China to strictly carry out lat­est UN sanc­tions against N.Korea as trade de­clines

Global Times US Edition - - BIZUPDATE - By Huang Ge

China has been com­pre­hen­sively and strictly car­ry­ing out UN sanc­tions against North Korea, and will con­tinue to com­ply with the world body’s lat­est mea­sures against the coun­try, a Chi­nese of­fi­cial said Thurs­day.

The Min­istry of Com­merce (MOFCOM) said it will work with rel­e­vant de­part­ments to roll out de­tailed mea­sures based on Chi­nese laws and reg­u­la­tions at ap­pro­pri­ate times in re­sponse to the UN’s new sanc­tions against North Korea re­lated to eco­nomic and trade sec­tors, Gao Feng, spokesman for MOFCOM, told a press con­fer­ence held in Bei­jing.

The UN Se­cu­rity Coun­cil on Mon­day unan­i­mously an­nounced sanc­tions against North Korea over the coun­try’s lat­est nu­clear test on Septem­ber 3, im­pos­ing a ban on North Korea’s tex­tile ex­ports and lim­it­ing im­ports of crude oil.

Start­ing from this year, trade be­tween China and North Korea has been slow­ing month by month, Gao said.

From Jan­uary to July, bi­lat­eral trade rose by 10.2 per­cent year-on-year, down 21 per­cent­age points com­pared with the first quar­ter of this year, ac­cord­ing to MOFCOM data.

China’s im­ports from North Korea be­gan to see neg­a­tive growth from March on­ward, Gao said, adding that China’s im­ports from North Korea de­creased 16.3 per­cent year-onyear in the first seven months.

Trade be­tween China and North Korea is ex­pected to have slowed fur­ther in the Jan­uary to Au­gust pe­riod, Gao said.

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