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1 in 5 corporations say China has stolen their IP within the last year: CNBC CFO survey

CNBC

As President Donald Trump says his administration is moving closer to a trade deal with China, one of the major sticking points has been China’s disregard of intellectual property protections and claims dating back years about rampant Chinese theft of corporate trade secrets. The allegations are not hyperbole.

One in five North American-based corporations on the CNBC Global CFO Council says Chinese companies have stolen their intellectual property within the last year. In all, 7 of the 23 companies surveyed say that Chinese firms have stolen from them over the past decade.

As the Trump administration works on a trade deal with China and hundreds of billions in potential tariffs loom if a deal can’t be reached — Trump has delayed the tariffs scheduled for Mar. 1 based on “significant progress” he said is being made — the issue of IP theft has been a huge sticking point.

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