September 28, 2017

China will close joint ventures (JVs) or cooperative and foreign entities established by North Korean organizations or individuals in China within 120 days of the adoption of Resolution 2375 of the UN Security Council, according to a statement on the website of the Ministry of Commerce (MOFCOM) Thursday. 

Overseas Chinese JVs and cooperative entities with North Korean entities and individuals will also be closed in line with the resolution but non-profit projects approved by the UN Security Council will be exempt. 

North Korean companies' income from operating in China constitutes a considerable part of Pyongyang's foreign currency, which means closing these entities will greatly reduce its foreign exchange, Lü Chao, an expert on Korean studies at the Liaoning Academy of Social Sciences, told the Global Times.

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http://www.globaltimes.cn/content/1068752.shtml