China Tells North Korean Firms to Close as Part of UN Sanctions

Tillerson to Discuss N. Korea in Weekend China Trip

China ordered North Korean companies active in the country to shut down as it seeks to implement United Nations’ sanctions against the hermetic regime.

Joint ventures between Chinese firms and North Korean entities and individuals will also have to close, according to a statement on the website of China’s Ministry of Commerce Thursday.

Companies are required to cease business within 120 days of Sept. 12 -- the day after the UN passed new sanctions aimed at punishing North Korea for its latest missile and nuclear tests. Non-profit and non-commercial public utility and infrastructure projects are not subject to the order, the ministry said.

The move comes ahead of U.S. Secretary of State Rex Tillerson’s visit to China at the weekend. North Korea is among topics to be discussed with senior Chinese leaders, along with President Donald Trump’s planned trip to the region and trade and investment issues, the State Department said in a statement on Wednesday. 

Watch This Next

Kim Jong Un: Nuke-Wielding Madman or Astute Dictator?

— With assistance by Feifei Shen

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE