China's trade with North Korea rises 10%

China's trade with North Korea rises 10%

China's trade with North Korea rises 10%

Chinese purchases of North Korea iron ore rose 34 per cent from a year earlier in the first five months of the year, according to a South Korean industry group, the Korea International Trade Association.

China has slashed imports of coal from North Korea even as overall trade between the countries continues to rise.

China's Customs Administration announced Thursday that trade with the global pariah North grew 10.5 percent to $2.5 billion between January and June, with exports soaring to 29.1 percent during that period.

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The Trump administration angered China last month by imposing sanctions on a Chinese bank accused of laundering North Korean cash and approving a $1.3 billion arms sale to Taiwan, which Beijing considers a breakaway province.

President Trump has repeatedly criticized China over its trade with North Korea, calling on it to exert more pressure on Kim Jong-un's regime.

Trump angrily ended his tweet: "So much for China working with us - but we had to give it a try!"

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"Trade between China and North Korea grew nearly 40 per cent in the first quarter". Pyongyang has also conducted five nuclear tests, in violation of global sanctions. "As neighbours, China and North Korea maintain normal business and trade exchanges", he said, adding that goods for ordinary people and those used for humanitarian reasons are not subject to sanctions.

The new data reflects China's attempt to pull off a delicate balancing act between the USA and North Korea, where it wants to prevent the regime collapsing because it worries about what that would mean for regional stability.

Mr Moon also said the two Koreas must halt hostile activities along the border, restart family reunions and cooperate on the 2018 Winter Olympics to be held in Pyeongchang, South Korea.

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