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China passes IP law for foreign businesses

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China passed a new law designed to protect the intellectual property rights of foreign companies doing business in the country.

"Beijing will not discriminate between domestic and foreign enterprises when enforcing its IP laws,” said Ning Jizhe, vice chairman of China’s National Development and Reform Commission.

IP theft is one of the key concerns in the U.S.-China trade war, according to Fox Business.

Read more from Fox Business.

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