Of the 50 countries in the US Chamber of Commerce’s International IP Index, that measures commitment to protect innovation through legal rights, China ranks 25th. The country earns praise in the survey for its reforms on patents and copyright, but loses marks for the high levels of infringement and insufficient legal safeguards.
Brands Nike and LVMH also praised China’s efforts to fight theft of intellectual property including the counterfeiting of major brands, as justification for imposing tariffs on Chinese imports at the China International Import Expo in Shanghai. Both companies saw a surge in sales from China as affluent consumers embrace high-end brands. Nike’s annual revenue from China last year was $5.1 billion, more than doubling since 2013.
Government crackdowns on sophisticated counterfeiting rings in Southern China’s Guangdong province prevented exports of fake Louis Vuitton bags to Dubai and the US.
