China Announces Punishments for Intellectual-Property Theft
- 38 penalties include issuing bonds or other financing tools
- Move follows Xi pledge to resolve U.S. concerns on practices
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China announced an array of punishments that could restrict companies’ access to borrowing and state-funding support over intellectual-property theft, a key sticking point in its trade conflict with the U.S.
News of the measures came just days after President Xi Jinping promised to resolve the U.S.’s “reasonable concerns” about IP practices in a statement after meeting President Donald Trump at the Group of 20 summit on Saturday in Argentina. The White House said the sides agreed to hold off on tariff action for at least 90 days as they negotiate to resolve specific U.S. complaints.