China Won't Contend WTO's E-Payments Favoritism Ruling

Law360, New York (August 31, 2012, 2:18 PM EDT) -- The World Trade Organization's findings that China's banking regulations favor its state-owned credit card administrator at the expense of foreign counterparts such as Visa Inc. and Mastercard Inc. will stand after China declined to appeal the ruling, China's state news agency reported Friday.

Xinhua said China's Ministry of Commerce allowed to pass unimpeded a WTO dispute panel's recent report that China UnionPay unfairly benefited from the government's policy granting it a monopoly on the processing of certain credit and debit card transactions involving Chinese currency that...
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