(Yicai Global) Aug. 28 -- China has barred North Korean entities or individuals from setting up new companies in the country and from adding investment in existing firms to enforce a United Nations Security Council resolution, China's commerce ministry said Aug. 25.

North Korean entities and nationals are prohibited from establishing any new joint ventures or wholly-owned enterprises or expanding investment in existing firms in China, the announcement said. Applications for new or added investment by North Koreans in violation of the resolution will not be approved, per the Administrative Measures on Outbound Investment (Commerce Ministry Order 2014 No. 3).