China Faces WTO Case Over Financial News

From Reuters via Khaleej Times :

The European Union and the United States have decided to file a joint complaint against China at the World Trade Organisation over how Beijing regulates foreign financial information providers, two people familiar with the issue said on Sunday.

The Beijing-based sources said China had been informed of the long-expected decision, which will add to strains in economic ties stemming from China’s record-and still fast-expanding-trade surplus with both the EU and the United States.

One industry source said a formal announcement could be made in Geneva, the headquarters of the WTO, as early as Monday morning. A second diplomatic source said final paperwork could delay the announcement.

NOTE: New rules put in place last year require foreign financial news providers like Reuters, Dow Jones and Bloomberg, to sell their services exclusively through Xinhua.

Open popup

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.