The European Union has exceeded expectations by allocating €2.4bn a year over the next three years to assist developing nations in the fight against global warming, but a top Chinese negotiator says it's not good enough.

He Yafei, the Vice Minister of Foreign Affairs, has criticised the EU’s contribution to the "fast start" fund.

"It is not enough," he said, explaining that long rather than short term solutions were needed to combat global warming.

It was relatively easy for developed countries to come up with short term funds, He Yafei said.

"We need to commit to a target by 2050, but when it comes to funds countries are saying three years. I doubt the commitment of the developed countries. Why are they not committing to 2050?"

He Yafei said there was a big group of countries saying between 0.5 to 1 percent of GDP was needed from developed countries.