China: North Korean businesses have 120 days to get out

gettyimages 826889632 China: North Korean businesses have 120 days to get out

TOPSHOT – In a photo taken on July 21, 2017 pedestrians and vehicles pass before the portraits of late North Korean leaders Kim Il-Sung (L) and Kim Jong-Il (R) in Pyongyang. China urged North Korea August 6 to make a “smart decision”, after the United Nations imposed tough new sanctions on the isolated regime over its missile and nuclear programmes. (ED JONES/AFP/Getty Images)

BEIJING  — Chinese news reports say the government has ordered most North Korean-owned businesses and ventures with Chinese partners to close under U.N. sanctions imposed over the North’s nuclear and missile programs.

A Ministry of Commerce order quoted by multiple news outlets on Thursday said businesses owned by North Korean companies or individuals must close within 120 days of the Sept. 11 approval of the latest sanctions.

China is North Korea’s main trading partner and businesses in China help to provide the isolated country with foreign currency.

U.N. sanctions that have been steadily tightened ban North Korea from selling coal and textiles and order other governments to limit fuel supplies.

 

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