Oct. 27 (Bloomberg) -- The Bill & Melinda Gates Foundation signed a memorandum of understanding with China’s Ministry of Science and Technology to start a $300 million project that will support research and development of products and technologies for health and agriculture, the China Daily reported.

For every dollar the Gates foundation provides to support a Chinese-developed product, the ministry will offer $2 of grant money, the newspaper reported, citing Vice Minister Zhang Laiwu.

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