Xi said China will strengthen protection of intellectual property rights.
IPR protection is the centerpiece of the system for improving property rights protection, and it will provide the biggest boost to enhancing the competitiveness of the Chinese economy, the president said.
Stronger IPR protection is the requirement of foreign enterprises, and even more so of Chinese enterprises, he said.
China is re-instituting the State Intellectual Property Office this year to step up law enforcement, significantly raise the cost for offenders and fully unlock the deterrent effect of relevant laws, according to the president.
We encourage normal technological exchanges and cooperation between Chinese and foreign enterprises, and protect the lawful IPR owned by foreign enterprises in China, he said.
Meanwhile, China hopes foreign governments will also improve protection of Chinese IPR, the president said.
Attractive investment environment
China will improve the investment environment for foreign investors, Xi said.
Likening investment environment to air, Xi said that only fresh air can attract more investment from the outside.
China relied mainly on providing favorable policies for foreign investors in the past, but now we will have to rely more on improving the investment environment, he said.
Xi said that China will complete the revision of the negative list on foreign investment in the first half of the year and implement across the board the management system based on pre-establishment national treatment and negative list.
We will enhance alignment with international economic and trading rules, increase transparency, strengthen property right protection, uphold the rule of law, encourage competition and oppose monopoly, he said.
In March, China established a host of new agencies such as the State Administration for Market Regulation as part of a major readjustment of government institutions.
The purpose of this readjustment, Xi said, was to remove the systematic and institutional obstacles that prevent the market from playing a decisive role in resources allocation, and enable the government to better play its role.