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.

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