NEW YORK--14 Nov--PRNewswire-AsiaNet/InfoQuest
Bloomberg L.P. today issued the following statement responding to the announcement of a settlement between the United States, the European Union, Canada and China in connection with the WTO dispute involving China's regulation of foreign financial information service providers:
We are very pleased that the governments involved in this dispute were able to resolve the issues during the negotiation phase of the WTO dispute resolution process, and that the result is a memorandum of understanding that covers all of the major aspects of China's regulation of financial information service providers such as Bloomberg. The settlement serves the vital interests of Chinese consumers of financial information, and thereby will help encourage the continued growth of the Chinese financial services sector, stable capital
markets, and the overall economy. More broadly, it recognizes the benefits of open markets and competition among providers and strengthens the global trading system.
We note particularly that the settlement will establish an independent regulator and licensing authority not affiliated with any competitive financial information provider, ensure our freedom to deal directly with our financial information customers and protect our proprietary commercial information, affirm our ability to establish a robust commercial presence for our financial information services in China, and confirm that China will treat foreign financial information service providers no less favorably than domestic suppliers.
We are deeply appreciative to all of the governments for their good faith and cooperation in reaching this settlement, and we especially thank U.S. Trade Representative Susan Schwab and her outstanding staff for their support and efforts on behalf of Bloomberg and other U.S.-based financial information service providers. The process by which this dispute has been resolved is a textbook example of the significant value of the WTO rules and the dispute resolution mechanism.
About Bloomberg
Bloomberg is the leading global provider of financial data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real-time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include the global BLOOMBERG NEWS(R) service with more than 2,300 professionals in over 140 bureaus worldwide; the BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and distributed worldwide on eleven channels in seven languages; and BLOOMBERG RADIO(R) services providing up-to-the-minute news on XM, Sirius and WorldSpace satellite radio globally and on WBBR 1130AM in New York. In addition, Bloomberg publishes BLOOMBERG MARKETS(R) magazine and BLOOMBERG PRESS(R) books
for investment professionals. For more information please visit
http://www.bloomberg.com .
BLOOMBERG, BLOOMBERG PROFESSIONAL, BLOOMBERG MARKETS, BLOOMBERG NEWS,
BLOOMBERG ANYWHERE, BLOOMBERG TELEVISION, BLOOMBERG RADIO, BLOOMBERG PRESS and
BLOOMBERG.COM are trademarks and service marks of Bloomberg Finance L.P., a Delaware limited partnership, or its subsidiaries. BTV is a trademark and service mark of Bloomberg L.P., a Delaware limited partnership. All rights reserved.
SOURCE: Bloomberg L.P.
CONTACT: Judith Czelusniak,
of Bloomberg L.P.,
+1-212-617-1212,
[email protected]
--Distributed by AsiaNet ( www.asianetnews.net )--