China announced on Nov 26 that it was going to reduce its carbon intensity by 40-45 percent by 2020 compared with the 2005 level. This announcement has been widely welcomed by the international community and shows that, above all, although current international treaties within the United Nations mechanism do not require developing countries to accept binding targets, China is willing to carve a new development path that can make its economic growth less carbon intensive. The new reduction target would be a binding indicator to be incorporated into China's medium- and long-term national social and economic development plans.

Appropriate handling of climate change is of vital importance to all countries. As one of the largest greenhouse gas emitters, China's ambitious voluntary action will make an important contribution to global efforts in tackling climate change.

In 2005, China's total CO2 emissions were estimated at 5,101 million tons of CO2 equivalent. The carbon intensity of the Chinese economy has been going down in the last two decades. According to the International Energy Agency (IEA), it had been reduced 55.6 percent from 5.47 kg CO2/$ to 2.43 kg CO2/$ (year 2000 US dollar) between 1990 and 2005. Although substantial progress has been made, there is still room for China to improve its carbon intensity. In 2005, carbon intensity of the US and Japan was 0.53 and 0.24 kg CO2/$ (year 2000 US dollar).