China slams US for ‘long arm ju­ris­dic­tion’ on bank

Global Times - Weekend - - FRONT PAGE - By Xie Jun

China’s for­eign min­istry on Fri­day said the US is con­duct­ing “long arm ju­ris­dic­tion” af­ter the US sev­ered the Bank of Dan­dong in North­east China’s Liaon­ing Prov­ince.

China, as a per­ma­nent mem­ber of the UN Se­cu­rity Coun­cil, has al­ways been car­ry­ing out the UN’s North Korea-re­lated res­o­lu­tions and in­ter­na­tional duty thor­oughly, ac­cu­rately, care­fully and strictly, For­eign Min­istry Spokesper­son Hua Chun­y­ing said at a news brief­ing on Fri­day.

“We are firmly against any coun­try, based on their own laws, con­duct ‘long arm ju­ris­dic­tion’ on other coun­tries,” Hua noted.

The US Trea­sury Depart­ment’s Fi­nan­cial Crimes En­force­ment Net­work (FinCEN) on Thurs­day sev­ered the Bank of Dan­dong af­ter con­clud­ing that the bank was of “pri­mary money laun­der­ing con­cern for serv­ing as a gate­way for North Korea to ac­cess the US and in­ter­na­tional fi­nan­cial sys­tems,” ac­cord­ing to a state­ment on its web­site.

The Bank of Dan­dong didn’t re­ply to an in­ter­view re­quest from the Global Times on Fri­day. The Peo­ple’s Bank of China, China’s cen­tral bank, also could not be reached on Fri­day.

The Fi­nan­cial Times re­ported on Fri­day that such events as US ques- tion­ing of China’s re­la­tion­ship with North Korea will con­tinue to “dog” Sino-US ties.

How­ever, Jin Qiangyi, direc­tor of Yan­bian Univer­sity’s Asia Re­search Cen­ter, said on Fri­day that this is an iso­lated case and will not af­fect Si­noUS re­la­tions.

“Sino-US re­la­tions will not be in­flu­enced by the US govern­ment’s sanc­tions against cer­tain Chi­nese banks,” Jin told the Global Times.

But he said that the US’ de­ci­sion against Bank of Dan­dong might be a sig­nal that the US is creat­ing an “at­mos­phere” which would help the US gain an edge in its up­com­ing talks with China.

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