China Opens to Financial News Media
Nov 14, 2008 - Shanghai, China - China has opened its market to financial information providers, ending an attempt to give the official Xinhua news agency tight control over its foreign competitors and resolving a trade dispute with the US, the European Union and Canada. Under a deal signed by the 4 parties in Geneva on Thursday, China agreed to transfer Xinhuas role in overseeing foreign financial information suppliers to an independent regulator and to allow such suppliers to set up commercial operations. The agreement, reached after seven months of World Trade Organisation consultations, removes a big operational risk for financial information providers such as Thomson Reuters, Dow Jones and Bloomberg. PICTURED: A Chinese woman reads English financial news on the Reuters website on an LCD display in an office in Shanghai
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