China agrees to loosen controls on news providers

GENEVA (AP) -- The United States, European Union and Canada have reached an out-of-court settlement with China in a dispute over restrictions placed on foreign financial information providers.

U.S. Trade Representative Susan Schwab says companies such as Thomson Reuters, Bloomberg and Dow Jones will now be able to more easily sell financial information to Chinese customers.

The Chinese mission confirmed that a settlement was signed Thursday in Geneva.

The U.S. joined with the EU and Canada in March to file a complaint against China before the World Trade Organization.

The case demanded that China loosen restraints on foreign companies vying for a greater slice of the country's lucrative market for financial information.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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