26 May 2010 12:23

China and US sign accords on energy cooperation

Shanghai. May 26. INTERFAX-CHINA - China and the United States have signed several accords on energy cooperation between the two countries on May 25 during their Strategic and Economic Dialogue 2010 in Beijing, various state media organs reported on the same day.

Among the dispatches, China's official Xinhua news agency reported that the 2010 Dialogue produced 26 outcomes, focusing primarily on the energy sector. Seven accords were signed, including the Memorandum of Further Cooperation on Nuclear Safety for the Westinghouse AP1000 Nuclear Reactor, the U.S.-China Shale Gas Resource Task Force Work Plan and the Memorandum of Understanding on Implementation of the Framework for EcoPartnerships Implementation Plan.

In addition, the two parties reiterated that they are to strengthen AP1000 cooperation and are willing to make concerted efforts to promote cooperation on the nuclear safety technology of High Temperature Gas-cooled Reactors.

They also said that they welcome the progress made on implementing the U.S.-China Memorandum of Understanding to Enhance Cooperation on Climate Change, Energy and Environment and the Ten Year Framework on Energy and Environment Cooperation and are to enhance practical cooperation in areas such as climate change, energy and environment, according to the reports.

The two countries held a working meeting of the Clean Energy Research Center on May 25. They will also hold the first U.S.-China Renewable Energy Forum and Advanced Bio-fuels Forum on May 26 and 27 and start work on the U.S.-China Renewable Energy Partnership, according to a U.S. State Department statement. In the second half of this year, they will hold the Electric Vehicles Forum, the Fifth U.S.-China Energy Policy Dialogue, and the Tenth U.S.-China Oil and Gas Industry Forum, the same statement noted.

Fu Mengzi, assistant president of China Institute of Contemporary International Relations, told Interfax that energy cooperation is a critical aspect of bilateral relationship between the two countries, given the current international concerns over climate change, emissions reduction and clean energy development.

Fu noted that the two countries agreed to invest $150 million in the Clean Energy Research Center over five years, according to the Sino-U.S. Joint Statement released during President Obama's visit to China last November. Fu thought that this indicates that both parties regard clean energy cooperation as an important part of their relationship.

"It is natural that the economic dialogue between China and the US is now focused on the energy sector, as it is becoming a global trend to update energy technology," Fu said. "Both countries share a common interest in this field."

According to Fu, China hopes to implement economic restructuring through the promotion of energy conservation and emission reduction. The U.S., on the other hand, has advocated technological development and an increase in its exports.

Before the Dialogue, U.S. Commerce Secretary Gary Locke led a trading delegation in China which included representatives from First Solar, Inc., General Electric Co. and Duke Energy Corp. to promote clean energy technology to potential Chinese clients.