Welcome to the Beijing Hour, coming to you live from the Chinese Capital.

Coming up on our program this morning...

A second major batch of Chinese relief materials is on its way to Nepal amid calls by China's leadership to do more in areas of of its Tibet region rattled by last month's massive quake.

A meeting among political party officials from China and the US has been held here in Beijing.

Israeli Prime Minister Benjamin Netanyahu manages to cobble together a last-minute coalition government.

In Business.... new reports suggest Gansu's capital Lanzhou might be the next city to be home to a Free Trade Zone.

In Sports.... Spain's professional football league heading toward a suspension amid a dispute over TV rights.

In entertainment... popular Broadway show "Beauty and the Beast" is set to hit Macau.

Top NewsChinese president urges continued quake relief work in TibetChinese President Xi Jinping has issued a call for more to be done to help people affected by last month's earthquake in Tibet.

In making the call, he's put an emphasis on repairing damaged infrastructure.

He's also calling on local officials to ensure social stability, especially the quake-hit areas.

Premier Li Keqiang is also calling on local governmental departments to mobilize more resources to help those in need.

The earthquake in Nepal two Saturdays ago left 26 people dead in China's Tibet region.

It also leveled around 27-hundred homes.

Around 64-thousand people in Tibet are currently living in temporary shelters.

Soldiers continue efforts to reopen key relief route in TibetWork is said to be progressing on the full-reconstruction of the road linking the town of Gyirong in southern Tibet with a border crossing into Nepal.

Xing Xiuyin, who heads the local repair team, says they expect the road to be completely open by next week.

"We expect it will take four or five days to open the road. It's very difficult, you can see the landslide on my left, they are all huge rocks. So the excavation work will be very slow. In addition, it's very dangerous with lots of rolling rocks. So we need four or five more days."An emergency pass through the route was opened on Tuesday.

Border crossings between the southern part of China's Tibet region and Nepal are vital to local trade.

Most communities in southern Tibet rely on local cross-border trade to maintain their economies.

China pledges continued aid to quake-stricken NepalAnchorThe delivery of a second batch of Chinese relief supplies to Nepal has begun.

The details from CRI's Yu Yang.

ReporterChinese Foreign Ministry spokesperson Hua Chunying says the latest batch of Chinese relief materials is expected to be delivered to Nepal by early next week at the latest.

"We began delivering our second batch of relief supplies weighing 360 tonnes to quake-stricken Nepal this afternoon. All the supplies are expected to get to the Himalayan country within four days. A total of 100 tonnes of emergency supplies provided by the Chinese military arrived in Nepal on May 2nd and May 3rd."Three Chinese military helicopters are also operational in Nepal.

Their goal is to transport both relief goods and transfer the injured to hospital.

The People's Liberation Army is heading the rescue mission.

Officers in-charge admit they are facing a number of challenges.

"We have seen on TV the power lines are mostly tangled and in messy shape. We also face problems with objects on the ground, particularly when we're transporting and delivering disaster relief goods at a lower altitude."Meanwhile, one of the main goals of the Chinese teams on-the-ground in Nepal is epidemic prevention.

Disease control experts and disinfection professionals have been focusing on water quality testing.

Liu Guoxiang with the Chongqing Third Military Medical University says water quality is a major concern.

"Most of the water is not fit for drinking. We are trying to remind people of that."Despite the concerns about the local water supplies, the World Health Organization is suggesting the likelihood of a mass epidemic outbreak in Nepal remains minimal.

However, there are concerns the unseasonal rains which continue to hit many parts of Nepal won't let-up before the annual monsoon season hits.

If this is the case, it may pose a greater challenge.

The death toll from the earthquake two-Saturdays ago stands at close to 77-hundred.

For CRI, this is Yu Yang.

China, US hold party-to-party dialogueAnchorSenior political officials from China and the United States have met in Beijing for high-level talks, focusing mostly on fighting corruption and promoting the rule of law.

CRI's Qi Zhi has the details.

ReporterThis year's session is the eighth high-level party leaders’ dialogue between China and the United States.

Ma Hui with the International Department of the CPC Central Committee says both sides have been focusing on stamping out corruption.

"The talks have been centered on the rule of law and the future development of China and the United States. We outlined China's current drive to comprehensively advance the law-based governance, including the fight against corruption. The US side is quite interested and briefed us some of their measures on how to combat and prevent corruption."China and the U.S. signed an Anti-Corruption Declaration during the APEC summit in Beijing in November.

Last month, the two sides also agreed to beef-up cooperation on capturing and repatriating corrupt officials.

Former US trade representative Ron Kirk, who is leading the US Democratic Party delegation, says the repatriation of criminals is an issue both sides can agree on.

"That is an item that is directly the responsibility of our incumbent government. So I don't think you will find any disagreement whether from the Democratic or the Republican representatives here today in terms of the role of our government to responsibly assist one another in combating corruption."Kirk says the party-to-party meetings is not meant to try to prove the correctness of the American or the Chinese models, but rather for the two sides to understand the strengths of their respective system.

For his part, Minister of the International Department of the CPC Central Committee, Wang Jiarui, also says he believes the meetings enhance mutual understanding.

Bob Holden, Chairman of the MidWest US-China Association and former Missouri governor, says it is important for both sides to keep the lines of communication open.

"I don't know anybody, any organization that has this caliber for exchanges. The foundations of the two systems rely on the people politically involved. So these are the people that we need talking to and listening to. Your political leader of your culture and our political leader of our culture can see each other as partners in what they want to achieve. So we have much greater chance of having economic success as well as social stability. "The two U.S. party delegations have also brought with them entrepreneurs and held a roundtable with their Chinese counterparts, discussing opportunities and challenges on doing business in each other's country.

This year marks the fifth anniversary of the first China-US High Level Political Party Leaders Dialogue.

For CRI, I'm Qi Zhi.

Co-pilot of Germanwings Practices Descending PlaneAnchorNew reports are suggesting the co-pilot of the Germanwings flight which plowed into the French Alps in March, leaving all-aboard dead, adjusted the flight controls a number of times before sending the plane into the mountains.

CRI's Xie Cheng has more.

ReporterA preliminary report by French authorities has revealed the co-pilot, Andreas Lubitz, switched the altitude of the plane from 38-thousand feet to 100 feet shortly after the captain of the plane left the cockpit.

The flight controls were also readjusted during that same 30-second window to allow the plane to hit its maximum altitude of 49-thousand feet.

Markus Wahl with the German pilots' association says the quick adjustments of the altitude headings would not have been noticed by those on-board.

"At least according to the report that was published today, I don't think that the passengers would have noticed that, because the input on the altitude setting was very short, so the aircraft did not have any time to react to the input, so I guess nobody noticed."Meanwhile, authorities are still trying to determine how Lubitz was able to maintain his pilots license, despite revelations he was reportedly having suicidal tendencies and depression.

Jean Serrat, a former Corsair Airline pilot, says it's virtually impossible for airline doctors to judge if a pilot has problems that need dealing with during the short amount of time they have to review their mental health.

"When we go to see the medical twice a year above a certain age, the doctor who is going to see you, he is going to discuss with you for five or ten minutes. How can he see in five or ten minutes that you have deep problems? It's just impossible."The Germanwings flight plowed into the southern French Alps on March 24th while on a flight from Barcelona, Spain to Duesseldorf, Germany, killing all 150 people on board.

Investigations have since revealed Lubitz intentionally downed the plane after locking the captain out of the cockpit while he went to the washroom.

For CRI, I'm Xie Cheng.

Netanyahu Forms Narrow Coalition at Last MomentAnchorIsraeli Prime Minister Benjamin Netanyahu has secured a narrow coalition government, managing to convince 61 of the country's 120 parliamentarians to be part of his new administration.

CRI's Qian Shanming has more.

ReporterJust 2-hours before a final deadline to create a new government, Netanyahu managed to secure an agreement with the far-right Jewish Home Party, allowing him to secure the slimmest of majorities to form a coalition.

The new Israeli government will include Netanyahu's Likud party, former Likud member Moshe Kahlon's Kulanu Party, a pair of religious parties, as well as the Jewish Home.

Professor Abraham Diskin with the Hebrew University of Jerusalem says the last-minute formation of a government in Israel isn't unheard of.

"Maybe (because of) the way that people negotiate, maybe (because) people try to get a little bit more. Both sides, both Likud and their partners try to push forward as much as they can, so they exploit all of the time, and it's quite a routine procedure in Israel. It's not something unique."On Monday, Foreign Minister Avigdor Lieberman, whose long-term relationship with Netanyahu has soured in recent months, dropped a bombshell by taking his far-right Yisrael Beitenu party out of the coalition talks.

While the new coalition only includes the bare minimum of 61 seats, Professor Gideon Rahat with Hebrew University says Netanyahu may try to expand his government's majority as time goes on.

"In Israel, the norm is to have wider coalition, and I think he might attempt to do it. He can also not do it actually, but use it as a threat to his partners. If you don't behave, if you are not good members of the coalition, I have my options."Despite the new players in the coalition, Rahat says most don't expect many policy changes to take place.

"There is moderate element like Kahlon, the Jewish Home is smaller, and Lieberman's outside, so I don't think it's more right-wing than the previous one, it's more or less the same."One of the outstanding questions remains how the new administration is going to address the Palestinian issue.

Abraham Diskin with Hebrew University says policy changes in that area aren't likely either.

"Once there is a move on the Palestinian front to recognize Israel as a Jewish state, and once there is a will within the Zionist Camp, if there are the two conditions, there will be a change in the formation of the government, the Jewish home will leave, the Zionist Camp will join, and then we'll see if we can make a progress or not. Right now the two pre-conditions do not exist, so no one can make peace with the Palestinians."Facing a possible defeat by the Zionist movement in the lead-up to the election in March, Benjamin Netanyahu publically stated he did not favor a two-state solution to the Palestinian question.

He later back-tracked from the statement after the election was over.

For CRI, I'm Qian Shanming.

President Xi to Join Victory Day Parade in Moscow to mark 70th anniversary of WWIIAnchorChina's Ambassador to Russia is suggesting Chinese President Xi Jinping's forthcoming trip to Russia to take part in the celebrations marking the 70th anniversary of the end of World War II in Europe will also help promote the country's "Belt and Road" initiative.

CRI's Poornima Weerasekara has more.

ReporterChina's top envoy to Russia says President Xi's trip to Russia, Kazakhstan and Belarus is a clear signal of China's commitment to safeguarding the hard-won peace following World War II and promoting regional co-operation.

China and Russia were two of the main theaters of war in Asia and Europe during the Second World War and both countries made enormous sacrifices and contributions to the victory over fascism. The two sides have decided to hold a series of events to mark this historic milestone together and have vowed to work hand-in-hand to uphold international justice.

The Highlight of President Xi's three-day visit to Russia is attending Saturday's Victory Day Parade at Red Square in Moscow to commemorate the 70th anniversary since Russia clinched victory in the Great Patriotic War.

China's ambassador to Russia Li Hui says the visit will help take the China-Russia relationship to the next level.

"Both China and Russia fought against fascist aggression during the Second World War and the victory that we secured is very important to all of us. Therefore, commemorating the 70th anniversary of this historic milestone is an opportunity to cherish the peace that has been established since then and ensure that this period in history is not forgotten. It is also an opportunity to strengthen the strategic partnership between the two countries."President Xi is expected to honor WWII veterans in Moscow.

According to Ambassador Li, the Chinese President will also sign a number of bilateral co-operation agreements in strategic areas like energy, finance, investment and infrastructure.

In recent years, there have been frequent exchanges between the top leaders of both China and Russia. Since March 2013, when President Xi paid his first state visit to Russia, the two Heads of State have met 11 times at various bilateral and international gatherings.

According to Ambassador Li, this shows that there is a good working relationship between President Xi and President Putin and that there is a close personal friendship between China and Russia.

President Xi is also set to promote a framework for the establishment of the ambitious Silk Road Economic Belt. This will focus on creating trade and infrastructure networks across Eurasia, as well as the development of the Russia-led Eurasian Economic Union.

Ambassador Li says the two sides need to come up with innovative co-operation models to push forward a complementary development agenda that can bring peace and prosperity to people in both China and Russia.

"The Russian leadership at every level, and academic circles, have all paid close attention to the Silk Road initiative. Russia has also expressed its support for this idea in various occasions. There are several unique advantages for Sino-Russian cooperation when promoting the Silk Road initiative. This includes geographical proximity, close political ties and complementary economic interests. Therefore, the collaboration covers a broad spectrum of issues."President Xi will kick-off his 3-nation tour with a trip to Kazakhstan on Thursday. After his three day visit to Russia, Xi will pay a visit to Belarus, the first by a Chinese president in 14 years.

For CRI I'm Poornima WeerasekaraIndian Media: Trade Expected to Top Agenda of Indian PM's China TripAnchorThe release of more details about Indian Prime Minister Narendra Modi's trip to China this coming week is creating a buzz in a number of leading Indian publications.

CRI's India correspondent Sun Yang has more from New Delhi.

ReporterModi will be arriving on a three-day visit to China on May 14th, his first after taking over as prime minister.

He is scheduled to meet with President Xi Jinping, Premier Li Keqiang and top legislator Zhang Dejiang.

After Beijing, Modi will also visit Xi'an and Shanghai and participate in a series of cultural and business events.

The trip follows a visit by Xi Jinping to India last September, where the two leaders emphasized cooperation and business deals, including funding for railways.

Indian newspaper, the Hindustan Times, reports that enhancing trade and investment ties will top the agenda of Modi's visit.

According to the newspaper, China is India's biggest trading partner with two-way commerce totaling close to 70 billion dollars a year. But India's trade imbalance with China has been growing over the past decade.

It quotes experts as saying that India must bridge the gap with China by seeking greater access to the Chinese market, with the two sides targeting annual bilateral trade of 100 billion dollars this year.

India's leading business newspaper, the Business Standard, reports that the Indian Prime Minister might push for greater services trade, and raise the issue of India having some access to China's 'One Belt One Road'.

Regarding strategic affairs, both sides are expected to seek an early settlement to a controversial boundary issue.

Meanwhile, the Prime Minister has also tried to promote his trip and get closer to the Chinese people.

He opened his account on China's twitter-like Weibo service this past Monday and put out four posts yesterday, recalling the meeting with President Xi last year in India and looking forward to the upcoming visit.

For CRI, I'm Sun Yang in New Delhi.

Record 38 million people internally displaced by conflicts: IDMCNew stats are suggesting a record 38-million people are currently displaced inside their own countries.

The Geneva-based Internal Displacement Monitoring Center says its calculated that an estimated 30-thousand people were forced from their homes everyday last year because of major conflicts, such as the ones in Ukraine and Syria.

Jan Egeland, head of the Norwegian Refugee Council, says the figures represent the worst forced displacement of people in a generation.

"Syria is the number one displacement country of this generation now. 7.6 million Internally displaced plus 4 million refugees outside 11.6 million - more than 50 percent of the population. So it is as difficult and as simple to say United States, Russia, Iran, Saudi Arabia, and Turkey you have to sit down and send one signal into this conflict stop it."It's estimated the number of people who are internally-displaced within their own countries is twice that of people who flee to become international refugees.

Activists say this figure was on equal-footing 20-years ago.

The group is also warning that the rise of the Islamic State and Boko Haram in Nigeria is also adding to the figures.

More than 500 migrants arrive in NaplesOver 500 more migrants have been pulled to safety off a single boat by the Italian Navy on Wednesday.

Italian authorities say the migrants were packed on a vessel only built to hold 300.

Some 200 of the 562 migrants were discovered in the engine compartment of the boat.

This comes as the EU pushes for a draft resolution in the UN Security Council to seize boats in Libya which might be used to ferry people into European territory.

At the same time, Francesco Rocca with the Italian Red Cross says putting these boats out of commission will not help the situation.

"We cannot think that the flow from the Horn of Africa will magically stop just because we shut down and sink vessels. We ask that there is an action for our situation that puts the human being in the center and stops labeling them as illegal."European officials have put new guidelines in-place which allow the boats caught transporting migrants to be sunk after the passengers are off-loaded.

Innovative Tree Produces ElectricityAnchorA company in Finland has developed an energy harvesting 'tree' which can power electronic devices.

CRI's Guo Yan has the details.

Reporter"It's an energy harvesting tree. It has small leaves that are actually flexible and decorative solar panels, and it has the trunk, it's made of wood-based biomaterials and it has a small LED light. "Paula Bergqvist is the communications officer of VTT Technical Research Centre, which is trying to promote its latest cutting-edge electricity-generating tree.

The tree, both decorative and useful has solar panel leaves.

The solar panel leaves are only 0.2mm thick, and includes the electrodes and polymer layers where light is collected.

Tapio Ritvonen, head of VTT's printed optoelectronic systems team, explains why the system used to produce the tree is so valuable.

"We are utilising low-cost mass manufacturing printing methods to produce, for example, organic solar-cell-panels, organic LEDs, memories, batteries, sensors, bio sensors and micro fluidics for example. This kind of a flexible thin, lightweight component can be done in high volumes. And this machine can produce over two thousand square metres of printed components per day."VTT uses the same production method for the large-scale manufacture of plastic sheets of printed organic light-emitting diodes (OLEDs), marking a breakthrough for the company in this area.

VTT says the technology used in the OLEDs could be applied to healthcare with the help of a smartphone.

Leena Hakalahti is the research team leader:

"The stripes can be cut out from the roll and they can be used for measuring some analytes from your blood samples at home or at doctor's office with a smart phone based camera system with an additional operational optical unit."While the company has found a way to mass produce organic solar panels and OLEDs in a cost-effective way, the solar 'leaves' on its energy harvesting tree are not yet as efficient as conventional silicon-based solar panels.

VTT is eyeing a new generation of efficient solar panels using a mineral called perovskite.

The company, based in the northern Finnish city of Oulu, has begun research in this area already.

For CRI, I'm Guo Yan.

Stolen Buddha sculpture head to unite with the body at Taiwan exhibitionOfficials from a museum in Hebei are now in the process of transporting the body of an ancient Buddha statue to Taiwan to be reunited with its head.

The head has been re-discovered after it was donated to a Buddhist temple last year in the city of Kaohsiung in Taiwan by a private collector, who told the Abbott of the Temple he purchased it at auction.

After doing some research, the Abbott discovered the head belongs to a Buddha statue carved on the mainland back in the 6th century.

Once re-united, Zhao Gushan with Art Exhibitions China says the Buddha statue will go on display in Taiwan.

"Fo Guang Shan will hold an exhibition called 'The Illuminating Buddha - A Ceremony for the Reunion of the Head and Body of Youju Temple Buddha.' In the meantime, there will also be a Buddha relics exhibition in Hebei, which will run for two month till the end of August. The Buddha's body and head will be on display for a longer period of time in Taiwan."The statue itself dates back to the Northern Qi of the South and North Dynasty phase of Chinese history, which only survived for about 28 years, from 550 to 577 C.E., making the statue an extremely unique relic in Chinese history.

It remains unclear how the head of the statue was stolen in 1996.

WeatherBeijing will be sunny today with a high of 25 degrees Celsius.

Overnight temperatures should drop down to 14.

Shanghai will be cloudy with a high of 27 and a low of 17.

In Chongqing, it will be sunny during the daytime with a high of 29 and lows of 21.

Elsewhere in the world, staying here in Asia,Kathmandu, cloudy, 29.

Islamabad will be cloudy with a high of 39.

Kabul will be cloudy with a high of 29.

Over to North America,New York will be sunny with a high of 25 degrees.

Washington, sunny with a high of 28 degrees.

Honolulu, partly cloudy, 27.

Toronto, Canada, will be sunny with a high of 24 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 17.

And Rio de Janeiro will see showers with a high of 26 degrees Celsius.

Headline newsChinese president urges continued quake relief work in TibetChinese President Xi Jinping is calling for more to be done to help people in Tibet affected by last month's earthquake in Nepal.

In making the call, he's put an emphasis on repairing damaged infrastructure.

Premier Li Keqiang is also calling on local governmental departments to mobilize more resources to help those in need.

The earthquake in Nepal two Saturdays ago left 26 people dead in Tibet.

It also leveled around 27-hundred homes.

Around 64-thousand people in Tibet are currently living in temporary shelters.

China pledges continued aid to quake-stricken NepalThe delivery of a second batch of Chinese relief supplies to Nepal has begun.

The Chinese Foreign Ministry says the latest aid of 360 tonnes is expected to be delivered by early next week at the latest.

Three Chinese military helicopters are also operational in Nepal, transporting relief goods and transferring the injured to hospital.

Meanwhile, one of the main goals of the Chinese teams on-the-ground in Nepal is epidemic prevention.

Disease control experts and disinfection professionals have been focusing on water quality testing.

UK General Election poisedUK voters are headed to the polls later today in what is being touted as the closest election in UK history in decades.

Polling ahead of today's vote suggests both Prime Minsiter David Cameron's Conservatives and the Labour Party, headed by Ed Miliband, are running neck-and-neck.

Surveys are also suggesting neither party is going to secure an outright majority.

This means smaller parties, such as the Scottish Nationalist Party, may end up being "King-maker" in parliament.

50 killed as random mortar shells hit refugee camp in Yemen's AdenUp to 50 people, mostly women and children, have been killed in shelling in a refugee camp in Yemen's southern port city of Aden.

Medical officials say over a hundred others have been hurt.

The exact number of dead and injured hasn't been independently verified.

Fighting between the Houthi rebels and tribal militias loyal to Yemen's ousted President Abdu-Rabbu Mansour Hadi have been escalating in Aden.

This has reportedly forced tens-of-thousands out of their homes, in what is said to be the heaviest fighting between the two sides since late March.

Manned mission to ISS to be delayed due to cargo craft's failureRussian authorities have confirmed their planned manned mission to the International Space Station is going to be delayed due to the recent failure of its unmanned cargo flight.

The three-man crew was originally scheduled to be launched on May 26th.

Roscosmos says it's now amending its flight program.

The unmanned 'Progress' cargo craft, launched late last month with fuel, oxygen, food and other supplies to the ISS, went into an uncontrolled spin shortly after entering orbit last week.

Russian officials say its due to burn up in the atmosphere sometime tomorrow.

Biz reportsFirst, a quick check on the closing numbers across North America and Europe.

U.S. stocks retreated further on Wednesday following a sharp decline in the previous session.

This comes amid a warning from US Federal Reserve Chair Janet Yellen that equity market valuations appear "quite high."In making the comments, Yellen is also warning long-term interest rates may rise rapidly after the Fed raise interest rates later on this year.

Meanwhile, U.S. private jobs data has come out much weaker than expected.

Bucking the trend, shares Tesla gained 2-percent on the day Wednesday, despite posting a narrow loss in Q1.

At the close,The Dow Jones shed 0.5 percent.

The S&P 500 also finished down 0.5 percent.

The Nasdaq slumped 0.4 percent.

Over in Europe,European markets ended a volatile session on the plus side Wednesday on the back of Yellen's comments.

Most European indices appeared headed for significant gains until Yellen's comments came out in the afternoon session.

At Close,The UK's FTSE 100 increased 0.1 percent.

Germany's DAX was up 0.2 percent.

and France's CAC 40 advanced 0.2 percent .

China to reduce more price controls on gov't catalogThe National Development and Reform Commission has announced plans to lift its controls on the prices of a series of essential commodities.

Price controls are being eliminated on 7 major categories, including natural gas, water, electricity and key transportation services.

The new proposals are being put to public scrutiny for the next two-weeks.

The government has already begun to relax its grip on other areas, including medicine, tobacco, telecom and rail services.

It's part of a broader-based plan by the Chinese government to make the economy more market-oriented.

Lanzhou Likely to become the first inland Free trade zoneIt's being reported Gansu's capital, Lanzhou, is poised to become the first inland Free trade zone in China.

Local media reports out of Lanzhou say around 90-percent of the proposed FTZ's bonded zone has already been built.

It's expected to be operational by June.

At least 10 investment projects involving some 40 different companies have already been tapped to set up operations in the FTZ.

Lanzhou is one of a number of Chinese cities the Ministry of Commerce is considering for a Free Trade Zone.

Shanghai FTZ mulls offshore investment program for Chinese residentsAnchorAuthorities in Shanghai have announced a new program to allow people living in the Shanghai Free Trade Zone to become individual overseas investors.

Under the new scheme, people who have lived and worked in the FTZ for a year will be allowed to become part of the overseas investment strategy.

At the same time, authorities in Shanghai are also planning to expand the annual foreign exchange quotas from 50-thousand US dollars a year to as much as 300-thousand US dollars.

This should allow traders to invest more in the overseas markets.

For more on the move we are joined on the line by CRI's financial commentator, Cao Can.

Talking points:

Q1: In what ways can individual investors in China benefit from this program?

Q2: Now that Chinese investors are given more freedom to invest in overseas financial markets. Is it going to expose them to more financial risks? How will authorities help to manage the risks?

Q3: How is the outlook of this program? Do you foresee foreign investors will also enjoy more freedom to invest in the Chinese market?

Back anchor:

Cao Can, CRI's financial commentator.

China to tighten scrutiny on P2P lendingChina's banking regulator has announced plans for a new registration-based peer-to-peer platforms.

P2P platforms are now going to have to register with local authorities before they can begin operating.

At the same time, authorities are also banning the trading of high-risk products and the raising of registered capital on p2p sites.

Some 230 P2P platforms have reported defaults or difficulties in the first 4-month of this year.

P2P lending in China has surged to close to 9 billion US dollars in April.

China Services PMI Continues to Grow in April: HSBCHSBC's revised PMI readings for the Chinese service sector are showing a larger-scale expansion through April.

The bank's final reading for April has come in at 52.9.

This is up from the 52.3 figure registered in March.

This is the quickest expansion in some four months.

Any reading above 50 indicates expansion.

HSBC is attributing the growth to the expansion of new business in the service sector, with the pace of new orders also picking up.

The bank is also citing improved consumer confidence, partly due to the recent strong performance of the Chinese stock market.

Growth in the service sector comes amid the downturn in the manufacturing sector.

HSBC's manufacturing PMI for April has come in at 48.9, lower than the market forecast of 49.4.

China National Nuclear Corp open for alliance with France's ArevaChinese State nuclear firm China National Nuclear Corporation says it is open to an alliance with French nuclear firm Areva.

The comments come amid word the French firm is restructuring its business to cope with losses.

China National Nuclear is already involved with Areva in a reactor project in the UK.

In making the statement, the Chinese firm says its also willing to work with the French firm in areas such as uranium mining, fuel supplies and reactor building.

Areva reported a 5.5 billion US dollar decline in profits last year.

China, Brunei ink deal on construction of Pulau Muara Besar BridgeChina Harbor Engineering Company and the Brunei Economic Development Board has signed a contract for the construction of a Bridge, Road and Utilities project in the country.

The contract itself is worth some 200-million US dollars.

It involves the construction of a 2.7-kilometer long bridge, a nearly 3 thousand kilometers of roads, as well as power and telecom lines in Brunei.

The project is due to complete by 2018.

SportsFootball: La Liga Threatens League Suspension Over TV Rights DisputeKicking things off with news from the world of football:

La Liga will suspend all on-pitch action starting May 16 due to a dispute with the Spanish government intervening in the league's television rights.

Last week, Spain passed a law that will force the Spanish Football Federation, or RFEF, to sell all La Liga TV rights collectively, auctioning them to the highest bidder.

The RFEF will receive 4.55 percent of rights revenue--an amount the league is not happy with.

The league says the law "has not resolved any of the problems affecting soccer," and is threatening the "indefinite strike," which will impact the final two weeks of the league's season, as well as the Copa del Rey final on May 30.

As it stands now, each club is responsible for its own TV rights. The rule has filled the pockets of La Liga powerhouses Barcelona and Real Madrid. In 2014, the two clubs netted a total of about 318 million U.S. dollars, which was around a third of total TV rights for La Liga that year.

The monetary gains have long allowed Barca and Real to outbid other clubs in the league for top football talent.

Football: Barcelona Shut out Bayern Munich 3-0 in UEFA Champions Semi-FinalsIn on-pitch soccer action from the UEFA Champions League:

Barcelona shut out Bayern Munich 3-0, giving former coach Pep Guardiola a rough welcome back to the Camp Nou for the first leg of their Champions League semi-finals match-up.

Lionel Messi struck in the 77th and 80th minutes to put his side up 2-0.

Neymar tripled scoring during stoppage time to give Barcelona the three-goal win.

NBA Playoff PreviewOver in the National Basketball Association Playoffs:

On court right now:

The Chicago Bulls are taking on the Cleveland Cavaliers;And later, at about 9:30 a.m., Beijing time:

The Los Angeles Clippers will host the Houston Rockets for game two of their Western Conference semi-finals match up.

NFL: Investigation Concludes New England "Probably" Deflated Balls in AFC Champion WinIn news from the National Football League:

The NFL's independent investigation into "deflate gate" has concluded that the New England Patriots "probably" intentionally deflated the footballs to gain an advantage in their AFC title game in January.

Attorney Ted Wells, who was hired by the NFL to conduct the investigation, presented his findings in report, which says "it is more probable than not that New England Patriots personnel participated in violations of the Playing Rules" and deflated footballs in their 45-7 AFC win over the Indianapolis Colts.

The report also said that Pats quarterback Tom Brady was probably "at least generally aware" of the deflated balls.

New England went on to win the Superbowl; head coach Bill Belichick refused to address the issue during Super Bowl week.

Patriots CEO Robert Kraft said the team would not challenge the findings.

The report's conclusion will now be handed to Troy Vincent, NFL executive vice president of football operations.

Cambodia PM Hun Sen Refuses to Pay $5k Bet on PacquiaoIn Boxing news:

Cambodian Prime Minister Hun Sen is reportedly refusing to pay a five-thousand-US-dollar bet he placed on the Pac-Man, saying that it is not a fair decision that the more-defensive Mayweather won:

"Even in the 12th round Pacquiao was still coming forward on to Floyd Mayweather but the decision they came up with was not understandable, so I appeal to those three US judges to explain why, for what reason, did they think that Floyd Mayweather won the fight."Hun Sen added that the decision for Mayweather was "an injustice created by judges" and that not making good on his bet is a protest of that decision.

Tennis: Madrid Open RecapIn tennis action down at the Madrid Open:

Top-seeded Roger Federer suffered an upset loss at the racket of Aussie Nick Kygios in a close match that lasted over two hours.

Kyrgios won the grueling duel 6-7, 7-6, 7-6.

Third-seed Rafael Nadal had an easier time with his opponent, downing American Steve Johnson in straight sets.

Kei Nishikori, seeded fourth here, vs. David Goffinand second-seed Andy Murray will have a rematch when he later faces Germany's Philip Kohlschreiber, who the Scot beat two days ago at the Munich Open final.

In women's action from Madrid:

Top-seed Serena Williams is through after defeating Victoria Azarenka 7-6, 3-6, 7-6.

No. 3 Maria Sharapova is also through after ousting France's Caroline Garcia 2-6, 6-4, 7-5.

Fourth-seed Petra Kvitova took a straight-set win over Russia's Anastasia Pavlyuchenkova.

No. 5 Caroline Wozniacki advances after beating no. 9 Agnieszka Radwankska in straight sets.

Also through are Spain's Carla Suarez-Navarro and Czech LUcie Safarova.

NHL PreviewIn action from the National Hockey League playoffs:

The Montreal Canadiens are on ice right now against the Tampa Bay Lightning:

Tampa Bay currently leads the series 2 games to 0.

And just getting underway,the New York Rangers and Washington Cpatials are mixing it up for game 4 of their playoff series.

The Caps currently leading that series 2-1.

EntertainmentHot Chocolate singer Errol Brown dies aged 71Errol Brown, lead singer of the band Hot Chocolate has died at the age of 71.

Hot Chocolate was known worldwide for hits such as "Emma," "Every 1's a Winner," and "You Sexy Thing."Brown had liver cancer, and according to his manager Phil Dale, he passed away at his home in The Bahamas, with his wife Ginette and daughters Colette and Leonie by his side.

Tributes have been pouring in for the singer from across the music world.

Brown was made a Member of the British Empire by Queen Elizabeth in 2003 for his services to popular music. A year later, he received an Ivor Novello award for outstanding contribution to British music.

Bollywood star sentenced to five years in jail for fatal hit and runBollywood superstar Salman Khan has been sentenced to five years in jail for a fatal hit-and-run in 2002.

He was found guilty of all charges in the case that killed one person and injured several others.

The actor, who has appeared in nearly 100 Hindi-language films, was charged with culpable homicide and driving under the influence after crashing his SUV into a bakery in Mumbai.

Khan had successfully dodged the charges for several years. At one point, placing the blame on his driver, although the judge refused to believe his testimony.

The judge determined that the actor was solely responsible for the deadly incident.

49-year-old Khan had recently been filming a new movie in Kashmir.

"Beauty and the Beast" heading to MacaoMusical extravaganza Disney's "Beauty and the Beast" is coming to Macao in June, as part of its world tour in celebration of the Broadway show's 20th anniversary.

Organizer Dave Horton said that Broadway musicals are the latest in a long line of additions to the ever-expanding array of non-gaming attractions, available to locals and visitors of Macao.

"Beauty and the Beast" tells the story of Belle and the Beast, who is really prince trapped by a spell placed on him by the enchantress.

If the beast can learn to love and be loved, the curse will be broken and he will be transformed back into his former self.

The show premiered on Broadway in 1994, where it was nominated for nine prestigious Tony Awards.

Disney's "Beauty and the Beast" Broadway show will be in Macao from June 13 to July 26.

Paul Weller set to release new albumBritish musician Paul Weller is releasing a new album titled "Saturns Pattern."Best known as the frontman of iconic rock band The Jam, Weller will release his twelfth studio album later this month.

His last LP, "Sonik Kicks," went straight to the top of the UK album charts back in 2012.

With the help of bandmates Steve Cradock and Andy Lewis, Weller said he discovered the sound he was looking for.

"I knew what I didn't want to make but I didn't know what we should be making, I just wanted to hear something fresh, something new and I had no idea what that would be. So you know, like most albums really, once you get two, three, four songs under your belt it forms."Paul Weller's "Saturns Pattern," which contains the singles "White Sky" and "Long Time," is released on 18 May 2015.

That’s it for this edition of the Beijing Hour.

A quick look at the headlines before we go...

A second major batch of Chinese relief materials is on its way to Nepal amid calls by China's leadership to do more in areas of Tibet rattled by last month's massive quake.

A meeting among political party officials from China and the US has been held here in Beijing.

Israeli Prime Minister Benjamin Netanyahu manages to cobble together a last-minute coalition government.

In Business.... new reports suggest Gansu's capital Lanzhou might be the next city to be home to a Free Trade Zone.

On behalf of the Beijing Hour staffers, this is Paul James Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together.