DPRK joint ventures ordered to shut down

Updated:2017-09-29 14:48:23

  China has ordered companies and joint ventures from the Democratic People's Republic of Korea to shut down within 120 days as it applies UN sanctions imposed following Pyongyang's sixth nuclear test, the Ministry of Commerce and the State Administration for Industry and Commerce said on Thursday.

  Overseas Chinese joint ventures launched with DPRK firms or individuals should also be closed according to the sanctions from the United Nations, which did not give a deadline in a joint statement on its website.

  The UN Security Council unanimously adopted a resolution on Sept 12 imposing new sanctions on Pyongyang, including limiting its oil imports, banning its textile exports and restricting overseas firms from hiring DPRK citizens.

  Shi Yongming, a researcher at the China Institute of International Relations, said what China is doing is just implementing the UN resolution and Pyongyang should be ready for it.

  "Sanctions are by no means the ultimate goal," he said.

  The implementation of the sanctions is to make Pyongyang understand that the goal is always to bring the Korean Peninsula nuclear issue back to the negotiation table, Shi added.

  Lu Kang, the Foreign Ministry spokesman, said at a daily news briefing on Thursday that "the Korean Peninsula nuclear issue is related to regional peace and stability as well as vital interests of all parties concerned. Breaking the deadlock requires all relevant parties to show their sincerity."

  He said that both sanctions and talks are requirements of UN Security Council resolutions, and that it is not in accord with the spirit of UN resolutions to uphold one at the expense of the other.

  Zhou Jin and Xinhua contributed to this story.