EU and China launch new Co-Funding Mechanism for research and innovation
The co-funding mechanism is established by the Ministry of Science and Technology on the Chinese side and the European Commission Directorate General for Research and Innovation on the EU side with funding resources on each side. To implement the co-funding mechanism (CFM) highlighted in the Joint Statement of the 17th EU-China Summit, building on Horizon 2020 on the EU side and relevant research and innovation programmes on the Chinese side, during the period from 2016 to 2020, the European Commission expects to continue spending over 100 million Euros per year for the benefit of Europe-based entities in joint projects under H2020 with Chinese participants. China will match corresponding resources and expects to spend 200 million RMB per year for the benefit of Chinese based entities that will participate in joint projects with European ones under Horizon 2020.
The co-funding mechanism aims to support joint research and innovation activities on topics in strategic areas of common interest and mutual benefit, such as food, agriculture, biotechnology, green transport – including aviation –, sustainable urbanisation, information and communication technologies, energy, health and mobility of young researchers.