China moves to restrict foreign news agencies

Xinhua, China's official news agency, yesterday issued rules demanding that international counterparts censor the news and information they distribute in China. It also bars them from dealing directly with local clients. The rules, which take effect immediately, mark a dramatic resumption of Xinhua's efforts to regulate the Chinese operations of rival agencies. They pose a threat to agencies such as Reuters, Dow Jones and Bloomberg, and could limit Chinese financial institutions' timely access to news and data. But it's unclear how forcefully Xinhua will be able to implement its new regime, which is likely to be opposed by domestic banks and other financial institutions as well as by the news agencies. (Via FT.com)