7:17 pm - Sunday September 25, 2016

WTO rules China to open markets

World Trade Organization ruling China to ease some of its curbs on foreign films, music, and books while the U.S. hailed the ruling order.

The U.S. Trade Representative Ron Kirk said WTO panel handed a significant victory to America’s creative industries, “These findings are an important step toward ensuring market access for legitimate U.S. products in the Chinese market, as well as ensuring market access for U.S. exporters and distributors of those products.”

Kirk also mentioned that ruling could put an end to China’s discriminatory trade practices while the decision promises to level the playing field for American companies working to distribute high-quality entertainment products in China.

WTO said China goes against free trade rules by blocking media products’ importers to distribute directly to Chinese markets. They need to pass media products such as films, DVDs, music downloads, and print through state-owned companies.

On the other hand, China denied the charges in the ruling. China has insisted its system is fair.

A spokesman for China’s Ministry of Commerce, Yao Jian, said on Thursday that China will carefully evaluate the decision and it might appeal against the ruling.

Source: CNN, BBC



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