Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change makes a speech at the opening session on Oct 4 in Tianjin. [Xinhua]

"We are looking forward to negotiations that would lead to creation of a new fund that will streamline the various funding sources and needs under the Convention", he said.

Negotiations on several key issues had not progressed as yet, including the future of Kyoto Protocol and the pledges put forward by the parties to slow down the growth of greenhouse gas emissions, Figueres said.

She cited the idea of "seeking commonalities while putting aside differences" raised by former Chinese Premier Zhou Enlai in 1955, saying that it is as pertinent now as it was then.

CHINA'S PART

At the opening session, China's State Councilor Dai Bingguo said China will continue playing an active and constructive part in the climate talks.

Dai suggested the negotiations should stick to the basic framework of the UNFCCC and Kyoto Protocol and the mandate of the Bali Roadmap and follow the principle of "common but differentiated responsibilities."

The developed countries should set the targets to take the lead in reducing the greenhouse gases emissions and the arrangements should be made to provide adequate financial and technological support to developing countries, he said.

He also stressed China, as a country of 1.3 billion people with per capita GDP ranking about 100th in the world, faces the serious task of growing the economy and improving people's livelihood.

"At a stage of accelerated industrialization and urbanization, China's energy demand will see further reasonable growth. Therefore, we face significant constraints in controlling greenhouse gas emissions," he said.

Figueres expressed appreciation for China's efforts in hosting the meeting.

"We take it as a very symbolic gesture of China to support the inter-government process," she said.

China set an "impressive" target to reduce its carbon dioxide emission intensity by 40 to 45 percent by 2020 from 2005 levels and it has already introduced legislation to guarantee the pledge will be met, she said.

China joins other countries in agreeing to be flexible in order to reach compromises that are necessary for Cancun's success, she said.