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The investment in Natural Food will advance PepsiCo's journey to become China's leading consumer-centric food and beverage company, the US company said.

The latest US tariffs on billion of Chinese goods followed the first round of additional tariffs on billion of Chinese imports, which took effect on July 6.

The investment arm of retail conglomerate Suning Holdings Group Ltd will become the biggest shareholder with a 17.42 percent stake, whereas car manufacturers Changan, Dongfeng Motor Co Ltd and China FAW Group Corp will each own 16.39 percent.

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The launch is a landmark for SpaceX to make a presence in the lucrative military space launch market. In April 2016, SpaceX was awarded the first National Security Space mission and it has four other GPS III missions on contract.

The law entrusts the commission with responsibilities such as international cooperation against corruption, strengthening efforts to hunt down fugitives, recovering stolen assets and preventing corruption suspects from fleeing abroad.

The investments will go to projects on big data, internet of things (IoT), cloud computing, smart cities and the digital Silk Road, according to an agreement signed by China Development Bank and the National Development and Reform Commission at the International Conference on Digital Economy and Digital Silk Road that opened Tuesday.

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The launching ceremony is an important event that marks the glorious history of friendly communications between the two countries, Xi said, adding that the China-Myanmar friendship is thousands of years old.

The joint venture was established in 2003. Last year, around 560,000 BMW brand vehicles were delivered to Chinese customers. Two-thirds of them were produced by BBA at its two plants in Tiexi and Dadong.

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The launch will be part of a series of events scheduled for May 18, the International Museum Day, in Nanjing, east China's Jiangsu Province, according to the administration at a press briefing.

The latest order was the fourth Nova Tour had placed with Yutong.