BEIJING -?Chinese authorities Thursday initiated a project that aims to elevate 42 of the country's higher education institutions to a world-class level.

Another 95 institutions have been designated to develop world-class courses, according to a circular jointly issued by the ministries of education and finance, as well as the National Development and Reform Commission.

Dubbed "Double World Class," the project includes Peking University, Renmin University of China, Tsinghua University, among others, it said.

The institutions were selected after a process of peer competition, expert review and government evaluation, according to the circular.

They will received dynamic monitoring and management, while the "Double World Class" title is not an interminable status, it said.

Prior to the project, the Chinese government evaluated its universities via the "211" and "985" projects launched in the 1990s. The 211 project aimed to raise education standards in about 100 colleges and universities during the 21st century, hence the number 211, and the 985 project, named after its launch date in May 1998, endeavored to select the cream of the crop from those institutions.

The new project is based on the previous two projects and committed to promoting regional coordinated development of higher education.