U.S. companies complain about China's persistent disregard for intellectual property rights — shorthanded as IPR — where Chinese firms ignore patents or copyrights and sell falsified products at home and abroad. They also complain about China's "indigenous innovation" policy, designed to give domestic companies a leg up when selling to China's government, which controls much of the economy.
Hu promised that all will be fixed in an interview published Monday in The Wall Street Journal and The Washington Post.
"China will continue to improve laws and regulations concerning foreign investment, strengthen IPR, promptly address the legitimate concerns of foreign companies and facilitate the growth of enterprises all kinds in China by offering them a stable and transparent legal and policy environment," the Chinese leader said.
Hu also said that China's efforts to stimulate its economy during the global downturn benefited U.S. firms in China.
"Their innovation, production and business operations in China enjoy the same treatment as Chinese enterprises. The package plan and the related policy measures that the Chinese government introduced to counter the international financial crisis have also provided good opportunities for the growth of all enterprises in China, foreign companies included," Hu wrote. Read more.