SHANGHAI - China and the European Union have agreed to jointly pursue financed research focused on sharing and developing technologies for cleaner, less polluting and safer aircraft.

The research will initially involve three main projects with budgets totaling 70.5 million yuan ($10.5 million), to be shared by the European Commission and China's Ministry of Industry and Information Technology (MIIT).

The plan, announced on Thursday at the Shanghai Expo's aviation pavilion, reflects China's growing importance as an aircraft manufacturer and Europe's keenness to remain a leading player in the huge Chinese market.