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'China Halts NK Remittances, NK Workers Leaving'

Written: 2006-10-16 17:54:29Updated: 0000-00-00 00:00:00

'China Halts NK Remittances, NK Workers Leaving'

Chinese businesspeople with investments in or trade with North Korea feel increasing jitters saying China's sanctions on the North will come at anytime.

On Sunday, the U.N. Security Council imposed sanctions on the Pyongyang regime for its reported nuclear test last week.

Since the test, many in China have been informed by their country's banks that remittances to North Korea have been suspended while more and more workers from the North are leaving China.

Some suspect that Beijing had slapped stringent sanctions even prior to the U.N. resolution.

Banks in Dandong are in fact known to have suspended remittances to North Korea from Friday.

A Korean-Chinese trader in Dandong cited rumors that North Korean accounts in China will be frozen and that accounts opened by North Korean branch offices could also be included. He added, however, that most North Koreans tend to trade in cash.

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