Amid confusion regarding specific terms of a framework agreement on trade reached at the G20 by the Trump administration and Beijing, one concrete sign of progress in China emerged on Tuesday.
China’s chief economic planning body announced sweeping new punishments for IP violators which were signed off on by more than three dozen government agencies.
The new rules would require financial institutions to penalize violators by denying access to financing tools. Entities may also be prohibited from receiving financial support from the government or participating in government procurement, among other penalties.
As part of the enforcement mechanism, a list of violators would be compiled and published on a government website to be used as reference for financial institutions.