EU and China launch new Co-Funding Mechanism for research and innovation joint projects under Horizon 2020
Today's high level joint conference in promoting excellence through enhanced EU-China researcher's mobility and cooperation launched a new Co-funding Mechanism (CFM) for research and innovation.
The mechanism is managed by the European Commission Directorate General for Research and Innovation on the EU side and by Beijing Ministry of Science and Technology on the Chinese side and it is funded by each side.
To implement the financing instrument, the European Commission intends to spend over the period 2016-2020 more than 100 million euro a year for the benefit of Europe-based entities in joint projects under Horizon 2020 with Chinese participants.
For its part, China will provide corresponding resources and expects to spend 200 million yuan a year for the benefit of China-based entities participating in joint projects with the European ones.
