The Second US-China Climate-Smart and Low Carbon Summit opens in Beijing, June 7, 2016. [Photo by Zhu Xingxin/chinadaily.com.cn]

China and the United States are capable of deepening cooperation to develop low carbon cities and green finance, a senior official with the nation's top economic regulator said on Tuesday.

Speaking at the opening ceremony of the Second China and United States Climate-Smart and Low Carbon Summit, Zhang Yong, deputy head of National Development and Reform Commission, said that the two countries have yet to tap the full potential of the enormous opportunities for further cooperation.

"China and the United States should expand cooperation on energy conservation and on sharing the experience of developing low-carbon cities," said Zhang, adding that the two countries could look for ways to better prepare for and to adapt to the consequences of climate change together.

Zhang added that China can learn a lot from the experience of the United States in green finance and in encouraging entrepreneurs to adopt low-carbon production strategies.

Zhang made the comment after top officials from the two countries approved the annual working plan on efforts to boost cooperation on climate change on Monday.

The low carbon cities summit is billed as an opportunity for officials to exchange practices between two cities.