The consultations requests in the China - Financial Information Services dispute are now available: EC request and U.S. 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. Here's a brief summary of some of the key aspects of the dispute, from the U.S. complaint:
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 copy of an agreement with the designated agent. China also requires customers to provide FIAC detailed information regarding their financial information services 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.
