China bashes US punishment of Macau bank

China criticized a US move to punish a Macau bank for laundering North Korean funds, the Wall Street Journal reported. The US Treasury Department ordered banks on Wednesday to sever ties with Banco Delta Asia, which has US$24 million in frozen North Korean deposits. As part of an agreement reached last month during the six-party nuclear talks, Washington promised to resolve its blacklisting of Banco Delta; however, Wednesday's move appeared to fall short of that commitment. "We feel deep regret for the ruling," said Chinese Foreign Ministry spokesman Qin Gang, who suggested the move could impact both North Korea's disarmament and the bank's reputation. "In dealing with Banco Delta Asia, we must emphasize two points: First, it shall be conducive to the promotion of the six-party talks. Second, it shall be beneficial to financial and social stability," he said.