China banks with North Korea ties under the spotlight

An Agricultural Bank of China building in Beijing, China, on Aug 26, 2016.
An Agricultural Bank of China building in Beijing, China, on Aug 26, 2016.PHOTO: REUTERS

How the US should deal with Chinese banks that defy sanctions to have dealings with North Korea has come into focus ahead of next week's meeting between United States President Donald Trump and North Korean leader Kim Jong Un.

The US has backed off, for now, from imposing a ban on two of China's biggest banks - Agricultural Bank of China and China Construction Bank, called Nong Hang and Jian Hang, respectively, in Chinese.

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A version of this article appeared in the print edition of The Straits Times on June 08, 2018, with the headline 'China banks with N. Korea ties under the spotlight'. Print Edition | Subscribe