China said on Monday that although nations still have significant differences over how to respond to global climate change, some agreements are achievable on financing and technology transfers, giving hope that the year-end summit in Cancun, Mexico would bring more concrete results if they are not legally-binding.

The Cancun meeting is expected to produce a more balanced and comprehensive result. On issues of fast and long-term financing, technology transfer mechanisms and forest protection, agreements are still attainable, Xie Zhenhua, vice minister of the National Development and Reform Commission, said at a press conference on the sidelines of a United Nations Climate Change meeting held in Tianjin, a port city in northern China.

After three rounds of talks this year, which are moving slowly towards a negotiating text for the Cancun meeting, more than 3,000 delegates from 194 nations gathered in Tianjin to accelerate the search for common ground.

Christiana Figueres, the UN's chief climate change negotiator, said developed nations had honored their pledge to raise $28 billion, of the total $30 billion, for poorer nations by 2012.

Xie Zhenhua, however, said only a small part of this money is new, while the rest are "old-pledges".

Xie also noted it is good to see developed nations, which have been hard hit by the global financial crisis, beginning to raise this money, at least. However, more efforts are needed to fill the pool gradually.

"More importantly, developed nations should honor their commitment of raising $100 billion per year after 2020," he said.

He also noted that some developed countries still apply tough standards on developing nations's voluntary efforts of emission reductions. This, he said, runs against the principal of equality, including the common but differentiated responsibilities between developed and developing nations.

Further, the negotiations should proceed in line with the guidance from the Kyoto Protocol and Bali Road Map, he said.

At the end of 2009, China announced plans to cut greenhouse gas emissions per unit of GDP by 40 to 45 percent by 2020 from 2005 levels.

Nationwide, efforts have been made to meet the target of improving energy efficiency by 20 percent from 2005 to 2010.

Also, the government has been stepping up closures of outdated production capacity, which have been blamed for pollution and hindering the upgrading of industries.

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