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The money will be used by Innovusion, a two-year startup based in Los Altos in Silicon Valley, to produce its radar system of laser-based guidance (LiDAR) called Cheetah, a sensor-powered technology that helps vehicles detect and see what is around them.

The move comes as companies are placing growing emphasis on domestically developing crucial software as a backup plan in case foreign products become unavailable.

The move makes no secret of the company's desire to gain a lead in China's large parcel express sector, which has experienced rapid growth in recent years on the back of the country's e-commerce boom.

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The museum is located near Lugou Bridge, also known as Marco Polo Bridge, in the southwestern suburbs of Beijing.

The nation's express delivery industry has continued to grow at a fast rate after it turned to positive growth beginning in February. The bureau said that the growth has been sustained at around 30 percent.

The narrowing valuation gap between China's stocks traded offshore and in Shanghai shows rising investor confidence in the future of the A-share market, observers said.

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The museum has a collection of more than 600 tomb frescoes dating from the Tang Dynasty (618-907), covering an area of more than 1,200 square meters. Since the 1950s, it has made great achievements in the protection and study of China's ancient frescoes.

The move toward preflight testing was first trialled in Turkey and Germany.

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The move, which was announced by the exchange overnight and takes effect Tuesday, is part of a broader quarantine ordered by Philippines President Rodrigo Duterte to curb the outbreak.

The nation's tourism industry, though suffering from the epidemic outbreak, has taken on a different landscape as more online resources are open to the public to meet people's desire for traveling while helping curb the expansion of novel coronavirus pneumonia.