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The Chinese side will also continue to send medical teams to work in Africa, and recruit 1,500 medical personnel in the next three years, the officials said.

I know that this agreement has drawn on the practices of existing multilateral development banks in many ways. It has also made some breakthroughs and explored new ways of operation. For example, in terms of governance structure, AIIB has, with reference to the common practice of multilateral development banks, set up a three-tiered structure, consisting of a board of governors, a board of directors and a management team. It has also put in place an oversight mechanism in line with the principle of transparency, openness, independence and accountability. It is specified in the agreement that the management team will be selected through an open, transparent and merit-based process. This is a new principle not included in the constitution of existing major multilateral development banks. Another example is that the AIIB places no restriction on the procurement of goods and services from any country, and again this is not the case in the other regional multilateral development banks.

"Over the past two years, President Xi and President Obama have spent many hours meeting in formal and informal settings, as well as communicating through phone calls and letters, because many global challenges today can only be met with China and the United States working in concert," Rice said.

Chen Qingjin's father left for Myanmar while Chen was still a babe-in-arms, and never returned. "My biggest wish is to kowtow in front of his remains," he said.

Much of the president's insight has been translated into effective policies, some of which we detail below.