Xinhua ramps up financial data services

China's official news agency, Xinhua, began testing a new real-time financial data service on Wednesday, the Wall Street Journal reported. "Xinhua 08" provides information to more than 190 major financial institutions and companies in China, the news agency claimed. The information available covers currencies, financial markets, metals, energy and real estate taken from more than 20 foreign and domestic exchanges as well international economic and customs sources. Last year, the government announced plans to further limit foreign news, requiring foreign financial information companies to conduct local sales through a Xinhua-controlled agency rather than directly. Despite being a competitor to foreign news agencies, Xinhua – through its Foreign Information Administration Center – already acts as regulator for foreign content distributed in the mainland.