in foreign investment because international companies knew that their rights would be protected.Â
Yu Cike, China’s National Copyright Administration says China has created a favourable environment for copyright-based industries. He says China is also set to build a round up system to protect intellectual property rights through better regulation and policies.
“We should collect opinions from all walks of life, and resolve the most urgent problems we are facing in copyright protection. At the same time, we will study their interests and demands, and balance the interests between creators, distributors, and the public.”
The overall objective for the country is to protect intellectual property such as copyright and trade marks, so that it encourages others to produce more intellectual property, safe in the knowledge that their ideas and inventions will be protected.Â

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