China slashes North Korea imports, holds exports steady

Chinese imports from North Korea fell 35 percent month-on-month in March, according to official figures released Tuesday, after Beijing suspended coal purchases to punish its nuclear-armed neighbour for missile tests. Total imports from the North by China - Pyongyang's sole major diplomatic ally and chief trading partner - stood at $114.56 million last month, down from 176.7 million in February, according to Chinese customs data.
Beijing on February 18 imposed a total halt on coal imports from the North until the end of 2017, hardening its stance after a new missile test by Pyongyang, in line with new sanctions adopted by the UN Security Council. The halt in coal exports aims to cut off a crucial supply of hard currency for Kim Jong-Un's regime. In 2016 China imported coal worth some $1.19 billion from the North.
But Beijing has maintained exports to the Stalinist regime. North Korea last month bought from its powerful neighbour some $29.1 million of electrical appliances and components, $21.5 million of plastics and manufactured components, and $23.9 million of synthetic fibers - most of which go back across the border in the form of finished clothes.
For the United States, this trading relationship gives China the necessary economic clout over Pyongyang to bring the rogue regime to heel - but Beijing staunchly denies this is the case. Tensions have soared in recent months as North Korean missile tests have brought ever-more bellicose warnings from US President Donald Trump's administration. The US has long pushed for China to make more efforts to curb Pyongyang's behaviour.
But Beijing has resisted, concerned that a regime collapse could trigger a flood of refugees across the border and leave the US military on its doorstep. However, it has become increasingly concerned as tensions rise in the flashpoint region, with experts warning of the possibility of a sixth nuclear test by the North.
"The last thing China wants is to see war break out in the region... given the geopolitical circumstances, (North Korea) must learn to be as flexible as they are determined," the state-run Global Times newspaper said Tuesday. President Xi Jinping called Monday for "restraint" regarding North Korea in a telephone conversation with his US counterpart Donald Trump.