China says North Korean businesses in country will shut within 120 days of UN resolution

China on Thursday said North Korean firms or joint ventures in the country will be shut within the 120 days of the latest United Nations Security Council sanctions passed on September 12.

In a statement, the commerce ministry said that Overseas Chinese joint ventures with North Korean entities or individuals will also be closed.

On September 12, the United Nations Security Council (UNSC) voted unanimously to enhance sanctions on Pyongyang, banning its textile exports and capping fuel supplies.

The decision to boost the sanctions was spurred after North Korea’s sixth and largest nuclear test this month. It was the ninth Security Council sanctions resolution over North Korea’s ballistic missile and nuclear programs since 2006.

Taking into account the worst case scenario in the event of a war on the Korean peninsula, China struck a cautionary tone saying it will have no winner.

UCJ, UNILORIN.