China is expected to raise the compensation ceiling for trademark infringement to 3 million yuan ($490,000) -- six times the current limit, lawmakers said Monday.
In cases of infringement, a compensation of up to 3 million yuan shall be paid to the holders of trademark rights, according to the draft amendment of the Trademark Law, tabled for a third reading at the ongoing bi-monthly session of the Standing Committee of the National People's Congress (NPC), China's top legislature, Xinhua reported.
The first draft amendment set the compensation ceiling at 1 million yuan, up from 500,000 yuan under the current law, while the second reading in June raised it to 2 million yuan.
The move aims to better protect the exclusive trademark rights and further crack down on infringement, said Xie Jingrong, deputy head of the NPC's law committee.
China adopted its Trademark Law in 1982 and made amendments in 1993 and 2001.
