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China bans new business with North Korea

In line with United Nations Security Council sanctions passed earlier this month

Christian Shepherd | Reuters 

China bans new business with North Korea

China's commerce ministry late on Friday banned North Korean individuals and enterprises from doing new 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 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 programme.

Reuters

First Published: Sat, August 26 2017. 21:57 IST
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