Feeds

US and EU haul China into WTO over news noose

'Stock quotes want to be free'

The essential guide to IT transformation

The US and European Union have filed a complaint with the World Trade Organization protesting regulations imposed by China that prevent foreign financial news services from dealing directly with Chinese customers.

Instead, services such as Dow Jones, Reuters and Blomberg are required to distribute stock prices, news reports and other financial information through the Chinese government news agency known as Xinhua. The agency has its own financial news unit that competes with the foreign services, an arrangement that creates a "severe competitive disadvantage," US Trade Representative Susan Schwab said in The New York Times.

The regulations prevent foreign services from dealing directly with customers or potential customers in China. That means they can only solicit new business by going through their Chinese competitor, US and EU representatives complain.

The complaint is the latest to argue that China has illegally closed its markets to foreign business. The Bush administration has already charged the Chinese government with restricting the flow of American movies, music and software into its borders and then failing to enforce laws against piracy. In December, China responded to one complaint by suspending imports of films for Chinese consumers.

China's restrictions on financial news services have been in effect since 2006. Similar regulations had been enacted in 1996, but they were lifted a year later.

Western diplomats have raised the restrictions with their Chinese counterparts several times, including at the EU/China summit in Nov. 2007. Monday's action by the US and EU provides for 60 days of negotiations between the parties. If no agreement is reached, a panel could be convened to issue a ruling. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?