AmCham plans China copyright summit

A US Chamber of Commerce plans to hold a summit in China to highlight intellectual property rights abuses. A multi-million dollar effort to fight copyright piracy is part of the chamber's 2007 business strategy, unveiled last last week, AFP reported. One element the group plans to look at is the effect of piracy on India's "Bollywood" industry, which is the largest by volume – pumping out some 1,000 films a year – but has very low revenues despite being the top-grossing foreign film category in the US. The group said piracy costs the US economy up to US$250 billion every year and 750,000 jobs.