China has asked President Barack Obama to increase the U.S. offer to reduce carbon emissions, but its top climate envoy, Xie Zhenhua, suggested a willingness to compromise at a U.N. conference in Copenhagen. Xie stated that China aims to play a positive role in the climate talks, emphasizing the importance of an agreement between the United States and China, who together are responsible for 40 percent of global greenhouse gas emissions. Xie expressed hope that President Obama would make a significant contribution to the Copenhagen conference, suggesting that this contribution should go beyond Obama's existing proposal of a 3 percent reduction in emissions by 2020 compared to 1990 levels. Xie also mentioned that China could support a goal of halving global emissions by 2050 if developed nations increase their emissions reduction targets by 2020 and provide financial assistance to developing countries to combat climate change. The significance of a mid-term target is emphasized over a long-term target, as solving immediate problems is crucial. The deputy chairman of the National Development and Reform Commission (NDRC) believes that if the demands of developing countries are met, discussions can be held on halving global emissions by 2050, with a suggested target for rich countries to reduce emissions by 25-40 percent below 1990 levels by 2020. Earlier this year, during earlier rounds of U.N. talks, China had pushed for a reduction of "at least 40 percent." Xie stated that he would prefer a final, legally binding agreement at the Copenhagen meeting, but if that was not achievable, he believed setting a deadline to finalize a comprehensive treaty by June would be beneficial. He dismissed a U.N. suggestion for fast-track funding of $10 billion annually from 2010-2012 as insufficient.