CUT OFF

Beijing: All North Korean Companies and Joint Ventures in China Will Be Closed

To comply with new U.N. sanctions on its belligerent neighbor.

The Chinese government announced Thursday that all North Korean firms and joint ventures in China will be closed in compliance with the most recent sanctions against Pyongyang. All North Korean-owned companies have 120 days from the sanctions’ Sept. 11 adoption date to shut down. Nonprofit and non-commercial infrastructure projects approved by the U.N. Security Council will be exempted. The new sanctions, the harshest imposed yet, also ban textile exports and further restricts North Korea’s oil supply. The latest round of sanctions followed the Kim Jong Un regime’s nuclear power test this month, its sixth and most powerful to date.