The Ministry of Education, the Ministry of Finance and National Development and Reform Commission jointly released a "Double Top" plan on Thursday, with the aim of developing a batch of world-class higher education institutions and disciplines.

Peking University, Renmin University of China and Tsinghua University are among the 42 universities listed, and another 95 institutions have been designated to develop world-class courses.

The new plan replaces 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 its name, and the 985 project, named after its launch date in May 1998, endeavored to select the cream of the crop from those institutions.

The institutions for the new plan were selected after a process of peer competition, expert review and government evaluation.

According to the authorities, being world class is not a fixed status, thus the universities will receive dynamic monitoring and management.