China unveils ‘Action Plan for Building a High-Standard Market System’

China has unveiled its new ‘Action Plan for Building a High-Standard Market System’, consisting of 51 specific measures to be implemented over the next 5 years. The reform includes strengthening intellectual property rights (IPR) and property rights of scientific and technological achievements and creating centralised institutions for trading, transfer, and licensing of IPR, as well as increased IPR protections for new businesses and technologies, including big data, artificial intelligence, and genetics.

The plan also includes measures to strengthen and improve enforcement of anti-monopoly and unfair competition laws.

The announced measures are part of a wider Chinese policy in the area of IPR, which has included amendments to Chinese IPR legislation last year, as well as increased involvement in global intellectual property governance within the World Intellectual Property Organization (WIPO) and in international standard setting.