CCP Continues to Steal Intellectual Property From US Firms in China: Ambassador Burns

U.S. Ambassador to China Nicholas Burns says American firms face multiple challenges in China, particularly the lack of intellectual property (IP) protection. In an appearance on CBS News’s “60 Minutes” aired on Feb. 25, Mr. Burns said IP challenges were one of the concerns he had heard from U.S. companies operating in China. “There is still intellectual property theft from American companies here,” Mr. Burns said. Asked whether every American company fears IP theft in China, he replied, “Yes.” For years, the Chinese Communist Party (CCP) has been stealing IPs and trade secrets from companies and institutions with the aim of turning China into a technology and IP powerhouse. The Office of the U.S. Trade Representative, in a report published in 2018, found that “Chinese theft of American IP currently costs between $225 billion and $600 billion annually.”...