China denies reports it ordered restrictions on financial dealings with N.K.

BEIJING, Sept. 22 (Yonhap) -- China on Friday denied media reports that it has ordered its banks to not open new transactions with North Korea as part of efforts to intensify sanctions against the country's continued provocations.

Earlier, foreign media reports said that the People's Bank of China has ordered other smaller banks to restrict their new dealings with the North.

"It is different from the truth that I know," Chinese Foreign Ministry spokesman Lu Kang said during a regular press briefing. It was in response to a question seeking confirmation of the reported central bank's action.

He didn't provide any clear answer, only saying that China is strictly and accurately implementing the U.N. Security Council's resolutions.

The spokesman still noted that China has consistently opposed any unilateral sanctions that are not in line with UNSC resolutions. He added, "That stance is clear and consistent."

The denial came after U.S. President Donald Trump announced new sanctions on Thursday that target individuals and entities having trade and financial transactions with the North. Trump even thanked Chinese President Xi Jinping for enforcing the reported restrictions.

China has opposed imposing such sanctions on individuals and entities doing business with the North apparently for fear that they could hurt the country most as it is known to be the largest trading partner for its reclusive neighbor.
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