China to ease licensing curbs

China agreed to ease limits on foreign financial-information providers, shifting control of licensing to an independent regulator from the state-owned news service, after a trade complaint by the U.S. and Europe.

Under the deal with the European Union, the U.S. and Canada, information suppliers will provide a level playing field for all operators in China. The changes, agreed to in talks after the three governments filed complaints with the World Trade Organization, will be put in place by June 1.

In the joint complaint lodged in March, the U.S. and the EU said China had violated global trade rules by giving New China News Agency the right to issue annual licenses for overseas media groups, barring them from directly soliciting subscribers in China.