Chinese IPR Reform Critical to Improve U.S., China Trade and Investment, Says Biden in Beijing
The Chinese government should press ahead with pledged intellectual property and trade secret reforms, said Vice President Joe Biden on Dec. 5, speaking at an American Chamber of Commerce in Beijing and U.S.-China Business Council event. “The more China delivers on its proposed reforms the strong[er] our bilateral trade and investment relationship will be,” said Biden (here). “We have an opportunity to improve intellectual property protection, resolve outstanding trade disputes that are holding us back. We have an opportunity to significantly expand our cooperation on energy and climate change.”
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The Chinese government announced patent holders will be allowed to submit additional data on patents after filing initial applications, a move that constitutes “an important step to strengthen the protection of pharmaceutical innovations,” a White House fact sheet said (here). Moreover, the Chinese decided on Dec. 5 to permit an increase in the number of U.S. food and drug inspectors stationed in China, said both the fact sheet and Biden during his remarks. “China also committed to take steps towards introducing a framework for registering manufacturers of bulk chemicals that can be used as active pharmaceutical ingredients, which would be a critical step in combating dangerous counterfeit pharmaceuticals around the world,” according to the fact sheet.