The Beijing Hour
Morning Edition
Paul James with you on this Thursday, November 7, 2013.
Welcome to the Beijing Hour, coming to you live from the Chinese capital.
Coming up on our program this morning...
Anticipation is growing among observers ahead of this weekend's CPC meeting here in Beijing.
Authorities in Shanxi have confirmed a series of blasts which left one person dead yesterday are the result of home-made bombs.
A new UN report released ahead of next week's climate conference in Poland is suggesting CO2 levels hit record highs last year.
In Business.... all eyes on New York this morning as the market waits to see what Twitter is going to price its IPO at.
In sports... Rafa is going to close out the year as the world's best men's tennis player.
In entertainment... Taiwan rockers Mayday are gearing up for their first European tour.
First, let's check on what's happening on the weather front...
Weather
Supertyphoon Haiyan set to hit the Philippines
One of the largest Typhoons of the year is set to hammer the Philippines.
Haiyan is currently classified as a Super Typhoon.
It's packing winds of 220-kilometers per hour, and is heading west into the central Philippines.
It's expected to make landfall within the next 24-hours.
Haiyan is forecast to then cross into the South China Sea on Saturday, where its still expected to pack winds of 175-kilometers per hour.
Beijing will be sunny today, with a high of 14 degree Celsius in the daytime, and it will be clear tonight with a low of 3.
In Shanghai, it will be cloudy today, 22 the high, and it will be cloudy tonight, the low of 15 degrees Celsius.
Lhasa will be cloudy in the daytime the temperature's at 16, and tonight will be cloudy with a low of minus 2 degree Celsius.
Elsewhere in the world, staying in Asia
Islamabad, sunny, 23.
Kabul, sunny, with a high of 11.
And in North America
New York, overcast, with a high of 16 degrees.
Washington, overcast, highs of 19
Houston, thundershowers, 27.
Honolulu, moderate rain, 29.
Toronto, moderate rain, 13.
Finally, on to South America,
Buenos Aires, sunny, 25.
And Rio de Janeiro will see moderate rain with highs of 23 degrees Celsius.
Top News
Key party session to discuss reform policies of world's second largest economy
Anchor
The forthcoming CPC plenary session this weekend in Beijing is expected to include discussions on a series of economic reform plans, particularly when it comes to the central authorities' macro economic policies.
CRI's Cao Yuwei explains.
Reporter
The Chinese economy has on average been increasing by nearly 10-percent yearly since its reform and opening up nearly 35 years ago.
President Xi Jinping has been urging for consistent reform and opening up, saying "the gate should never be closed."
For a macro perspective on this weekend's plenum, Klaus Rohland, the World Bank's Country Director for China spoke about his expectations on the direction of economic reform.
"We believe the shift from a strategy that focuses on the quantity of growth, the percentage of growth rates, to quality of growth, to make sure that growth benefits all the people of China alike. As you change the maybe winners and losers, people who benefit from the change and people who have to give up something, and to get this balance right between two or three groups will be crucial for the reform to succeed. "
Meanwhile, Yin Xingmin is the deputy director of the Center for Economic Research China, a think tank for China's State Council. He says the monopolized position of some key industries and over regulation from the government has restricted economic development.
He adds these problems are leading to unfairness in market competition.
"Some sectors, based on state-owned enterprises, they got well and special preference from the government agencies. It is unfair for private sectors in some industries fields, such as infrastructure sectors and financial sectors."
Yin points out the market is not playing an effective role in locating resources through basic mechanisms, since private capitals are highly restricted in some sectors including financing, banking and security.
He says more could be done to encourage fair competition and further open up the market.
"The first one is how to reduce the scope of monopoly in economic fields, and the second one, to speed up the opening up policies for overseas enterprises, and also the third one to open the market for small and medium-sized enterprises to enter into the business sectors."
Experts expect the economic reform could also cover areas such as income distribution, taxation, welfare system, and land reform.
The roadmap of China's reform is usually laid out by the central committee during third plenary sessions, which happens every five years.
This year's plenum will be held in Beijing starting this Saturday.
For CRI, this is Cao Yuwei.
US observers expect ambitious reform measures at key party session
Anchor
A number of US observers say they are expecting a bold roadmap to be unveiled at this weekend's party meeting here in Beijing.
CRI's Washington correspondent Xiaohong has more.
Ann
Jonathan Pollack, director of the Brookings Institute's China Center, says all eyes will be on China as the 3rd Plenary Session of the 18th CPC Central Committe begins to convene over the weekend.
He says many observers expect the meeting will outline the new administration's economic reform plans.
"We see, for example, the opening of Shanghai Free Trade Zone, which pilot for free trade zone, which in theory means that doors will open more to the inside of China. At the same time, so much what we've heard from the leadership, including their discussions with the United States, presumes a process that will be more welcoming to foreign investment."
David Dollar, formerly the U.S. Treasury's top official in China, is describing the anticipatd economic reforms as a "China re-balancing strategy."
He's calling on the central authorities to focus on Hukou and land reform to try to help bolster both consumption and productivity.
"So, as people move to cities, their income rises, their consumption rises. So Hukou reform can really help with both supply side and demand side of the challenges that China faces."
David Dollar says he believes easing mobility restrictions, along with other financial and fiscal reforms, should allow China to maintain growth of 7 to 8-percent over the next 5-years.
But at the same time, William Jones, senior editor of the Executive Intelligence Review, is cautioning the authorities not to be overly agressive in its reform plans for the financial sector.
"If it's opened up too much, you're gonna have a lot of hot money coming into China, driving up inflation, and the government thereby by introducing these reforms relinquishes a large degree of its control over what happens. And that can really spins out of control. So I think reform is necessary. Everybody is in the agreement with that. But if the pace is too quickly, I think it represents a very great danger for China."
Traditionally the third Plenary Session of the CPC Central Committe normally sets the political and economic course the central authorities have for their term in office.
Most observers in the US say that while policy directions in China are important, it's the implementation which is key.
Xiaohong, CRI, Washington.
N China explosions caused by self-made bombs
Police in Shanxi have confirmed the explosions outside the provincial office of the Communist Party of China yesterday morning were the result of home-made bombs.
A series of coordinated explosions hit outside the CPC's provincial office in the capital Taiyuan at 7:40am yesterday morning, leaving one person dead and 8 others injured.
One of those hurt is in critical condition.
Police have recovered steel beads and circuit boards at the scene.
So far authorities have not offered any possible motive for the attack.
Colombia, FARC agree on rebels' future
Colombia's government and the FARC rebel group have reached a "fundamental agreement" on FARC's future in politics.
This has been one of the thorniest issues being dealt with in the peace talks in Cuba.
The partial accord may pave the way for FARC to enter Colombian politics.
Chief government negotiator Humberto de la Calle.
"The end of the conflict would bring about more participation. That participation should be focused on the construction and the consolidation of peace. This is the essence of what we have announced today."
FARC lead negotiator Ivan Marquez is suggesting his organization may become a registered political entity in Columbian politics.
"We reiterate now and we will continue to do so that this is not a process of submission, but, with certainty we continue to effectively advance along the path of transformations that the majority has demanded."
FARC rebels have been engaged in a half-century long conflict with the government of Columbia.
The organization began peace talks with the Columbian government earlier this year.
German government officials discuss alleged British spying activities
German officials have been holding closed-door meetings to discuss the latest allegations of British spying activities in Berlin.
A report in the London-based Independent newspaper is suggesting the UK government may be operating a spy station on top of the roof of its embassy in Berlin.
German Foreign Ministry spokesperson Hans Schaefer.
"We'll continue our friendly and close relationship, as it is common practice among partners. But it was also a very serious conversation about issues that are close to the federal government's heart and there are allegations on the table, which we wish to be clarified."
Meanwhile, a member of the German opposition has met with former NSA analyst Edward Snowden in Russia amid the allegations the US National Security Agency has listened-in on Chancellor Angela Merkel's cellphone.
German government officials have been discussing ways in which they can also meet with Snowden to gather more information about the allegations.
Information leaked by Snowden has led to revelations of a vast network of supposed allies of the United States spying on one-another.
China calls for enhanced cooperation in global cybersecurity
Anchor:
A leading Chinese official has addressed a cyber-security conference in San Francisco, suggesting the Chinese government is creating a favorable environment for the development of the internet in this country.
CRI's Yu Yang has more.
Reporter
More than 350 cyber security leaders from over 40 countries gather at the World Cyberspace Cooperation Summit, a global security nonprofit organization.
Cai Mingzhao, Director of China's State Council Information Office, made a keynote speech at the summit.
Cai says China is facing severe cybersecutiry challenges like other countries.
"From January to August, more than 20-thousand Chinese websites were tampered with by hackers and more than eight million computer hosts were controlled by Trojans or botnets, a 14 percent increase from 2012. It has caused severe damage to China's economic development and people's normal life."
Cai Mingliang also highlights positive results in Sino-US cooperation in cyber security.
"China and the United States have set up a cyber security working group within the framework of the strategic security dialogue. The two countries should make full use of the mechanism to carry out in-depth dialogue and consultation, clear up doubts, control differences and expand cooperation."
The official calls for wider cooperation in tackling cyber security issues.
He also notes that all countries should respect national sovereignty over cyberspace, strengthen legal construction and enhance global cooperation so as to maintain cyber security.
For CRI, I'm Yu Yang.
EU to press for "ambitious" emissions cut at Warsaw climate talks
Officials with the European Union say they're going to be seeking more ambitious targets on greenhouse gas emissions cuts at next week's climate conference in Warsaw, Poland.
The EU's climate action commissioner is also calling on other countries set to take part in the event to bring strong pledges to reduce greenhouse gas emissions.
But at the same time, Connie Hedegaard is cautioning the Warsaw meeting will not result in a definitive climate action plan post-2015.
The forthcoming session in Warsaw is being viewed as a critical meeting to address the next steps toward replacing the Kyoto Protocol, which expires in 2015.
Ahead of the session, the Chinese government has been calling on the developed world to live up to its previous financial commitments to helping reduce greenhouse gas emissions.
The Warsaw meeting will run from November 11th to the 22nd.
Level of greenhouse gases in the atmosphere reached record levels in 2012
A new report from the UN is suggesting global carbon dioxide levels hit a record high last year.
The latest analysis shows CO2 levels increased by a global average of 2.2-parts per million in the atmosphere last year, putting the average PPM at 393.1.
This is far beyond the 350-parts per million that scientists and environmental groups have been suggesting is the absolute upper limit for a safe level.
Michel Jarraud is the secretary general of the World Meteorological Organization.
"CO2 is a very stable gas so it means that there is no sort of chemical reaction which would destroy naturally the CO2 from the atmosphere, so it stays for very long periods, hundreds of years or even more and that's why as a consequence the actions we take now or the actions we don't take now will have consequences for very, very long period."
While the earth naturally recycles CO2 through plant-life, increasing emmissions created by humans are outstripping nature's capasity to clean itself.
Palestinians blame Arafat's death on Israel
Palestinian authorities are now pinning the blame for former leader Yasser Arafat's death on Israel.
The accusation follows the delivery of a report on the late-leaders death to Palestinian authorities, who say scientists have confirmed lethal levels of Polonium from samples taken from Arafat's remains.
Palestinian Liberation Organization spokesperson Wasel abu Yousef says Israel had an interest in seeing Arafat dead.
"I think that this issue necessitates the formation of an international inquiry committee to investigate this, and to find who committed this crime against the martyr Yasser Arafat, because the one with the interest to kill him is the occupation."
Arafat headed the PLO from 1969 until his death in 2004.
In Hamas-controlled Gaza, Hamas is calling on the Palestinian Authority in the West Bank to cancel peace negotiations with Israel in light of the findings.
The Israeli government has denied any role in Arafat's death, suggesting instead the 75-year old lived an unhealthy lifestyle.
Chinese abacus nominated for World Intangible Cultural Heritage
Anchor
The Chinese tradition of making tabulations via an abacus, known as Zhusuan here in China, is up for consideration to be listed as World Intangible Cultural Heritage.
CRI's Alexander Aucott has more.
Reporter
The nomination was made by the United Nations Education Science and Culture Organization, or UNSECO.
The final result will be announced early December.
With a history of more than 18-hundred years, the abacus is considered the world's most ancient computer.
Experts are calling for preserving the time honored invention which has been slowly fading away from people's lives.
Su Jinxiu is the deputy director of Chinese Abacus and Mental Arithmetic Association.
"The abacus can perform addition, subtraction, division and multiplication, and can also make powers, extract roots and solve Gauss equations. But there are only a few people learning it now."
Su adds the abacus has been a major calculating device for centuries.
The abacus even helped Chinese scientists to make calculations in the 1960s when China developed its first nuclear bomb.
In the 1990s, abacus lessons were made compulsory in primary schools, but later became a selective subject.
Experts say by figuring out results with an abacus in mind, children can improve their intelligence.
Wang Chaocai is consultant of the association.
"Those children are amazing. They can do additions on many numbers in one second."
Abacus calculation was listed as a Chinese national intangible cultural heritage in 2008.
It is now considered as an auspicious symbol of wisdom and wealth in China.
For CRI, I'm Alexander Aucott.
Biz Reports
Anchor
First off, a check on the stock market of North America and Europe.
Join me on the desk, CRI's Ding Lulu.
Reporter
U.S. stocks ended mixed Wednesday as investors look to a pair of important data due out later this week.
The Dow closed at a record high, led by gains in Microsoft and encouraging European economic data.
The S&P 500 gained 0.4 percent while the Nasdaq lost 0.2 percent.
The stock market has been bolstered recently by a solid third-quarter earnings season.
So far, 68 percent of the 423 companies in the S&P 500 that have reported earnings have beat expectations, above the long-term average of 63 percent.
Meanwhile, Canada's S&P/TSX added 0.1 percent.
Over in Europe, European shares hit five-year highs on Wednesday, after a batch of better-than-expected corporate results lifted sentiment.
Results from Dutch banking and insurance group ING and Adecco beat forecasts, sending their shares up 3.3 percent and 4.3 percent.
The reports brightened a so-far dull earnings season, which has seen 49 percent of companies in the STOXX Europe 600 index miss consensus expectations, a greater proportion than in recent quarters.
Investors also digested a raft of fresh economic data, including on German manufacturing orders and euro-zone retail sales.
Markit's composite purchasing managers' index fell to 51.9 in October from 52.2 in September, but still above the 50-point mark that separates growth from contraction.
Retail sales in the 17-nation bloc fell 0.6 percent in September from August.
Meanwhile, British manufacturing output grew more strongly than expected by 1.2 percent month on month in September, bouncing back from a fall in the previous month.
When the market closed, Germany's DAX gained 0.4 percent.
France's CAC 40 advanced 0.8 percent.
Britain's FTSE 100, however, trimmed 0.1 percent.
Twitter likely to price above expected $25 range
Sources are suggesting Twitter is likely to price its initial public offering in New York above its already bumped-up target range.
Reuters is quoting sources suggesting the initial price may be as high as 28 dollars per share.
Twitter already increased its target IPO range on Monday to between 23 to 25 dollars a share from an initial range of 17 to 20 dollars.
The higher-end valuation could mean the company may be able to raise upward of 2-billion US dollars.
Twitter is expected to make its official valuation sometime this morning.
The company is due to begin trading on the New York Stock Exchange on Thursday.
Chinese shares drop as PBOC signals deleveraging
The Chinese central bank is signaling it expects to see inflation rise this quarter.
At the same time, the PBOC's latest monetary policy report is suggesting the central bank plans to ease up on its economic stimulus.
The People's Bank of China's latest monetary policy implementation report also suggests this country's economy may go through a long process of reducing leverage and production capacity.
Stocks in the banking sector dropped on Wednesday on the heels of this report.
Call-in Prudent monetary stance to be kept
Anchor
The central bank here in China has decided to keep its prudent monetary stance intact while it continues to try to adjust this country's economic structure.
The PBOC says it will use open market operations, reserve requirement ratio adjustments and short term liquidity injections to adjust interbank liquidity.
The central bank also says is also calling for Chinese banks to improve their liquidity and risk management.
For more on this, we're joined live now by Cao Can, CRI's Financial Commentator.
Questions
--Is it a bit surprise the decision comes to you as the report came just after the market experience a cash crunch very recently?
--As expectations are running high over how far or soon will the reform go especially in the financial sector, what will be the role the central bank is going to play in a gradually becoming freer and more competitive market?
Would it likely to gather more of a say in policy and market maneuvering or somehow loosening its stringent gatekeeper role?
--Do you think the central bank so far has kept a vigilant eye on the hot money inflow and maintained a good balance between money supply and demand this year?
Back Anchor:
Cao Can, CRI's Financial Commentator.
"Zero tolerance" for financial reform risks at FTZ: Shanghai Party chief
Shanghai's party chief says they are not going to allow any systematic or regional risks to develop in the new Free Trade Zone.
Han Zheng says all the plans they're developing for the FTZ are going to be in-line with the country's current level of economic development.
He also says the Shanghai FTZ will test the full convertibility of the Renminbi.
The comments come as observers await a report from the PBOC as to how it plans to support the new Free Trade Zone.
China's banking, securities and insurance regulators have already outlined their strategies for the FTZ.
China's Suntech to Stop Making Solar Panels
Suntech Power has revealed it plans to emerge from bankruptcy as a distributor, rather than a producer, of solar panels.
The plan has been laid out in one of the company's court filings.
It shows Suntech plans to move away from manufacturing, and instead, become a seller and distributor of solar equipment.
Suntech, once was the world's largest producer of solar panels, defaulted on 541-million US dollars worth of bonds in March.
The company has blamed over-capasity in the Chinese solar panel sector, on top of trade fights with the EU and the US, for its financial woes.
Nonbank Upstarts Push Into Chinese Banking
Chinese internet firm Alibaba says its preparing to begin offering mutual fund options to its investment clients via its new Taobao banking program.
Alibaba is projecting its online banking division is going to sell over 16 billion dollars worth of its money-market-like investments and amass a loan portfolio of some 2 billion US dollars by the end of this year.
This comes as the competition for the online banking sector heats up.
Baidu has followed on the heels of Alibaba this past month, setting up its own investment and banking options.
Tencent is also teaming up with a consortium to apply for an online banking license.
Big-box appliance retailer Suning and property developer Macrolink have also flagged their interest in setting up online banks.
BP and Shell among oil firms named in price-fixing lawsuit
BP, Shell, and Statoil are among group of companies being accused of manipulating the Brent oil market.
Four commodities traders have filed a class action suit in Manhattan alleging that a number of major oil companies and trading houses have been fixing brent crude prices since at least 2002.
Morgan Stanley is also among those named in the suit.
The four traders from the Nymex commodities exchange in New York claim one method used to manipulate prices is so-called "spoofing."
This is when traders place orders, which generally raises the price of a commodity, only to withdraw the order later.
The North Sea Brent oil benchmark is used to price around two-thirds of the world's crude.
It's mostly used as a benchmark to determine the cost of heating oil.
AIG settles with former executive before $274 million pay trial
American International Group has agreed to settle a 274-million dollars lawsuit by a former executive who claims the insurer refused to pay him during the financial crisis in 2008.
The settlement comes ahead of the start of the trial, which was to begin in New York this coming Tuesday.
Observers had been expecting the trial would re-open the delicate issue of executive compensation.
It has not been revealed how much Kevin Fitzpatrick has settled for.
AIG was one of the companies the US government had to bailout during the height of the banking crisis.
It was later found AIG and many other big banks paid out millions of dollars in annual bonuses to their executives amid the bailout.
Those revelations became the catalyst for the Occupy Wall Street movement which gripped New York and other parts of the US for months.
Headline News
China watchful over detained fishing boat
The Chinese Foreign Ministry has initiated an emergency response plan in connection with the detention of a Chinese fishing boat in Japan.
The Chinese consulate general in Fukuoka has sent staff to the scene and has visited the crew.
The consulate is calling on Japanese authorities to maintain the security and legal rights of the Chinese sailors.
A Chinese fishing boat with 12 crew members aboard was detained on Tuesday on suspicion of operating illegally in Japan's exclusive economic zone.
N China explosions caused by self-made bombs
Police in Shanxi have confirmed the explosions outside the provincial office of the Communist Party of China yesterday morning were the result of home-made bombs.
A series of coordinated explosions hit outside the CPC's provincial office in the capital Taiyuan at 7:40am yesterday morning, leaving one person dead and 8 others injured.
One of those hurt is in critical condition.
Police have recovered steel beads and circuit boards at the scene.
So far authorities have not offered any possible motive for the attack.
Supertyphoon Taiyan set to hit the Philippines
One of the largest Typhoons of the year is set to hammer the Philippines.
Taiyan is currently classified as a Super Typhoon.
It's packing winds of 220-kilometers per hour, and is heading west into the central Philippines.
It's expected to make landfall within the next 24-hours.
Taiyan is forecast to then cross into the South China Sea on Saturday, where its still expected to pack winds of 175-kilometers per hour.
EU to press for "ambitious" emissions cut at Warsaw climate talks
Officials with the European Union say they're going to be seeking more ambitious targets on greenhouse gas emissions cuts at next week's climate conference in Warsaw, Poland.
The EU's climate action commissioner is also calling on other countries set to take part in the event to bring strong pledges to reduce greenhouse gas emmissions.
But at the same time, Connie Hedegaard is cautioning the Warsaw meeting will not result in a definative climate action plan post-2015.
Palestinians blame Arafat's death on Israel
Palestinian authorities are now pinning the blame for former leader Yasser Arafat's death on Israel.
The accusation follows the delivery of a report on the late-leaders death to Palestinian authorities, who say scientists have confirmed lethal levels of Polonium from samples taken from Arafat's remains.
A Palestinian Liberation Organization spokesperson says Israel had an interest in seeing Arafat dead.
The Israeli government has denied any role in Arafat's death, suggesting instead the 75-year old lived an unhealthy lifestyle.
"Zero tolerance" for financial reform risks at FTZ: Shanghai Party chief
Shanghai's party chief says they are not going to allow any systematic or regional risks to develop in the new Free Trade Zone.
Han Zheng says all the plans they're developing for the FTZ are going to be in-line with the country's current level of economic development.
He also says the Shanghai FTZ will test the full convertibility of the Renminbi.
Newspaper Picks
BEIJING NEWS
Headline
Over 1.5 Million to take Civil Servant Exam
Summary
The registration for the forthcoming National Civil Servant Exam has been confirmed.
1.52 million people will take the exam, which is 344 times that of 20 years ago.
The written test will be held on November 23th.
SOUTH CHINA METROPOLITAN DAILY
Headline
Airlines free to set ticket prices
Summary
The Chinese government is removing the lower limit on prices of air tickets to encourage more domestic airlines to set up budget carriers.
Under the outgoing rules, prices of air tickets couldn't be cheaper than 45 percent of the average price on the same route.
Authorities also say they're working on more preferential policies to help budget airlines get going.
BEIJING BUSINESS TODAY
Headline
Online insurance launched
Summary
This country's first online insurance firm is coming out with new products targeting e-commerce shoppers.
The products designed by the ZhongAn Online Property Insurance Company will address issues related to e-commerce, mobile payments and Internet finance.
The new products will insure shoppers against fake goods sold online and losses that occur during transportation.
BEIJING TIMES
Headline
Culture industry expo opens
Summary
The 8th China Beijing International Culture & Creative Industry Expo has opened in Beijing.
The expo will last 5 days, and includes more than 100 different activities.
More than 30 international delegations are represented at the expo.
GLOBAL TIMES
Headline
Wall collapse kills 3
Summary
Three students have been killed and six others injured after a wall collapsed near a school in Sichuan.
The injured students are said to in stable and non-life-threatening condition in hospital in the city of Luzhou.
Its unclear what caused the wall to come down.
SHANGHAI DAILY
Headline
Watchdog to look into Nongfu's complaint
Summary
China's press watchdog has confirmed its probing an alleged smear campaign by the Beijing Times newspaper against Nongfu Spring, a major bottled drinking water company.
The company is currently suing the newspaper for allegedly staining its business reputation with fabricated reports.
Nongfu is demanding 60 million yuan in compensation from the Beijing Times.
CHINA DAILY
Headline
China's east attracts foreigners
Summary
A new regional survey has been released when it comes to attracting foreign talent.
According to the survey, the top 10 cities coveted by expats are in eastern China.
Shanghai tops the list.
The city is being cited as having the best working and living environment, an expatriate-friendly policy, and administrative capacity.
Special Reports
Chinese sports circle debates how to manage young super stars
ANCHOR
Amid the legal troubles for Chinese Olympian Sun Yang, debate has been heating up here in China as to how star athletes are treated in this country.
CRI's Xie Zhao has more.
REPORTER
Sun Yang has been sentenced to a week in detention and fined 2-thousand yuan, or some 3-hundred US dollars, for driving without a license in Hangzhou, Zhejiang Province last week.
Zhang Yadong, vice president with Zhengjiang College of Sports where Sun Yang studies, says the police assumed Sun Yang had a driver's license because he is the brand ambassador for a South Korean car company.
"He made a car advertisement on TV. So the traffic policeman believed he had a license. After looking into the system, the policeman discovered Sun does not have a license at all."
The issue has triggered a heated debate as to how to manage star athletes.
On top of the driving accident, Sun has also been suspended from all commercial activities for breaching a "series of team rules" in February.
Wu Han, vice editor-in-Chief with TiTan Sports, says the star athletes' great achievements can often mask the loopholes of sports management system.
"Some problems occur when the traditional professional management model contradicts the current sports professionalism trend. In the past, the athletes' achievements were considered as a simple evaluation standard in the traditional management model. When the athletes have good achievements, they can make a compromise with the management model."
Yang Ming, a sports reporter at Xinhua News Agency says Sun Yang needs a management team just as China's famous athlete Liu Xiang has one, to support him.
"Sun Yang can be compared with Liu Xiang as both swimming and track and field are big athletics games. Liu can garner support from a management team authorized by the Chinese Athletic Association. Though they are not as professional as world-class teams, it still works for Liu Xiang."
Wu Han adds China's tennis Ace Li Na also has her own management team.
"Li Na, she should self-discipline as an international professional player on one hand. On the other, she has her own team to manage her. At the beginning of this year, Li got involved in a verbal dispute with a reporter when the French Open was underway. Afterwards, the dispute had been well dealt with through her team, her coach and herself. "
But Wu Han also adds different management models should be adopted when it comes to managing different star athletes.
For CRI, I am Xie Zhao.
Sports
Nadal ends the year as world number one after beating Stanislas Wawrinka
In tennis,
Rafael Nadal sealed his world number one ranking after defeating Stanislas Wawrinka to advance to the semifinals at the ATP World Tour Finals in London.
It was a rewarding victory after a grueling two and a half battle versus his Swiss opponent.
Nadal entered the match the clear favorite after winning all eleven of their previous encounters without dropping a single set.
But Wawrinka wasn't about to curl up and die. Rather, the Swiss produced one of his best games of the year.
Rafa took early leads in both sets, only to watch Wawrinka rally and pull even. But Nadal managed to outperform in the final sets, winning a tight 7-6, 7-6.
"It was a double important victory, because that makes me qualify for the semi-finals and at the same time I clinch the year number one. It's something that I said the whole year, it's something that doesn't worry me much, but at the end, it's much better to be nmber one than number two, so very happy it's a very important win and I'm happy with the way I finished the match."
Also earlier, Novak Djokovic defeated six-time winner Roger Federer 6-4, 6-7, 6-2 to move to the top of Group B's standings alongside Juan Martin del Potro.
Tottenham Hotspur's Villas-Boas stands by decision to play goalkeeper Hugo Lloris
In football,
Tottenham Hotspur manager Andre Villas-Boas is frustrated with the people who criticized his decision to allow goalkeeper Hugo Lloris to continue playing after sustaining a head injury last week.
Lloris was briefly knocked out after colliding with the knee of Everton striker Romelu Lukaku.
Villas-Boas said Lloris has been cleared to play, and the club's medical staff shouldn't be questioned.
"What is extremely disappointing is the fact that two persons - a great doctor and a great physio were heavily put into question by lots of incompetent people, with absolutely no experience on the pitch, no experience in the action, no experience in the moment. That is extremely, extremely serious."
Later today, Tottenham will host Moldova's Sheriff Tiraspol at home in their Europa League fixture.
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And just seven months ahead of the FIFA World Cup, a major football conference SoccerEx was called off in Rio for what organizers are calling "ongoing civil unrest".
The Brazilian government denied that the cancellation had anything to do with civil unrest, saying instead that it was called off for financial reasons.
FIFA marketing director Thierry Wiel said the cancellation will not affect World Cup plans.
We have been surprised, as most probably all of us, and definitely the people who organise Soccerex have definitely been surprised on this change of plans, to be honest. But I would not compare Soccerex to the FIFA World Cup, to be honest, and we do not believe that this will have any influence in any way or form in regards to the organisation of the FIFA World Cup."
Golfers look ahead to European Tour's first Turkish Open
In golf,
The opening round of the Turkish Open, the European Tour's first official event in that country, will get underway later today.
The Tour's top golfers will be and it's going to be a battle to see who rises to the top of the European points standings.
Henrik Stenson is at the top of the Tour's Race to Dubai money list, and he is determined to stay there after making a bet with Ian Poulter that he was uncatchable.
He (Ian Poulter) said we have to have a bet that I am going to chase you down. And I said "yeah, I will try and keep you behind" And you know, he was quite some way behind so he got 10-to-1 on 100 bucks on me serving him the drinks on a night out. So I had better make sure that he stays behind, right?"
Reporter: "Are you putting some money aside now, because he is catching you up?"
"No, I am not putting any money aside. He is not going to catch me."
Justin Rose may pose more of a threat to Stenson, as the English golfer has studied the course and formulated his game plan.
I think it is a very strategic golf course, actually. There are three par-fives on the back nine and they all suit a mid- to long-hitter. So I feel like I am in that category, so hopefully that will create an advantage for me. The rough is thick enough you know, you need to hit the ball well, tee-to-green so hopefully that will suit me well."
Meanwhile, Tiger Woods is still thinking about his epic photo shoot on the Bosporus bridge yesterday. He said it wasn't as easy as it looked.
"You know, it was nerve-racking because the wind was off to the left and oncoming traffic was on my right. So, if I happen to, if I lost it to the right at all, I'm hitting some car. So I was trying to hit some draws up against the wind and trying to run it down there. I hit some pretty good ones down there which was nice. But if I did miss, I missed it left to make sure I didn't hit anybody in the cars."
NBA game preview
This morning in the NBA, four games tip off at 8 am.
The Washington Wizards will play the 76ers at Philadelphia. The LA Clippers are in Orlando.
Chicago is looking to hand the Pacers their first loss today.
And the Toronto Raptors are looking to break their five-game losing streak when they take on the Bobcats at Charlotte.
F1 chief Bernie Ecclestone in court for alleged corruption
In Formula One news,
F1 chief Bernie Ecclestone appeared in High Court in London yesterday to defend himself against alleged sale corruption.
Ecclestone denies paying a bribe to ensure he stayed in control of the motorsport series.
Rather he said that a banker had blackmailed him, and Ecclestone was forced to pay the guy off to avoid being reported to the authorities over his tax affairs.
The 83-year old maintained that the payments had nothing to do with maintaining control of the F1 series, insisting that he doesn't want to die as CEO of Formula One.
More punishment for Sun Yang
China's swimming star Sun Yang's punishment for driving without a license was taken a step further by the Chinese Swimming Administrative Center yesterday, after it suspended him from all competitions and training.
The Olympic champion cannot compete in any domestic or international competitions, and has been suspended from training with the national swimming team.
He's also suspended from all social and commercial activities involved with the team.
Entertainment
Rock band Mayday on their first European Tour
(Mayday)
Rock sensation Mayday are all geared up for their first ever European Tour.
The five-piece will be sweeping over 40 cities with 71 shows over a course of two years - a grand scale that even dwards Madonna's MDNA tour.
Bassist Masa says that this time round, audiences can expect plenty of bang for their buck.
"Last time the concert was more simple, just like a normal stage, and we were five guys on a stage playing our instruments. But this time there are many different things like LED big screen, and there are some visions on the stage and lighting will also be very different from the last time, so we are really excited to present this concert to European friends."
The band are working currently hard at work to taylor their music to a western audeince, starting off with breaking down the language barrier.
Guitarist Stone explains.
"We will try our best so that's why we translate all our Chinese lyrics into English right now in YouTube or other media. Also we tried to write some songs that using not Chinese words - something like we have song called 'O A O A' and it's 'O' and 'A' the letters, so people can easily come to our shows and sing with us because the verse is, the chorus sings 'O A O A,' and it's very easy. So we hope some English people, or some people that don't know Chinese, they can sing with us. Also we've got another song called 'Jump,' just jumping with us."
Although touring will soon be taking centre stage, the band says that they are not letting their creativity take a backseat.
Vocalist Ashin reportedly composes many songs and plenty of lyrics on planes whilst jetting across the world.
Mayday's European tour will kick off in London on 21 February next year, before moving on to Paris and then Amsterdam.
Wanda Group acquires Picasso painting for $28 million
Chinese real estate firm Wanda Group has just acquired a Picasso painting for over $28 million.
The purchase was made at a Christie's auction in New York and makes Wanda the first ever Chinese enterprise to scoop up a Picasso in the West.
The painting is a portrait of the master's daughter and son entitled "Claude et Paloma" and was completed in 1950.
The work was reportedly one of Picasso's favourites, having hung in his studio until his death.
This will bolster Wanda's art collection, which already includes works by Chinese painters Shi Qi, Li Keran and Wu Guangzhong.
Thor: The Dark World hits cinemas this Thursday
(Thor)
Arriving fresh at the cinemas tomorrow is the second instalment to the Thor franchise.
Chris Hemsworth returns as the Marvel superhero and Natalie Portman joins him as Jane Foster.
Tom Hiddleston, Anthony Hopkins and Stellan Skarsgard round up the glittering cast.
This time round, Thor is pushed to make his most dangerous journey in order to defeat an enemy who cannot be conquered by Odin and Asgard.
Our hero finds himself having to make sacrifices in order to save the day and be reunited with Jane Foster.
After Kenneth Branagh left the project, "Sopranos" director Alan Taylor took over the reigns.
Critics have warmed to the film having been charmed by Hemsworth's charisma as the titular lead.
Audiences seem to agree, propelling it to top the box office in 33 countries upon its opening weekend.
Thor: The Dark World opens in Chinese theatres tomorrow.
Carina Lau premieres Bends in Hong Kong
Superstar Carina Lau has just premiered her new film Bends in Hong Kong.
She plays the wife of a wealthy businessman who's world falls apart when her husband disappears leaving her with nothing.
Finding herself isolated and shamed, Lau's character has to face the pitfalls of being imprisoned by her own social class
Lau describes the plight of her pampered but distressed character
"The hardest part about filming this movie was that she couldn't express her pain and she ran out of tears. I think when you're in so much pain, you have no tears. She can't talk about it with her daughter, who's studying abroad, she can't talk to her maid, and she certainly can't talk to the driver who she sees every day because of the difference in their status. She took on all these emotions on her own. I think that's very difficult to portray, but I'm thankful to the director who gave me a lot of freedom and space to deliver."
Lau's character finds herself gravitating to her driver, played by Chinese actor Chen Kun, as the two of them find themselves supporting each other.
Despite the love story element, Lau says that the film shows that a woman cannot leave everything down to her man.
"Bends" will be released in Hong Kong on November 21st.
That's all we have time for on the show as well.
Recapping our top headlines....
Anticipation is growing among observers ahead of this weekend's CPC meeting here in Beijing.
Authorities in Shanxi have confirmed a series of blasts which left one person dead yesterday are the result of home-made bombs.
A new UN report released ahead of next week's climate conference in Poland is suggesting CO2 levels hit record highs last year.
In Business.... all eyes on New York this morning as the market waits to see what Twitter is going to price its IPO at.
On behalf of the Beijing Hour staffers, this is Paul James in Beijing, hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together!
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