China Bans New and Expanded North Korea Businesses
REUTERS/ Joseph CampbellPolitics07:52 26.08.2017(updated 08:05 26.08.2017) Get short URL
China’s Commerce Ministry said that individuals and firms from North Korea were no longer allowed to open new businesses or expand the existing ones.
BEIJING (Sputnik) — China’s Commerce Ministry said Friday individuals and firms from North Korea were no longer allowed to open new businesses or expand the existing ones on its territory.
The decision, published on the ministry’s website, comes three weeks after the UN Security Council passed a resolution curtailing Pyongyang’s foreign business and trade to force a revision of its illegal nuclear and missile policy.
The foreign trade regulator also warned it was no longer approving applications for new or additional Chinese investment in North Korea in line with the August 5 resolution. Starting in September, China will also stop importing North Korean coal, iron and iron ore on the UN blacklist.