IPR Photo:VCG

China will establish a punitive compensation system targeting intellectual property infringements, as well as increasing levels of compensation payable, as the country steps up efforts to improve intellectual property rights (IPR) legislation, according to a 5-year plan for IPRs released by the State Council on Thursday.

The plan details the determination of the central government to further strengthen the protection of IPRs, and promote high-quality economic and social development, analysts said.

In 2020, China prosecuted 25,000 IPR infringement cases worth a total of 500 million yuan ($78.1 million).

According to the plan, by 2025, China will significantly improve its governance capacity relating to IPRs, and the intellectual property sector will achieve high-quality development, effectively supporting innovation development and the construction of a high-standard market system.

Moreover, the country will accelerate legislation on IPRs across new fields and forms of business, such as big data, artificial intelligence (AI), algorithms and genetic technology, in addition to setting up rules governing data intellectual property protection.

Global Times