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China Financial Information Services Dispute

request. GATS claims (XVI, XVII and XVIII) and China’s protocol of accession are the focus, but there is also a TRIPS claim in the EC request. complaint:

moncler jackets outlet China requires foreign financial information suppliers to supply their services through an entity designated by Xinhua News Agency (“Xinhua”). Xinhua has designated only one agent, China Economic Information Service (“CEIS”), one of Xinhua’s commercial enterprises. China prohibits foreign financial information suppliers from directly soliciting subscriptions for their services, requiring that solicitation of subscriptions be done through the Xinhua designated entity. China likewise prohibits users of financial information services in China from directly subscribing to services supplied by foreign suppliers. Furthermore, in order to renew their licences, China requires foreign financial information suppliers to provide the Foreign Information Administration Center (“FIAC”), a regulatory body within the Xinhua framework, detailed and confidential information concerning their financial information services and their customers along with a monlcer down jackets copy of an agreement with the designated agent. China also requires customers to provide FIAC detailed information regarding their financial information services moncler outlet sale contracts with foreign suppliers. These and other requirements and restrictions appear to accord less favorable treatment to foreign financial information services and service suppliers than that accorded Chinese financial information services and service suppliers which are not affected by these requirements and restrictions. moncler jackets outlet

cheap moncler jackets sale The United States maintains that China’s restrictions and requirements limit the ability of foreign suppliers of financial information services to conduct business in China and place them cheap moncler jackets at a competitive disadvantage in the marketplace. As such, China appears to be acting inconsistently with several moncler outlet WTO provisions, including Articles XVI and XVII of the General Agreement on Trade in Services as well as commitments made by China in Moncler Outlet its WTO accession agreement. cheap moncler jackets sale

cheap moncler jackets Here’s a USTR fact sheet as well. cheap moncler jackets

moncler outlet From EC DG Trade’s background memo: moncler outlet

moncler outlet uk The relevant Chinese measure appears to breach China’s GATS commitments on national treatment and market access, which require that foreign companies can cheap moncler sale operate in China and are not treated less favourably than local ones. It is also contrary to obligations not to cut back on existing rights for companies and to provide regulatory independence, which China committed to ensure at the time of its WTO Accession in 2001. moncler outlet uk

The official WTO consultations request documents should be available later this week.

moncler outlet sale Who are the companies that are the major players in the industry? cheap moncler coats AFP reports: moncler outlet sale

moncler sale outlet Financial information services, the subject of WTO trade complaints against China by the US and European Union, are dominated by US firm Bloomberg and Canadian British Thomson Reuters in the process of merging. moncler sale outlet

The two heavyweights, each with a third share of the global market, are trailed at a distance cheap moncler outlet by three US companies and one Swiss firm, according to Inside Market Data, which reports on the global financial market data sector.

cheap moncler outlet US based Interactive Data, owned by moncler sale outlet British group Pearson, is the closest runner up, with a five percent market share. cheap moncler outlet

moncler jacket sale Dow Jones, bought last year by News Corporation, holds a three percent slice, as does US rival Factset. Switzerland based Telekurs has a two percent share. moncler jacket sale

As mentioned a couple months ago, some countries had expressed concerns that China was placing restrictions on foreign providers of news related financial information services. Things seem to be heating up. files a complaint with the WTO over Chinese trade policy, the Associated Press learned Wednesday. Trade Representative signaled it has run out of patience with China’s refusal to change rules introduced two years ago that appeared to boost the official Xinhua News Agency moncler mens jackets at the expense of news and financial information companies such as Reuters Group PLC and Bloomberg LP.

As noted, this article was from the AP. I’ll be curious to see how Reuters, Bloomberg and Xinhua cover the dispute.

cheap moncler coats ADDED: Here is a Reuters article. They don’t seem to be taking the issue too personally. cheap moncler coats

moncler outlet store AND here comes the EU as well. moncler outlet store

moncler sale Another China WTO dispute on the horizon: moncler sale

cheap moncler China was criticised at the World moncler outlet online Trade Organisation on Monday for its restrictions on foreign news agencies who are unable to sell their information to local media, trade sources said. cheap moncler

Canada, the United States, Japan and the European Union all requested more information from China over the measures it introduced last year, during a meeting on financial services at WTO headquarters here, the sources said.

In September 2006, China renewed the monopoly held by the state news agency Xinhua, which precludes foreign providers of news financial information services from dealing directly with Chinese clients, but instead have to go through a Xinhua affiliate.

moncler outlet jackets China said cheap moncler in response moncler sale that it did not make any commitments on news agency services during its WTO accession talks in 2001. moncler outlet jackets

“Although some foreign news agencies are providing ‘financial information services’ for their Chinese users and claim themselves to be ‘financial information providers’ or ‘financial services companies’, their identities as ‘news agencies’ remain unchanged,” China’s delegate told the meeting.

moncler outlet online “Therefore, the foreign news agencies releasing news and information in the territory of China shall comply with the measures,” the Chinese representative buy moncler jackets added. moncler outlet online

I don’t know exactly which companies are behind this, but the reference to “financial information services” sounds like it could be companies like Bloomberg. Maybe Michael Bloomberg should run for President so that he can push this issue himself.