“The U.S. and China are targeting the finances of a sprawling Chinese conglomerate headed by a Communist Party member who the Obama administration believes has played a role in aiding North Korea’s nuclear program.

The actions against the company, Hongxiang Industrial Development Co., mark the most serious effort to date to pursue Chinese firms and business executives for their suspected role in supporting North Korean leader Kim Jong Un’s rapidly expanding nuclear-weapons program. Earlier this month, Pyongyang conducted its fifth atomic test in a decade.”

Source: U.S., China Move Against Firm Suspected of Aiding North Korean Nuclear Program – WSJ