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Asia

Chinese trade with North Korea jumped 10% in the first half of this year, according to China Customs

China Customs said Thursday that the country’s overall trade with North Korea had grown 10 percent in the first half of the year.

Imports from North Korea actually fell 13.2 percent to $880 million, it said, but exports to the pariah state jumped 29 percent to $1.67 billion. The announcement came amid a broader release of Chinese first half data.

China’s ambassador to the United States said just this week that reports of trade growth between his country and North Korea, in spite of international efforts to press Pyongyang to give up its nuclear and missile programs, give “a distorted picture.”

Notably, China Customs said its first-half coal and iron ore imports from North Korea were in line with U.N. Security Council resolutions.

President Donald Trump last week criticized China for its ties with North Korea’s government following the launch of a test missile, saying that China’s economic interests undermined its ability to challenge President Kim Jong-un’s totalitarian regime.

The UN and the U.S. have attempted to use sanctions for the past decade in an attempt to stem North Korea’s nuclear weapons development, but the latest July 4 test, which demonstrated a significant advance in its capabilities, have forced international bodies to reconsider their response going forward.

This is a breaking news story. Check back for updates.

—Reuters and CNBC’s Karen Gilchrist contributed to this report.

Source: cnbc china
Chinese trade with North Korea jumped 10% in the first half of this year, according to China Customs

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