Core Viewpoint - The International Financial Reporting Standards Foundation has renewed its memorandum of understanding with the Chinese Ministry of Finance, ensuring continued support for the International Sustainability Standards Board (ISSB) in China and other developing and emerging economies [1][2]. Group 1: Memorandum Renewal - The renewal of the memorandum was completed during Erkki Liikanen's visit to Beijing on December 10 and 11, as part of a week-long trip to Asia [2]. - The Beijing office of the Foundation will continue to be responsible for ISSB-related work and support capacity building and innovative practices in China [1][2]. Group 2: Leadership Changes - Erkki Liikanen welcomed the appointment of Zhang Minwen as the special advisor to the ISSB Chair and the director of the Beijing office [2]. - Zhang Minwen has extensive experience in international economics, finance, and development cooperation, having represented the Chinese Ministry of Finance in various multilateral mechanisms [2]. Group 3: Future Directions - Liikanen emphasized the importance of the Beijing office in advancing ISSB standards in China and deepening cooperation in the world's second-largest economy [2]. - The renewal of the memorandum ensures that the work will continue under the leadership of the new office director, Zhang Minwen [2].