Feeds

US and EU haul China into WTO over news noose

'Stock quotes want to be free'

Internet Security Threat Report 2014

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.