EU and China launch R&I joint funding tool
Brussels and Beijing have established a new co-funding mechanism (CFM) that aims to support joint research and innovation activities between the EU and China.
The tool will be implemented in sectors of strategic common interest and mutual benefit, including food, agriculture, biotechnology, green transport, sustainable urbanisation and ICT. Also set to benefit is energy, health and mobility of young researchers.
Following a bilateral meeting earlier this week in Beijing with Chinese Minister of Science and Technology Wan Gang, European Research Commissioner Carlos Moedas commented: “The establishment of the co-funding mechanism will have a major impact on the EU-China strategic partnership, in which co-operation in research and innovation has now become a significant component.”
Adding his thoughts, Gang said: “Co-operation in S&T forms a vital part of the comprehensive EU-China relationship and science and innovation fuels economic growth and social development.”
Both Moedas and Gang also expressed their ‘strong commitment’ to the strategic importance of deepened co-operation to address global challenges.
The CFM was announced at the high level ‘Joint Conference in Promoting Excellence through Enhanced EU-China Researcher’s Mobility and Cooperation’ conference on Monday and sees the European Commission spend over €100m annually to benefit Europe-based entities in joint projects with Chinese participants under Horizon 2020.
China will match corresponding resources and expects to spend Chinese Yuan Renminbi (RMB) ¥200m (~€28m) per year for the benefit of Chinese-based entities that will participate in joint projects with Europeans under the EU R&I framework programme.
Moedas is on a four-day visit to China in order to deepen science and research ties. The tour ends on Thursday.
