Companies from China and Finland signed twelve deals on clean technology with a total contract value of around $250 million on Wednesday.

"The immediate value of all the contracts and agreements is about 200 million euros (about $245.76 million), and their potential exceeds 1.5 billion euros (about $1.84 billion)," Leif Fagernas, director general of the Confederation of Finnish Industries, said at the Cleantech Finland China Seminar in Beijing.

Visiting Finnish President Tarja Halonen and Chinese Vice Premier Li Keqiang attended the seminar, and pledged to promote clean tech cooperation between the two countries.

"As China is experiencing rapid industrialization and urbanization, we have to build a resource-saving and environmentally friendly society as soon as possible," Li said.

He added that the promotion of clean development would help transform China's pattern of economic development.

China will further improve its policies, laws and systems to give powerful support for clean and sustainable development, he said.

"Finland has advanced capability in clean tech innovation and application, so there's great potential for cooperation between the two countries in this regard.

"I hope our companies will grasp the opportunity, strengthen development and application of clean tech and carry out more reciprocal cooperation," Li said.

He said that China would continue to introduce advanced technology and expertise from overseas, and encourage foreign investment in clean technology and related products.

China will strengthen the protection of intellectual property rights to encourage the development and innovation of clean technology, he said.

Halonen said Finland attaches high importance to the Chinese market and wants to further enlarge bilateral cooperation in clean tech.

Finland has established a committee in China to manage environmental technology related programs, and 30 cooperation programs were already underway, she said.

A China-Finland technology innovation center will be established in Finland soon.

The seminar was also held to mark the 60th anniversary of the establishment of China-Finland relations. More than 200 business people, experts, scholars and governmental officials from the two countries attended the seminar.

Prior to the seminar, Li held a meeting with Halonen and discussed the development of bilateral relations.

(Xinhua News Agency May 27, 2010)