From our archives

March 13, 1984

China to introduce patent law to boost technology

For the first time in its history, the People's Republic of China is to introduce a patent law, which will become effective on April 1 next year.

The enactment of the Patent Law will protect the rights of investors and play a major role in the importation of foreign technology as well as in the development of international economic and technical cooperation.

The Patent Law lays down that international agreements and treaties will govern the processing of patent applications made by foreigners, foreign enterprises and foreign organizations in China.

Bank branch revives loans to individual businesses

The Beijing branch of the Industrial and Commercial Bank of China (ICBC) has discovered a new group of clients - individuals who borrow to start their own small businesses in the city.

"The individual businesses we have financed are mainly in the service sector - restaurants, neighborhood shops, bicycle repairs, tailors and so on", a bank official said.

Formerly unemployed youths made up 52 percent of the individual entrepreneurs granted loans.

(China Daily 03/24/2009 page9)