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The funding of the projects will be shared by the government and the society at large, including subsidies from the central government, financial support from local expenditure. And public investment will be encouraged in this regard, Huang added.

The four-bedroom Sutton Place property, on the New York borough's East Side, which boasts a grand marble entrance hall, was bought by Pei and his wife, Eileen, in 1974 from a cousin of United States president Franklin D. Roosevelt.

The gala raised .6 million for the foundation’s programs.

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The fund was officially inaugurated during the 5th Summit of China and Central and Eastern European Countries held in November 2016 in Riga, Latvia.

The four displays include traditional Chinese painting and ceramics, he said, and demonstrations are free of charge. "All these items look small, but take great effort to make," he said.

The government must also respect enterprises and entrepreneurs and let them be the final judge of the local business environment, Shen said at a press conference held in Beijing.

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The future trends will be on three levels. For the near-term though, the emphasis will be on more reliable and hygienic delivery.

The goal of the academy, unveiled last year by Alibaba chairman Jack Ma, is to address universal challenges faced by societies arising from the rapid development of digital technologies.

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The government will offer incentives for the building of platforms that serve the development of cross-border e-commerce and logistics services, the statement said. More work will be done to establish, improve and expand overseas warehouses, it added.

The fund's investment and financing may be denominated in the US dollar and Chinese yuan, it said.