China ‘Laments’ over EU Challenge at World Trade Organisation
China has stated regret over the EU’s decision to lodge an intellectual property rights complaint at the World Trade Organization (WTO).
This is simultaneous as Beijing is being entangled in a dispute with Washington which is very much alike.
The European Union launched the challenge on Friday the 1st June at the WTO, accusing Beijing of unfairly requiring foreign firms to give over their technology to Chinese companies in order to do business in China.
According to sources, foreign companies need to create joint ventures with local companies to do business in the vast Chinese market, which often involves sharing their technology and know-how.
Moreover, the US allegations that China steals business secrets are at the centre of the ongoing trade dispute between the world’s two biggest economies.
In addition, Washington initiated its very own WTO challenge over alleged Chinese IP breaches on the 23rd of March.