“Indigenous innovation” rule modified
May 31, 2010 Category Foreign trade, Weekly
Draft “indigenous innovation” government procurement rules have been modified to address concerns raised by foreign companies, and the revisions “basically resolve” their concerns over intellectual property (IPR) protection and other issues, Vice Minister of Science Cao Jianlin said. “We think that the different companies have agreed that the [latest] draft is non-discriminatory, market-oriented and also reflects the principle of IPR protection,” he added. The new regulations have not come into force yet.
- Trade Ministers from China, Japan and South Korea praised efforts to explore a potential joint free trade agreement (FTA) to boost commerce among three of Asia’s biggest economies, which represent 18.6% of the global economy as measured by gross domestic product (GDP). They have been holding trilateral meetings at the Trade Minister level since 2002. The tree Ministers said they hoped a study would be completed by 2012.
- According to WTO rules, China will automatically acquire “market economy status” (MES) in 2016, 15 years after joining the organization, but the Chinese government hopes the U.S. and the EU will agree to offer China MES earlier.
- Taiwan is scheduling a special legislative session in late July to approve, reject or change the Economic Cooperation Framework Agreement (ECFA) set to be signed with the Chinese authorities next month.
- A trade delegation headed by the Governor of Fujian signed deals worth NTD24 billion in Taiwan as a shipping line between Xiamen on the mainland and Kaoshiung in Taiwan was inaugurated. Fujian’s bilateral trade with Taiwan soared 97.9% to USD3.34 billion in the first four months of this year, with exports to the island up 1.8 times and imports from Taiwan up 2.4 times.
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