In a bold and resolute move, China has ordered all North Korean companies to close by January 2018 – just 120 days away. The decision, which includes joint ventures with Chinese businesses, marks a notable strengthening in China’s position against North Korea.
Currently, North Korea owns more than 100 restaurants and art galleries in China, which employ North Korean workers and generate millions of dollars that are sent to Pyongyang. Adding to its renewed stance, China also demanded last week that central banks stop dealing with North Korean customers.
China has long been criticised by US President Donald Trump for continuing to work with North Korea. The country’s announcement signals its participation in the recently imposed UN sanctions against North Korea, which plan to limit citizens of the dictatorship from working abroad and minimise oil supplies by 30%.