This MoU ensures that the ISSB will continue operating its office in Beijing.

The International Financial Reporting Standards (IFRS) Foundation has renewed its memorandum of understanding (MoU) with the Chinese Ministry of Finance.

This move ensures that the International Sustainability Standards Board (ISSB) will continue operating its office in Beijing.

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This ISSB Beijing office, which opened in 2023, helps facilitate knowledge exchange, cooperation and capacity building in China and other developing or emerging markets.

The revised MoU was formalised during a recent visit to Beijing by IFRS Foundation chair of the trustees Erkki Liikanen, part of a week-long visit to Asia.

Besides the updated MoU, Minwen Zhang has been named director of the ISSB’s Beijing office. Zhang will also serve as special advisor to the ISSB chair.

Zhang’s background includes leadership in international economic and financial initiatives.

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She previously led China at Asia-Pacific Economic Cooperation and Association of Southeast Asian Nations forums for the Ministry of Finance, and worked for organisations including the World Bank Group in Washington, DC, and the Asian Development Bank in Manila.