All North Korean firms and joint ventures in China to be closed

South China Morning Post/Liu Zhen & Kristin Huang/09-28-17

China announced on Thursday that all North Korean firms and joint ventures in China would be closed, as part of the latest sanctions imposed on Pyongyang over its nuclear weapons programme.

All existing joint ventures with North Korean firms in China, as well as entities solely owned by North Korean companies or individuals, are to be closed within 120 days from September 11, when the sanctions were adopted, a notice from the Ministry of Commerce said.

Joint ventures set up overseas by Chinese firms and North Korean entities or individuals should also be closed, it said.

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