Status Of Us China Trade Agreement

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The GOC challenged the forced transfer of ip as a mandatory practice and recognised the effects of domestic research and development in China. [61] Former U.S. Treasury Secretary Larry Summers said China`s leadership in some areas of technology was the result of “significant public investment in basic research” and not the “theft” of U.S. real estate. [62] In March 2019, the National People`s Congress approved a new foreign investment law, which is due to enter into force in 2020 and which expressly prohibits the forcible transfer of intellectual property from foreign companies and grants increased protection to foreign intellectual property and trade secrets. China had also planned to lift restrictions on foreign investment in the auto industry in 2022. .

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