Shanghai's Lingang area, the Greater London Authority (GLA) and Imperial College London (ICL) Monday jointly signed here a cooperation agreement to create a low-carbon valley in Lingang area, integrating multi-functions such as technology innovation of low carbon, financial services, education, training and products demonstration.

The organizers told Xinhua that Shanghai recently issued a document regarding the acceleration of building global innovation centers for science and technology in Shanghai. Lingang area was selected to be one of the six important demonstration regions, according to the document.

The agreement signed Monday is expected to promote innovation and technology of low carbon in Lingang area by introducing advanced financial services, technologies and educational resources from London.

The cooperation is also predicted to attract British companies to involve low-carbon projects in Lingang area and promote communications among the three parties.

"The agreement we signed today will be an all-round cooperation, which includes a series of cooperation projects," said Tang Wenkan, director of the comprehensive plan office in development and construction management committee of Lingang area.

Lingang area, GLA and ICL plan to form an investment fund for low carbon innovations, Chen Mingbo, executive deputy director of development and construction management committee in Lingang area, told Xinhua.

"The fund is expected to be the first investment fund about low carbon in the world. The fund not only has investment function, but also could support small and medium-sized enterprises to involve low carbon innovations," said Chen.

"We also plan to form a trading and show center of low carbon information, to establish a low carbon education training center, and to set up a international college of low carbon between ICL and Shanghai Jiaotong University," Chen added.

"We hope the cooperation will further enhance the capacity of Lingang in attracting international innovation resources and congregate low carbon tech companies both from China and Britain in Lingang." Endit

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