The Straits Exchange Foundation (SEF; ; often abbreviated as 海基會) is a semiofficial organization set up by the Government of the Republic of China (Taiwan) to handle technical and or business matters with the People's Republic of China (PRC). Though technically a private organization, it is funded by the government and under the supervison of the Mainland Affairs Council of the Executive Yuan. Its role is effectively to function as the "de facto" embassy to the PRC, as a means of avoiding acknowledgement of the PRC's statehood status.