BEIJING, March 22 (Xinhua) -- The Paulson Institute and Tsinghua University have jointly launched the 2019 Paulson Prize for Sustainability to explore and award a project with innovative solutions in sustainable growth, according to the institute Friday.

This year's Paulson Prize will be awarded to the project in China that represents innovative, scalable and market-based solutions with both economic and environmental benefits.

"The Chinese government has been prioritizing ecological restoration and pushing forward the coordinated economic growth and environmental protection," said Yu Jiang, chief representative with the Beijing office of the Paulson Institute.

"China is not alone in tackling the tasks of sustainable development. Moreover, China's experience and innovative solutions will be contributive to the world," said Zhuang Weimin, dean of the School of Architecture of Tsinghua University.

In 2019, the Paulson Prize will focus on projects in fields including urban environment, circular economy and natural capital, as well as other projects that contribute to the balance between economic development and environmental protection.