Feeds

US and EU haul China into WTO over news noose

'Stock quotes want to be free'

Top 5 reasons to deploy VMware with Tegile

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. ®

Choosing a cloud hosting partner with confidence

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The hidden costs of self-signed SSL certificates
Exploring the true TCO for self-signed SSL certificates, including a side-by-side comparison of a self-signed architecture versus working with a third-party SSL vendor.