EU and China strike co-funding deal

The EU will contribute to a joint EU-China fund for research and innovation through Horizon 2020, and China through equivalent funding programmes, as a result of an agreement reached during the 17th EU-China summit.

The agreement to establish the joint fund was reached in Brussels on 29 June by Carlos Moedas, commissioner for research, science and innovation, and Wan Gang, Chinese minister for science and technology. The two parties also agreed to ensure that they have reciprocal access to each other’s research and innovation programmes through the eligibility criteria and the exchange of data and information. 

In addition, the EU-China summit joint statement said that the two parties confirmed their “strong interest” in each other’s innovation investment initiatives, namely the European Fund for Strategic Investments and China’s equivalent funds, the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The countries agreed that they would direct the EU-China High-Level Economic and Trade Dialogue that is taking place in September to develop means for cooperating on innovation investment, including a possible co-investment vehicle.