The IFRS Foundation renews its MoU with the Chinese Ministry of Finance, ensuring continued cooperation and appointing a new office director in Beijing.
Key Points
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📝 MoU Update: IFRS Foundation updates its Memorandum of Understanding with China's Ministry of Finance
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🌏 Beijing Office: The ISSB's Beijing office will continue its work on capacity building and innovation
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📅 Key Dates: The updated MoU was signed during a visit to Beijing on December 10-11
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👩💼 New Leadership: Minwen Zhang appointed as the new office director and special advisor to the ISSB Chair
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👏 Thank You: Previous director Zhengwei Zhang acknowledged for his contributions
🔄 The MoU Update
In a significant move, the IFRS Foundation has renewed its Memorandum of Understanding (MoU) with the Chinese Ministry of Finance (MoF). This updated MoU ensures that the International Sustainability Standards Board (ISSB) will maintain its office in Beijing. This office is crucial for fostering exchange and cooperation, capacity building, and innovation across China and other developing economies.
🌏 Beijing Office Stays Busy
The MoU was signed during a visit to Beijing on December 10-11 by IFRS Foundation Chair of the Trustees, Erkki Liikanen. This visit was part of a week-long tour of Asia aimed at strengthening international cooperation. The Beijing office of the ISSB plays a pivotal role in building capacity for ISSB Standards in China, the world's second-largest economy.
👩💼 New Leadership in Town
With the renewed MoU comes new leadership. Minwen Zhang has been appointed as the new office director and special advisor to the ISSB Chair. Zhang brings a wealth of experience in international economic, financial, and development cooperation. Her impressive résumé includes leading China's participation in APEC and ASEAN forums for the MoF, and stints at the World Bank Group and the Asian Development Bank.
👏 A Nod to the Past
Erkki Liikanen took the opportunity to thank the previous office director, Zhengwei Zhang, for his outstanding contributions over the past few years. > "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," said Liikanen. The updated MoU and new leadership aim to continue this important work into the future.
