Shanghai and the United Nations signed a deal yesterday to jointly establish an international high-tech innovation base in Yangpu District to promote the city's "greening industry" and to boost convergence of industrial and information technologies.

Shanghai Municipal Commission of Economy and Information, the city's industrial and IT regulator, was awarded an honor certificate by the United Nations Industrial Development Organization for its contribution to the city's green industry and to developing information and communications technology.

"Shanghai has made outstanding achievements in developing high-tech applications in industries, especially in reforming traditional industries and adjusting industrial structure through high technologies," said UNIDO's Director General Kandeh Yumkella at a ceremony at the United Nations Pavilion at the Expo site.

"Shanghai's successful practice in transforming a traditional economy to an innovative economy has set a good model for cities in developing countries," Yumkella said.

The new Shanghai International High-Tech Innovation base will mobilize the support of international organizations, enterprises and funding from financial organizations. It will also help the city develop a green economy in e-commerce, advanced manufacturing and software and IT services, said the commission.

In 2009, Shanghai's e-commerce revenue reached 331.5 billion yuan (US$48.7 billion) and the business-to-business sector contributed 90 percent of the figure, according to Liu Jian, vice director of the commission.

The trading of global carbon emission totals US$60 billion annually, of which half is contributed by China. It will double to US$120 billion in 2012, according to Lin Jian, general manager of the Shanghai Environment and Energy Exchange.