UK business leaders welcome Xi comments at Boao Forum

This article is taken from and it was written on  17th of April 2018.

A Department for International Trade spokesperson said: “The Belt and Road Initiative holds significant commercial potential for the UK – from supporting sustainable infrastructure to digital innovation and public health.

“As an international economic department, we want businesses across the UK to seize global opportunities. That’s why we are making up to 25 billion pounds ($35.6 billion) of funding available for UK exporters and buyers of UK goods and services along the Belt and Road Initiative so that no viable export fails for a lack of funding.”

During his keynote speech at the Boao Forum, Xi also said government will ramp up its efforts to protect intellectual property rights for local and foreign companies operating in China.

“Improving property rights protection will enhance the competitiveness of the Chinese economy,” the president said.

Xi said the government will reorganize the State Intellectual Property Office this year, step up law enforcement, and significantly raise the cost for offenders.

Tim Moss, chief executive of the UK government’s Intellectual Property Office, said a healthy and balanced intellectual property system is “important for economic competitiveness”.

“I welcome President Xi’s commitment to IP protection and look forward to supporting detailed implementation,” he said. “I will be interested to see further developments following recent announcements, including upcoming IP legislative revisions and initiatives to encourage appropriate cross-border technology co-operation.”

Tania Clark, president of the Chartered Institute of Trade Mark Attorneys, said the Chinese patent and trademark system “seems increasingly to be harmonized toward the processes of other countries”.

“All intellectual property practitioners will be heartened by the encouraging words in President Xi’s speech,” Clark said. “A solid and trusted intellectual property system is a cornerstone of international and domestic trade.”

Stephen Jones, president of the Chartered Institute of Patent Attorneys, said: “We welcome President Xi Jinping’s commitment to strengthening intellectual property rights in China and improvements in enforcement of rights.”

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