Li Peng criticised over regulation of financial news services

CHINESE Premier Li Peng met with criticism over Beijing's recent move to regulate financial news services when he saw senior European Commission leaders on his arrival in Bangkok.

European Commission Vice-President Sir Leon Brittan said the regulations violated world trade rules at a meeting last night. 'We have noted with disquiet the Chinese decision in relation to financial information services which we regard as a step backward and contrary to GATT (the General Agreement on Tariffs and Trade),' Sir Leon told reporters. China plans to tighten controls over foreign financial news services, with all contracts with Chinese clients going through Xinhua (the New China News Agency).

Sir Leon Brittan said the leaders discussed the possibility of China joining the World Trade Organisation.