China bans new business with North Korea in line with sanctions

Reuters

Posted at Aug 26 2017 11:37 AM

BEIJING - China's commerce ministry late 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 amid the reclusive state's persistent missile testing.

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

China, North Korea's largest trading partner, has been under pressure to take more decisive action to rein in the North amid its nuclear threats. 

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