Minister of the National Copyright Administration Liu Binjie Friday signed a new Memorandum of Understanding on copyright with Baroness Wilcox, British Intellectual Property Minister.?

British and Chinese companies doing business in both countries will be helped by a new agreement between the two nations on defeating piracy and counterfeiting.

The agreement will see both countries cooperate and work together on copyright issues to help to promote a strong national and international economy.

Baroness Wilcox said, "I am delighted to sign this agreement, which promises to bring the two countries closer together in this significant field."

“This agreement will see our two nations work together to improve the prospects for businesses in both countries," said Baroness Wilcox.

“UK firms will be helped to understand and therefore access the Chinese market. The agreement will also help develop ways of protecting companies in both countries from missing out on the benefits of their creativity through piracy and counterfeiting," he said, adding that “I look forward to seeing the benefits this agreement will bring to our two nations.”

Under the terms of the Memorandum of Understanding, the two countries will share ideas and best practice while also promoting the importance of intellectual property.

The agreement will also see Britain and China seek coordination on copyright issues while looking for opportunities for development and training in copyright laws.

Regular assessments of progress made under the agreement will be carried out.