TAIPEI (Taiwan News) — The Ministry of Economic Affairs said Tuesday it has not approved any investment from China’s Luckin Coffee and will investigate if required.

If the brand enters through an agent, it is considered a commercial activity rather than a direct investment, the ministry explained, per CNA. Job postings cited in media reports were published by “Shun Yu Holdings Co. Ltd” on 104 Job Bank.

The ministry noted the company is fully Taiwanese-owned and officially registered on Sept. 19, though it will continue monitoring to determine if there is any Chinese investment involvement, per UDN.

The Department of Investment Review confirmed no investment applications from Luckin Coffee have been received. The ministry reiterated that agent-led introductions are commercial activities, which do not require approval from the department.

On trademarks, the Intellectual Property Office said Luckin Coffee applied for the “Luckin Coffee” mark on April 25 for coffee-related goods and services. Legal review found no grounds to deny registration, and approval has been granted pending formal registration and fee payment.

The ministry stressed it will monitor the situation and will handle any involvement of Chinese capital or regulatory violations according to law.