RE: its time for solid commitments, MoU's are worthless8 Nov 2021 07:21
It is very significant. Chinese companies see the MOU as equivalent to a contract. This is why there is a public ceremony , signing. It’s about honour and not losing face.
A memorandum of Understanding (MOU) is a legal document indicating the intended start of collaboration of two parties. This international legal document is globally used to signal the willingness of parties to move forward.
GLA