When Emma Peng, a 20-year-old Shanghai native studying at New York University, purchased a one-bedroom apartment in Manhattan's 400 Fifth Ave.

WSJ: Romancing the Overseas Buyer��WSJ Mansion

He also started the Morningside Center of Mathematics in Beijing in 1995 and the Center of Mathematical Science in Zhejiang University in Hangzhou--100 miles southwest of Shanghai and one of China's oldest universities--in 2002.

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