The IFRS Foundation has today announced an update to its existing Memorandum of Understanding (MoU) with the Chinese Ministry of Finance (MoF). The updated MoU will ensure the International Sustainability Standards Board (ISSB) maintains its existing office in Beijing, which supports the ISSB’s exchange and cooperation, capacity building and innovation across China, developing and emerging economies.
The updated MoU was agreed during a visit to Beijing between 10 and 11 December by IFRS Foundation Chair of the Trustees Erkki Liikanen as part of a week-long visit to Asia.
In addition to the signing of the updated MoU, Mr Liikanen welcomed the appointment of Minwen Zhang to serve as Beijing office director and special advisor to the ISSB Chair. Ms Zhang brings extensive experience in international economic, financial and development cooperation, having previously led China’s participation in APEC and ASEAN forums for the MoF, worked for the World Bank Group in Washington, DC and the Asian Development Bank in Manila.
Commenting on the announcement, Erkki Liikanen said:
Our Beijing office has been effective in building capacity for ISSB Standards across China, as well as supporting our engagement within the world’s second-largest economy. The updated MoU ensures we can continue this important work into the future, organised by Minwen Zhang as our new office director. I would also like to thank our previous office director Zhengwei Zhang for his excellent contribution to our work over the last few years.
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IFRS Foundation strategy and governance
