China bans new business with N Korea

New sanctions by China, Japan, US and UN are aimed at pressuring Pyongyang to end its nuclear weapons program


Reuters August 27, 2017
North Korean leader Kim Jong Un inspects the intercontinental ballistic missile Hwasong-14 in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang. PHOTO: REUTERS / FILE

BEIJING: China’s commerce ministry late on Friday banned North Korean individuals and enterprises from doing new business in China, in line with United Nations Security Council sanctions passed earlier this month.

New joint venture enterprises, new wholly owned businesses and the expansion of existing entities involving North Korean individuals or companies are prohibited in China, according to a notice released on the ministry’s website.

Applications for Chinese new or expanded investment in North Korea by Chinese companies would not be approved, the ministry said. The new measures take effect immediately.

New sanctions by China, Japan, the United States and the United Nations are aimed at pressuring Pyongyang to end its nuclear weapons program.

Published in The Express Tribune, August 27th, 2017.

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