On November 24, 2019, the Chinese government released a document calling for additional protection of intellectual property rights. This “Olive Branch” is considered a crucial element of an attempt at phase one of a potential trade deal between China and the United States.
The new guidelines are said to be in response to concerns regarding alleged tech theft by the Chinese Government, which US Officials say have cost the US economy billions of dollars in revenue and thousands of jobs. One of the more prominent examples of such is the Chinese tech giant, Huawei, which is being investigated by the US government over allegations of IP theft over a number of years. The Chinese government continues to deny any such wrongful actions and claims that any tech secrets they have were part of mutual deals between the two.
The new guidelines are said to focus on “strengthening the punishment of infringement and counterfeiting” and ensuring “effective protection of trade secrets, confidential business information, and source code.”