China Global Philanthropy Institute, a joint initiative of five philanthropists including the Bill & Melinda Gates Foundation, was inaugurated Thursday at the Diaoyutai State Guesthouse in Beijing.

At the ceremony, Bill Gates, and four other philanthropists proposed a joint initiative of "Promoting Development of Public Education". And over 100 philanthropists, including the founder and executive chairman of Alibaba Group, pledged to jointly promote education developments.

The institute is the first of its kind in China that’s jointly established by philanthropists in China and the United States. It aims at providing a training ground in China for talent with an interest in philanthropy, offering supports for charitable resources, and serving as a new platform for reaching out to the globe. 

Jack Ma (C), founder and CEO of Alibaba Group