China anoints new internet regulator

China announced the creation of a new agency to supervise the internet, in an effort to better control an industry that was previously overseen by a handful of regulators, the Wall Street Journal reported, quoting reports from the state-run Xinhua News Agency. The new State Internet Information Office will be run by officials from the State Council Information Office, which regulates online content; the Ministry of Industry and Information Technology, which is responsible for technology and telecommunications; and the Ministry of Public Security, a law-enforcement body. Internet companies are currently required to obtain a patchwork of licenses from different regulators, including an internet content provider license from MIIT. Current regulations also restrict internet content licenses to local companies, meaning overseas-listed companies like Sina (SINA.NASDAQ) and Baidu (BIDU.NASDAQ) must operate through a local subsidiary or affiliate that holds the necessary licenses. Analysts said it was unclear whether the move would streamline China’s bureaucracy or add another layer. The SCIO said it would release more details on the new regulator on Thursday.