It was launched by the Hangzhou Westlake Education Foundation, a nonprofit organization for higher education and advanced academic research.
The cave tombs are earth pits with well preserved human skeletons in various burial forms including extended and flexed burials. Some tombs with disordered bones may have been robbed.
Pam Meyers, a guest at the preview, said she was "overwhelmed when I first saw the Terracotta Warriors", calling them "something very different and very beautiful".
University trustees elected Shi, also president of the Westlake Institute for Advanced Study, as president together with vice-presidents Xu Tian and Qiu Min on Monday.