Chinese Official Warns US Not to Use NKorea as Excuse for Imposing Sanctions

China's vice-finance minister said Beijing would implement all sanctions imposed on North Korea as a result of its missile tests, but warned the U.S. not to use them as an excuse to impose sanctions against China's financial institutions.

"As a Security Council permanent member, China will of course implement all relevant resolutions," he said. "But the U.S. should not use their domestic laws as excuses to levy sanctions against Chinese financial institutions."

Speaking ahead of the G20 summit in Hamburg, Zhu Guangyao also called on leading economies to cooperate on global steel overproduction rather than engage in finger-pointing, since overcapacity could harm global growth. (Reporting by Thomas Escritt; editing by Andrew Roche)