China’s commerce ministry on Tuesday reacted in unusually mild fashion to a World Trade Organisation action brought by the European Union and US over Beijing’s regulation of financial news and information.
Washington and Brussels this week began WTO proceedings over 2006 rules that effectively put the Chinese financial information businesses of international news providers under the control of local rival and regulator, Xinhua news agency.
In its response to the EU and US requests for consultation, the first step of a formal complaint, the commerce ministry said China would look into the issue and handle it according to WTO dispute resolution procedures.
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