China, U.S. agree transition to green, low-carbon economy essential

BEIJING, Nov. 17 (Xinhua) -- China and the United States singed a joint statement here Tuesday after talks between Chinese President Hu Jintao and his U.S. counterpart Barack Obama, agreeing that "the transition to a green and low-carbon economy is essential."

Both China and the United States believed the clean energy industry will provide vast opportunities for citizens of both countries in the years ahead, said the statement signed during Obama' s first visit to China since taking office in January.

According to the statement, the two sides welcomed significant steps forward to advance policy dialogue and practical cooperation on climate change, energy and the environment, building on the China-U.S. Memorandum of Understanding to Enhance Cooperation on Climate Change, Energy and Environment announced at the first round of China-U.S. Strategic and Economic Dialogues in July and formally signed during Obama' s visit.

The statement said both sides recognized the importance of the Ten Year Framework on Energy and Environment Cooperation (TYF) and are committed to strengthening cooperation in promoting clean air, water, transportation, electricity, and resources conservation.

Through a new China-U.S. Energy Efficiency Action Plan under the TYF, both countries "will work together to achieve cost-effective energy efficiency improvement in industry, buildings and consumer products through technical cooperation, demonstration and policy exchanges," said the statement.

Noting both countries' significant investment in energy efficiency, the two Presidents underscored the enormous opportunities to create jobs and enhance economic growth brought by energy savings.

The two countries welcomed the signing of the Protocol Between the Ministry of Science and Technology, National Energy Administration of the People's Republic of China and the Department of Energy of the United States of America on a Clean Energy Research Center, according to the document.

The Center will facilitate joint research and development on clean energy by scientists and engineers from both countries. It will have one headquarters in each country, with public and private funding of at least 150 million U.S. dollars over five years split evenly between the two countries. Priority topics to be addressed will include energy efficiency in buildings, clean coal (including carbon capture and sequestration), and clean vehicles.