China Daily: China will draw up management measures for the new South-South fund soon, Xie Zhenhua, head of the Chinese delegation to the United Nations climate change conference in Lima, Peru, said on Tuesday.
Xie said the South-South fund will be operated with a "market-based approach" to help developing countries build capacities in coping with climate change.
The Chinese government recognizes the existence of climate change and the impact of human activity, Xie said.
Xie said China has organized...