China, EU plan concerted steps to nurture innovation

China and the European Union are planning further cooperation in the science and technology sector to sustain and nurture innovation.

The EU plans to invest 30 billion euros ($34.8 billion) from 2018 to 2020 to support global programs in science, technology and innovation through its Horizon 2020 program.

Up to 100 million euros will be used specifically to promote cooperation with China.