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BEIJING, Sept. 16 (Xinhua) -- Chinese President Xi Jinping will pay a state visit to the United States from Sept. 22 to 25 at the invitation of U.S. President Barack Obama, a Foreign Ministry spokesperson announced on Wednesday morning.

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.

The president stressed that China-U.S. economic and trade cooperation is mutually beneficial in nature.

China and Singapore currently have two joint projects -- Suzhou Industrial Park in east China's Jiangsu province and Tianjin Ecocity in the northern China port city of Tianjin. Trade between the two countries has increased, Yang said, and negotiations for a third intergovernmental project in West China will be speeded up.

Liu stressed the Palace Museum, as a world-class museum, should further improve its management and services to better inherit and protect Chinese culture while taking on its social responsibility.