China signs green agreements with the EU

The European Union has signed a finance agreement with China that will help the latter's transition to a low-carbon economy.

Chinese Minister of Commerce Chen Deming signed the deal in Brussels that will promote a reduction in greenhouse gases and set China firmly on the road to a low-carbon economy.

EU Climate Action Commissioner Connie Hedegaard said the agreement is a huge opportunity to modernize the economies of both the EU and China, stimulate growth and create jobs in new dynamic industries with innovative technologies and clean energy.

The EU said it was contributing US$32.4 million over four years for pilot projects in areas such as water, waste and heavy metal pollution, emission trading system and sustainable urbanization.