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

Coming up on the program this evening...

India's Prime Minister overseas the signing of billions of US dollars worth of deals during his stop in Shanghai...

Chinese and Vietnamese defense chiefs have held meetings to discuss a range of military issues, including disputes in the South China Sea...

In the US, a jury has sentenced the surviving Boston Marathon bomber to death by lethal injection...

In our BIZ roundup, interest rates in China are cut once again, while economic data continues to show weakness...

In Sport: a Chinese athletics star retires, with a ceremony tomorrow in Shanghai...

In Entertainment: Director David Lynch has signed on for the reboot of his iconic TV show Twin Peaks...

All of that coming up in just a moment, but first, just a reminder there are several ways to reach out to us here on the Beijing Hour.

You can follow us on our weibo account at weibo.com/beijinghour, or email us directly at [email protected]. You can also visit english.cri.cn for the latest news and information from China Radio International.

Top NewsModi invites Top Chinese CEOs to "Make in India"; Deals Worth US$ 22 Billion SignedAnchor:

Indian Prime Minister Narendra Modi met with top Chinese CEOs in Shanghai on Saturday in an attempt to woo Chinese investors to manufacture in India.

The meeting has led to the signing of 21 agreements worth over 22 billion US dollars and involves sectors from steel to solar energy.

CRI's Poornima Weerasekara has the detailsReporter:

The Indian Prime minister unleashed a charm-offensive on top Chinese CEOs in a bid to attract much needed infrastructure investments to India.

Narendra Modi had a candid roundtable chat with 22 top Chinese CEOs including Jack Ma of e-commerce giant Alibaba and Lin Bin, President of phone maker Xiaomi - which has already made inroads into India.

A confident Modi says his new government is "the most business friendly" regime in recent decades in India.

"You will already be knowing the direction of my government and the steps we are taking. We have committed ourselves to creating and improving the business environment. I can assure you that once you decide to be in India we are confident to make you more and more comfortable."Modi's top priority in China is to find ways to reduce India's 48 billion US dollar trade deficit with its neighbor. India's massive trade gap with China accounts for almost one third of its overall deficit.

Modi's aggressive "Made in India" campaign aims to attract Chinese manufacturers struggling with rising labour costs at home to shift production to India to save money.

Chinese CEOs are already warming to this message.

After Modi's speech, more than 20 business agreements worth over 22 billion US dollars were exchanged between Chinese and Indian companies.

These agreements cover a wide range of sectors from telecoms, steel, solar energy, and even a film-industry tie-up with Bollywood.

Modi also met with over 5000 Indians expats, living across China.

One of Modi's final stops in Shanghai included the inauguration of a center for Gandhian studies at prestigious Fudan University.

There, he re-iterated the message of non-violence and the need for the two Asian giants to work in tandem to achieve regional stability.

"We have complimented each other in the past. We can compliment in the present and future too. As two major economies in Asia, the harmonious partnership between India and China is essential for the economic development and political stability of the continent."Shanghai is the last stop of Modi's three day tour of China.

With his business-oriented policies and positive personal rapport with the Chinese President - evident when Xi Jinping decided to host Modi in his hometown - the Indian prime minister's visit is expected to set a new course for the relationship between Asia's two largest economies.

For CRI I'm Poornima WeerasekaraIndian Eatery in ShanghaiAnchor:

Indian Prime Minister Nahendra Modi is in Shanghai today, the last leg of his visit to China.

Many Indian expats in the city are expecting his arrival to bring them more business opportunities.

Liu Min has more.

Reporter:

Rajesh Prabhakar opened his first restaurant in Shanghai in 2002 with an ambition to bring a real taste of India to China.

In his eyes, India is well-known for its spices, which flavor the country's food and heritage.

"Indian food is all about spices. As long as we have good spices, the outcome of the curries and the barbecues will be good, and we try to ship them from India. Most of our spices, ingredients, all of our cooking teams are very much Indian."Prabhakar started his business in the hope that people in Shanghai looking for authentic Indian food, especially Indian expats, wouldn't need to travel all the way to India.

And his efforts have paid off.

Many Indians in the city have been attracted to his Masala Art Restaurant for genuine Indian cuisines and considerate service.

Siddharth S. Sinha is a regular diner of Prabhakar's.

"The food is very authentic, north Indian, which we always get outside in India. The portions are very good, so it is good value for the money. And the chefs are very flexible - if we have a particular taste, we can just go and tell them this is the kind of Indian food that we want, usually they bring out that thing."In addition to soothing homesickness within Shanghai's growing Indian community, the restaurants have also attracted Chinese people hungry for a taste of Indian culture.

Customer Bryan Meng says the delicacies here help him learn more about Indian history and culture.

"From the food you can see the country's history. Why do we eat spicy food in India, or why do we eat spicy food in certain parts of China. So I think food is a very important part of the culture."Over the past 13 years, Prabhakar has expanded to four restaurants in Shanghai's downtown area.

He has also found a notable rise in the popularity of Indian food, especially among local young people.

"Way back when we started our first restaurant in 2002, people were very curious about what Indian food is all about, because there were very very few Indian restaurants. I think the youngsters of today want to experience different cuisines, there is so much of eating in our culture getting into people here."With the arrival of Indian Prime Minister Nahendra Modi in the city, Prabhakar is optimistic about the future of his restaurants.

He also hopes his food can help create more interest in Indian culture among Chinese people.

For CRI, I'm Liu Min.

US Secretary of State John Kerry Meets Chinese Foreign Minister Wang Yi in BeijingChinese Foreign Minister Wang Yi has met with U.S. Secretary of State John Kerry in Beijing.

The two sides have sat down to discuss a range of issues including the situation in the South China Sea.

At a joint news conference after the meeting, both Wang and Kerry stressed the importance of dialogue to resolve the dispute in the South China Sea.

Kerry urged China to help reduce tensions in the region.

"And I urged China through Foreign Minister Wang to take actions that will join with everybody in helping to reduce tensions and increase the prospect of diplomatic solutions. And I think we agree that the region needs smart diplomacy in order to conclude the ASEAN-China code of conduct and not outposts and military strips."Wang Yi replied that China is determined to safeguard its sovereignty and looks to resolve differences through dialogue.

"I would like to reaffirm that China's determination to safeguard its sovereignty and territorial integrity is as hard as a rock. It is the people's demand of the government and our legitimate right. With regard to construction on the Nansha islands and reefs, this is fully within the scope of China's sovereignty. But with regard to all parties' concerns, we are willing to increase mutual understanding through dialogue."The South China Sea dispute is the latest source of friction between the world's two biggest economies.

For more on the joint statements and the situation in the South China Sea, we are now joined on the line by Mr. Lin Shaowen, CRI's senior political analyst.

Talking points:

Q1: Based on Kerry and Wang Yi's statements, what are the main differences in the Chinese and U.S. stances on the South China Sea issue?

Q2: Looking forward, how can the disputes revolving around the South China Sea be resolved? What efforts should be made regarding this issue?

"Made in China" ferries help relieve Rio's traffic pressureAnchor:

Chinese premier Li Keqiang is going to visit four Latin America countries starting on Monday, including a stop in Rio De Janeiro, Brazil which is preparing to host next year's summer Olympic Games.

China and Brazil cooperate across in a wide range of fields, especially in infrastructure construction. The "made in China" label is now frequently seen in the city.

Our reporter Zhao Jianfu has the details.

Reporter:

"I think there should be more vehicles, for there are too many passenger during rush hours. And it's too crowded.""A lot of people travel by subway , so I think we should import more subway trains. There is a huge demand. ""It couldn't be better if there are more ferries like this. Because the old ones can no longer meet the demand. I hope there could be more new ferries."Local residents in Rio De Janeiro welcoming new ferries made in China.

The "sugarloaf mountain" ferry was imported to Rio last December.

Ingrid is a lawyer and commutes to her workplace by ferry everyday. She says the new boat is more comfortable and it's well equipped.

"The "sugarloaf mountain" ferry is awesome. The old ferry was slow and not comfortable. The new boat has air conditioning. Travelers can admire the beautiful landscape along the route in comfort. Many tourists choose to travel by ferry. The twenty- minutes trip makes us feel relaxed."The "sugarloaf mountain" serves commuters between the port of Rio and Niteroi.

Tiago is an engineer at CCR ship company in Brazil.

He says the "sugarloaf mountain" is mainly used for serving commuters during rush hour. It has a capacity of 2000 people.

"now that the "sugar loaf mountain" has been officially put into use, it makes 12 round trips per day, which has offered great relief to our transportation system. It is only one of the seven ferries we have imported from China. The ferries are quite modern. They are equipped with a lot of high-tech facilities to meet the demand of travelers."Tiago adds that the passenger ferry route between Rio and Niteroi is busiest one of its kind in the world.

Cooperation between the local government in Rio and China Shipping Industry is of great significance as Brazil is dedicated to improving its infrastructure and preparing for the 2016 Olympic Games.

Tiago reveals that ferries and subway trains made in China will serve visitors during the Olympic Games to relieve traffic pressure of the city.

He adds the renovation project of the Harbour of Rio will also be completed by then.

"Before the Olympic Games in August 2016, the entire harbour will have been renovated. During the event, the seven ferries made in China will all be put into use. So undoubtedly, passengers will feel much more comfortable during their trips."Companies from Rio De Janeiro and China have cooperated on a wide range items in terms of infrastructure construction such as renewable energy vehicles. Residents in Rio are expected to take electric cars and buses in the near future.

For CRI, I'm Zhao Jianfu.

China, Vietnam Defense Chiefs Meet on BorderAnchor:

Defense chiefs of China and Vietnam have met, discussing issues ranging from military relationships to the South China Sea.

Min Rui has more.

Reporters:

The meeting was held on Friday in Vietnam's city of Lao Cai that borders Yunnan province.

This is the second high-level border dialogue between the Chinese and Vietnamese militaries.

The meeting was co-chaired by Chinese State Councilor and Defense Minister Chang Wanquan and his Vietnamese counterpart Phung Quang Thanh.

Chang says the bilateral friendship has withstood challenges posed by the changing international situation, adding that China will uphold the principles of the relationship as well as the spirit of "Good Neighbors, Good Friends, Good Comrades and Good Partners."He noted that China cherishes the relationship and will implement the important consensus reached by Xi Jinping, general secretary of the Communist Party of China Central Committee, and his Vietnamese counterpart, Nguyen Phu Trong.

For his part, Phung Quang Thanh spoke highly of the meeting in its role promoting bilateral ties.

"This is the first meeting between the defense ministers of the two countries in the border area since the establishment of bilateral ties 65 years ago. Vietnam attaches great importance both to the bilateral friendship and partnership."Thanh says Vietnam is ready to work with China to promote cooperation in various fields, including between the two militaries, and make new contributions to ensuring regional peace and stability.

Thanh also extended an invitation to Chang to visit Vietnam and Chang accepted.

Following the meeting, there was a symposium on China-Vietnam friendship between the two militaries.

Qi Jianguo, deputy chief of General Staff of the Chinese military, called for more focus on the "big picture of bilateral ties""Only with bilateral ties kept in-mind can we find more common ground. Only with the adherence to the 'win-win' philosophy can we carry forward the traditional friendship. This meeting should send a signal not only to the two peoples but also the world that China and Vietnam will make permanent efforts for peace."Vo Trong Viet, commander of Vietnamese border guards, suggested enhanced exchanges and cooperation between border troops to aid the crackdown on drugs and human trafficking.

China and Vietnam are trying to cool tensions over disputes in the South China Sea.

When CPV general secretary Nguyen Phu Trong visited Beijing last month, President Xi Jinping suggested the two countries find new solutions to current problems and new ideas to advance the bilateral relationship in a sustained way.

For CRI, I'm Min Rui.

Stock Watchdog Responds to Tightened ControlThe China Securities Regulatory Commission is vowing to keep a close watch on the investment of public funds and handle any legal violations in a timely manner.

But meanwhile, the watchdog denies that some rumoured investigations have already taken place.

CSRC spokesman Deng Ge.

"The CSRC has not conducted any investigation or window instruction as rumored. Managers of public funds should operate investment according to law and regulations. The CSRC will supervise such operation according to law, without interfering in public fund managers' normal business."The rumors over the so-called investigation and instruction are believed to have triggered drops in the country's stock market over recent days.

Deng notes that anyone found involved in any irregularity, either on laws, regulations or contracts, will be punished.

Speculation over stricter supervision has risen as trading frenzy mounts in China's Enterprise Market.

At present, the NASDAQ-like market has an average price-earnings ratio of 114 times, with nearly 230 shares' prices doubling already this year.

Experts have warned of bubbles in the market.

Death toll from May 12 quake climbs to 136 in NepalThe strong aftershock that struck Nepal on Tuesday is now blamed for 136 deaths.

Combined with the initial quake that struck on April 25th, there have been nearly 8,500 deaths.

The number of injured now exceeds 100-thousand.

Bodies of All Missing Copter Crew Recovered in NepalThe bodies of all eight soldiers on board the crashed U.S. military helicopter in Nepal have been recovered from the wreckage high on a mountainside.

Jagadish Chandra Pokharel, spokesman for the Nepali Military.

"I can confirm you now that two of the Nepali soldiers and six U.S. marines we have found them in the wreckage."The helicopter disappeared on Tuesday during a mission to distribute aid to quake survivors.

The crash debris was found on Friday some eight miles north of a town named Charikot, near dense forest and rugged terrain at an altitude of about 3,400 meters.

The remains will soon be transferred to Kathmandu, where the soldiers' identities will be confirmed.

Earlier reports said the crew had been heard over the radio saying the aircraft was experiencing a fuel problem.

Morsi Sentenced to DeathAn Egyptian court has sentenced ousted President Mohammed Morsi to death over his part in a mass prison break that took place during the 2011 uprising that toppled Hosni Mubarak.

As is customary in passing capital punishment, Judge Shaaban el-Shami referred his death sentence on Morsi and others to the nation's top Muslim theologian, or mufti, for his non-binding opinion.

He set June 2 for the next hearing.

"Mohamed Saad Tawfeeq Mostafa al-Katatny, Mohamed Mohamed Mursi Eissa al-Ayat, Essam al-Din Mohamed Hussein al-Arian, and has set the date June 2, 2015, to announce the [final] verdict."Morsi, Egypt's first freely elected president, was ousted by the military in July 2013 following days of mass street protests by Egyptians demanding that he be removed because of his divisive policies.

The ousted leader already is serving a 20-year sentence following his conviction on April 21 on charges linked to the killing of protesters outside a Cairo presidential palace in December 2012.

Boston Marathon bomber sentenced to deathAnchor:

A Federal jury in the US has handed a death sentence to Boston Marathon bomber Dzhokhar Tsarnaev.

As CRI's chief US correspondent Xiaohong reports, the verdict has elicited mixed reactions from bombing victims and their families.

Reporter:

After 14 hours of deliberation spanning three days, the jury came back on Friday with a unanimous decision to put Tsarnaev to death.

US Attorney Carmen Ortiz hails the decision that came after two years of investigation and a 12-week trial"Today, the jury has spoken. And Dzhokhar Tsarnaev will pay with his life for his crimes."Two bombs went off at the finish line of the Boston Marathon two years ago killing three people, including a Chinese graduate student, and injuring more than 200 others.

Massachusetts governor Charlie Baker says the verdict offered a kind of closure.

"At this point of time, I hope this represents some kind of closure for all those who are affected by this tragedy."Karen Brassard, one of the survivors, agrees.

"Once the verdict came, it was like Okay. Now we can start from here and go forward and really feel like it's behind us."For many people, the verdict may close one of the most painful chapters in Boston's history. But to some, closure is still a long way off.

The parents of 8-year old Martin Richards, the youngest victim of the attack, opposed the death penalty, saying that they did not want to re-live their son's death during the years of appeals that are likely to ensue before the death sentence is carried out.

A local resident who witnessed a shootout between the police and the bombers told local TV station WCVB that her life is still not back to normal.

"Very much so. It does haunt me. I do not go out by myself at night. I do not leave this house by myself at night."This is the first time a federal jury has sentenced a terrorist to death since September 11th, 2001.

Xiaohong, CRI, Washington DC.

New Questions Rise over Derailed TrainNew questions are emerging about the deadly derailment of an Amtrak train in Philadelphia. Investigators have revealed the train may have been struck by an object in the moments before it crashed.

Robert Sumwalt from the National Transportation Safety Board quotes an assistant conductor on board as saying that the train's engineer Brandon Bostian talked over the radio with an engineer for a regional railroad just before the crash.

"She also believed that she heard her engineer say something about his train being struck by something. This is her recollection and certainly we are going to be conducting further investigation of this comment."Sumwalt says the conductor told them that the regional engineer, who was in the same area as the Amtrak train, said his train had been hit by a rock or some other projectile, while Bostian replied that the same had happened to his Amtrak train.

Bostian has told investigators that he does not recall the moments leading up to Tuesday night's crash.

The derailment of the Washington-to-New York train killed eight people and injured more than 200.

Currently, five patients remain in intensive care in a Philadelphia hospital.

First Performance by US Orchestra in Cuba since 1999A US Orchestra played to a sold-out theatre in Cuba's capital last night, just months after the two sides announced a thaw in relations.

The concert by the Minnesota Orchestra was held at the National Theatre of Cuba in Havana.

It's believed to be the first performance in Cuba by a full US orchestra since 1999.

Cuban musician Elena Ekai was in the audience.

"It is impressive because no good musicians (from the US) came here, and we could not go there. It is a historic moment, very favourable for us and for them as well."Smaller groups of US classical musicians have visited Cuba in recent years, but a 1999 visit by the Milwaukee Symphony Orchestra is believed to be the last by a major orchestra.

The Minnesota Orchestra once performed in Havana in 1929 and 1930 under the name of the Minneapolis Symphony.

Friday's all-Beethoven programme was a reprise of the orchestra's 1929 repertoire.

Philippine Gov't Urged to Take Responsibility for Factory FireA labor organization in the Philippines is urging the Aquino government to take responsibility for a factory fire that claimed 72 lives earlier this week.

Members of "Kulusang Mayo Uno" or May First Movement organized a gathering on Friday at a morgue that stored the bodies of the victims.

"Right now, we are not hearing any part or any agency of the government taking responsibility. But, on our part, we know who is responsible for this horrible tragedy. Number one is the Aquino government, because it is not protecting the interests of workers."Lito Ustarez, vice chairperson of Kulusang Mayo Uno, blames a lack of work safety measures for the fire that tore through the footwear plant in Manila on Wednesday.

As of yesterday, all the victims have been buried. But the government has yet to initiate the compensation process.

China Central Television reports that most of the workers in the factory earn less than five US dollars per day, which is less than half of the minimum salary of around 11 dollars legally required.

WeatherBeijing will be cloudy tonight with a low of 16, tomorrow it will see thundershowers with a high of 30.

Shanghai, cloudy tonight with a low of 16, same skies tomorrow, highs of 24.

Chongqing will be overcast with a low of 20, slight rain tomorrow and a high of 25.

Elsewhere in the world, staying in Asia,Kathmandu will see some showers with a high of 27,Islamabad, sunny, 46,Kabul, cloudy, 31.

Over in Australia,Sydney will be cloudy with a high of 21,Brisbane will see some showers, 24,And finally Perth will have thundershowers with a high of 18 degrees Celsius.

Headline NewsModi in ShanghaiIndian Prime Minister Narendra Modi met with top Chinese CEOs in Shanghai on Saturday in an attempt to woo Chinese investors to manufacture in India.

The meeting has led to the signing of 21 agreements worth over 22 billion US dollars and involves sectors from steel to solar energy.

Shanghai is the last stop of Modi's three day tour of China.

U.S. Secretary of State John Kerry Meets Wang Yi in BeijingU.S. Secretary of State John Kerry has met with Chinese Foreign Minister Wang Yi in Beijing.

The two sides have sat down to discuss a range of issues including the situation in the South China Sea.

They were also expected to discuss preparations for Chinese President Xi Jinping's US visit scheduled for September, as well as the next round of strategic and economic dialogue between the two countries this summer.

Kerry will visit South Korea tomorrow.

Death toll from May 12 quake climbs to 136 in NepalThe strong aftershock that struck Nepal on Tuesday is now blamed for 136 deaths.

Combined with the initial quake that struck on April 25th, there have been nearly 8,500 deaths.

The number of injured now exceeds 100-thousand.

Morsi Sentenced to DeathAn Egyptian court has sentenced ousted President Mohammed Morsi to death over his part in a mass prison break that took place during the 2011 uprising that toppled Hosni Mubarak.

As is customary in passing capital punishment, Judge Shaaban el-Shami referred his death sentence on Morsi and others to the nation's top Muslim theologian, or mufti, for his non-binding opinion.

He set June 2 for the next hearing.

Morsi, Egypt's first freely elected president, was ousted by the military in July 2013 following days of mass street protests by Egyptians demanding that he be removed because of his divisive policies.

The ousted leader already is serving a 20-year sentence following his conviction on April 21 on charges linked to the killing of protesters outside a Cairo presidential palace in December 2012.

Cambodia to deport fugitive Russian tycoon Polonsky as soon as possible: officialsCambodia is to deport Russian fugitive Sergei Polonsky as soon as possible following his violation of the country's immigration law.

Polonsky was arrested by the Cambodian authorities on Friday afternoon.

The former billionaire is currently being detained at the General Department of Immigration.

The arrest came after the Cambodian Ministry of Foreign Affairs had asked the Ministry of Justice to review repeated requests of extradition from Moscow.

When asked whether the arrest was made at the request of Russia, the Cambodian Interior Minister said even though there is no request, the authorities will still expel him because his visa has expired.

Polonsky was charged in absentia in July 2012 in a criminal case involving the embezzlement of over 175 million U.S. dollars from the participants in an up-market cooperative residential construction project in central Moscow.

Weekly Biz RoundupAnchor:

It's time to take a look back at some of the headlines from the business world this past week in our Weekly Business Review.

China's central bank has announced a new round of interest rate cuts. April's economic data shows growth in the Chinese economy is still sluggish. A new round of talks for the China-Japan-Korea FTA have been held in Seoul. Detailed plans were unveiled to improve broadband speed and reduce fees for Internet services. And a Chinese nuclear giant's IPO was greenlighted by the country's securities regulator.

Let's catch all of that and more with CRI's Wenjie.

Reporter:

China's central bank on Monday announced a new round of interest rates cut, the third time since November last year.

The bank cut the benchmark deposit and loan interest rates by 25 basis points.

After the cut, the one-year deposit rate stands at 2.25 percent, and the one-year lending rate at 5.1 percent.

People's Bank of China researcher Lu Lei says the interest rate cuts should not be interpreted as the Chinese version of quantitative easing.

"Interest rate cut serves as a traditional monetary policy tool. Using the tool means our overall policy is still workable. The outcome of this policy is clear: lowering the financing cost and improving the financial situation of the real economy. As for the saying of Chinese version of quantitative easing, it does not fit the real situation in China, for recent monetary policy in China does not fail to become ineffective."To further boost interest rate liberalization, the central bank also decided to adjust the upper limit of the floating band of deposit rates to 1.5 times the benchmark from the previous 1.3 times.

Zhao Qingming, chief Macroeconomic researcher of China Financial Futures Exchange, says the move can widen the pricing freedom of the financial institutions and improve their independent capacities in fixing prices.

"When for 1.3 times, we have seen some banks first increased deposit rates to the upper limit, then lower the rates. You should say, the competitions among banks are more rational. Even though the central bank widens the floating band once more, I think most banks are more rational and won't raise to the upper limit."The central bank says it will continue to implement prudent monetary policy and make moderate adjustments based on changes in liquidity, inflation and economic situation, striking a policy balance between economic restructuring and growth.

Statistics released on Wednesday by the Chinese government shows economic growth is still sluggish.

New stats show fixed asset investment is up 12-percent through the first 4-months.

This is down from the 13.5-percent growth registered in the first quarter.

Property sector investment is up 6-percent year-on-year, down from the 8.5-percent increase seen in Q1.

Industrial output has improved slightly in April.

Retail sales figures have stayed virtually flat on a month-on-month basis.

On Tuesday, the State Council issued a guideline detailing new goals in the development of foreign trade.

The guideline maps out the country's aim to expand trade relations with more countries and regions as well as to raise the quality and variety of its exports to enhance the country's competitiveness.

It states that China is to export a combination of products, services, technologies and capital by 2020 instead of mainly goods.

It also highlights efforts to enlarge the imports of advanced equipment and products, which could benefit the country's industrial restructuring and upgrading.

Zhang Jianping, senior researcher with the National Development and Reform Commission, says China needs to nurture new growth points in foreign trade.

"China's foreign trade has grown at a slower pace in recent years. This is mainly due to a lack of new growth points. There is too much focus on commodity trade, not enough on service trade. There aren't enough quality exports especially domestic brand products with advanced technology and high added value. The proportion of processing trade is fairly big. And we rely too much on trade with traditional markets, mainly developed economies. We need to conduct more trade with the emerging economies."The State Council is encouraging closer trade ties with countries and regions along the route of the "One Belt, One Road" initiative, with a focus on exports of manufacturing equipment and related services.

The seventh round of talks for the trilateral FTA among China, Japan and South Korea, kicked off on Tuesday.

Three chief negotiators discussed key issues such as the basic guidelines for talks on market liberalization for goods and services.

Wang Shouwen, China's Assistant Minister of Commerce leads the Chinese delegation.

He says the FTA talks has benefits that go beyond the realm of economics.

"A FTA among three countries will serve as an important vehicle that would strengthen our existing relations not only by expanding trade and investment among us but also by providing a comprehensive and institutional framework in which a wide range of trilateral cooperation would involve. A CJK FTA would be regarded as a milestone in regional integration."In 2012, the three countries began their talks for an FTA, aimed at building a free trade zone having a total population of 1.5 billion, a quarter of the world population.

The Ministry of Industry and Information Technology on Friday announced plans to boost Internet speed and cut costs.

By the end of this year, the average broadband speed for users in major municipalities and provincial capitals in China will be increased to 20 megabytes per second from the current 9.

In other urban areas, the average broadband speed will be improved to 10 megabytes per second from the current 7.

More than 1.3 million 4G base stations will be built in urban and rural areas by the year end.

MIIT's deputy minister Shang Bing offers more details on the plans.

"By the end of 2017, optical broadband speeds of 100 megabytes per second (Mbps) will be offered to almost all the urban families. Average broadband speed will reach 30 Mbps in major municipalities and provincial capitals. And average charges for mobile phone Internet and fixed broadband should be sharply decreased by at least 30 percent from the previous year by the year end."In line with the plans, three domestic carries, China Mobile, China Unicom and China Telecom, have each provided cost-cutting plans.

China Mobile is going to unveil twelve fee-reduction measures which will see mobile Internet fees cut by at least 35 percent by the end of this year.

China Unicom will offer free upgrades to the 4G network for 2G and 3G users and cut mobile Internet fees by around 20 percent.

On the corporate front,China's securities regulator on Thursday gave the nod to an initial public offering from China National Nuclear Power Corporation, the country's leading nuclear power developer.

The nuclear giant is planning to issue a maximum of 3.89 billion shares to raise more than 16.25 billion yuan or more than 2.6 billion U.S. dollars through its IPO.

Nearly half of the funds raised will be used to replenish working capital.

The rest will be invested in nuclear power projects in Fujian, Zhejiang and Hainan provinces.

It is expected to be the biggest IPO in China's A-share market in the past four years.

The company filed its first IPO application in 2012.

However, it was suspended due to government concerns about large-cap stock flotation.

Two Chinese property giants, Wanda Group and Vanke Group, signed a strategic cooperation deal on Thursday in Beijing.

Wanda Group is China's biggest commercial real estate conglomerate, and Vanke Group, the largest residential property developer.

The two leading real estate developers will set up a co-funded company and join hands in acquisition of land and joint project development.

The deal is expected to help Vanke's housing business, and boost Wanda's expansion into the real estate market.

And that concludes this edition of the weekly business review. I'm Wenjie. Thank you for listening.

SportsStars Pay Tributes as Liu Bids Farewell at Shanghai Diamond LeagueLondon Olympic champion Aries Merritt and 2013 world champion David Oliver will lead tributes at Chinese 110-meter hurdler Liu Xiang's official retirement ceremony to be at the IAAF Diamond League Shanghai on Sunday.

Also present at the 10-minute ceremony will be the 2011 world champion Jason Richardson, and Ryan Wilson, the silver medalist at 2013 world championships.

Liu Xiang became China's first male Olympic champion in athletics when he won the 110-meter hurdles at the 2004 Games, equaling Briton Colin Jackson's world record of 12.91 seconds.

The 31-year-old announced his retirement in early April.

He is expected to make a short speech at the retirement ceremony and then say goodbye to his fans and the hurdles.

Atlanta Hawks Beat Washington Wizards 94-91 to Win the SeriesIn the NBA Playoffs,The Atlanta Hawks made it to the Eastern Conference finals by edging past the Washington Wizards 94-91 in game six after the referee waved off Paul Pierce's three-pointer at the buzzer on Friday.

It's Atlanta's first trip to a conference final in 45 years.

The team had not won two playoff series in a single year since moving to Atlanta for the 1968-69 season.

Atlanta Hawks forward DeMarre Carroll says 'the credit goes to their fans'.

"It's very big this whole year all the fans that came they really supported us from day one and I think the city really deserved this and they needed this and to me I think we wouldn't be here without our fans they deserve a big, huge shout-out 'cause last game they really got us back in the game we were down by ten so we give most of the credit to the fans, and we'll take secondary credit."Carroll finished with 25 points and 10 rebounds for the Hawks.

Once trailing 2-1 in the best-of-seven series against the Wizards, the Hawks won three straight games.

They will now host LeBron James and the second-seeded Cleveland Cavaliers in Game 1 of the conference finals on Wednesday.

In other action,Stephen Curry had 32 points and Golden State advanced to the Western Conference finals for the first time since 1976 with a 108-95 series-clinching victory on Friday.

The Warriors will next face the winner between the Houston Rockets and the Los Angeles Clippers in the conference finals.

Football Preview: Chinese Super LeagueRound 10 of action in the Chinese Super League continues on Saturday,Five games are on the schedule,Third-placed Beijing Guoan is hosting Liaoning Whowin.

Beijing remains undefeated at home against Liaoning.

A win over Liaoning will move Beijing into a tie with Guangzhou Evergrande for second place in the league standings.

In other action,Guangzhou R&F is playing Shanghai Shenxin.

Hangzhou Greentown is playing Shandong Luneng.

Chongqing Lifan is playing Changchun Yatai.

And it's Henan Jianye taking on Shijiazhuang Ever Bright.

In other football news from English Premier League,Hull City midfielder Jake Livermore has been suspended by the club after it was reported he tested positive for cocaine.

The 25-year-old tested positive after Hull's win at Crystal Palace on April 25.

China Battles through to Sudirman Cup FinalsIn badminton,The favorites, China, came from behind and reached the Sudirman Cup final after a 3-1 win over powerhouse Indonesia in Dongguan on Saturday.

The veteran pair of Caiyun and Fu Haifeng lost their men's doubles matches 16-21, 17-21 to the world No. 3 combination of Mohammad Ahsan and Hendra Setiawan.

An accidental injury to the visiting Bellaetrix Manuputty gave world number one Li Xuerui an easy win in women's singles.

In men's singles, Chinese star Chen Long completed the team victory, beating Christie Jonatan 21-10, 21-15.

In the crucial fourth match, the newly-assembled pair of Yu Yang and Tang Yuanting overcame a first-game slump and upset the world No. 7 Nitya Krishinda Maheswari and Greysia Polii 17-21, 21-17, 21-15.

China have won five Sudirman Cups in a row since 2005.

The defending champions will now play either South Korea or Japan in the finals for their sixth consecutive title.

Sharapova Beats Azarenka 6-3, 6-2 to Reach Italian Open SemisIn tennis,Maria Sharapova defeated longtime rival Victoria Azarenka 6-3, 6-4 on Friday to reach the Italian Open semi-finals.

The Russian dazzled Azarenka with some deft drop shots throughout the match.

Sharapova also served up five aces as she won in one hour and 32 minutes.

Awaiting Sharapova in the semifinals will be Daria Gavrilova, who won an all-qualifier, all-WTA Rising Star battle against Christina McHale 6-2, 6-4.

Carla Suarez Navarro advanced to the semi-finals with 6-3, 6-2 win over Petra Kvitova.

The Spanish 10th seed will play Simona Halep for a chance to reach the final.

On the men's side,Rafael Nadal has lost on clay for the fifth time this season. Stan Wawrinka defeated him 7-6, 6-2 in the quarterfinals.

It was the first meeting between the two players since the 2014 Australian Open final when Wawrinka clinched his first Grand Slam title.

Wawrinka will next face compatriot and former world number one Roger Federer in the semi-final.

EntertainmentDavid Lynch returns to Twin Peaks revivalA month after David Lynch pulled out of Showtime's Twin Peaks revival, the director and network confirmed on Friday that Lynch is back for good.

It's also been revealed that the Twin Peaks revival will be bigger than first announced.

"Twin Peaks" ran on ABC and was canceled after just 2 seasons because ratings for the second season failed to match those for the debut season.

Creators David Lynch and Mark Frost were slowly pushed out of their own show.

Lynch cited an insufficient budget for departing the revival.

Interviews with longtime friends of BB King in his hometown before his deathBlues legend B.B. King never abandoned his Mississippi roots, even as he made millions of dollars and gained international fame.

For more than three decades, he hosted and played at the B.B. King Homecoming, a summer music festival in Indianola, the small town where he spent most of his teenage years.

His longtime friend Carver Randle says King was never ashamed to tell people where he was from.

"I have never heard B.B. say that he was from anywhere other than Indianola and the Delta area, as a lot of entertainers have done, they denied where they're from because they were ashamed of it. B.B. has never been ashamed to say he was from Indianola. So, that stands out in my mind in letting me know the humility of the man."King died this week, at his home in Las Vegas. Organizers of the annual homecoming have not said what this means for the future of the concert.

The Edge Assures U2 Fans He's 'OK' After Falling Off StageU2's hotly anticipated The iNNOCENCE+ eXPERIENCE Tour kicked off in Vancouver last night.

Although fans and critics are raving about the show, it didn't go off entirely without a hitch.

The Edge lived up to his name at one point during the evening, walking along the edge of the stage and accidentally falling off it.

Despite the drop, U2 continued the concert without much fuss.

Later, on the band's Instagram, The Edge assured fans he was doing alright.

Hou Hsiao-Hsien's "The Assassin" releases a trailerTaiwan director Hou Hsiao-Hsien's "The Assassin" which debuts at the ongoing Cannes film festival releases its first trailer today.

Based on a short story, the film stars Shu Qi as a female assassin during the Tang Dynasty who begins to question her loyalties when she falls in love with one of her targets.

The movie was 7 years in the making and finally began filming in 2012.

Hou Hsiao-Hsien's "The Assassin" and Jia Zhangke's "Mountains May Depart" are among the films in competition for the Palme d'Or, the top award at Cannes.

Hou Hsiao-Hsien is a leader of Taiwan's New Wave cinema movement. His movies have been nominated six times for the Palme d'Or, but he has never won.

However in 1993, he picked up the Cannes Jury Prize for In The Hands Of A Puppet Master.

Woody Allen's Irrational Man screened at CannesThe latest film by U.S. director Woody Allen, Irrational Man, was screened Friday at the ongoing 68th Cannes Film Festival.

In the movie, philosophy professor Abe Lucas is at rock bottom emotionally, unable to find any meaning or joy in life as he begnis teach at a countryside university. Abe makes a profound choice after overhearing a conversation in a diner, and he is able to embrace life to the fullest once again.

The film stars Jamie Blackley, Joaquin Phoenix, Parker Posey and Emma Stone.

Allen has presented 12 films Out of Competition at the Festival since Manhattan in 1979.

The last time he came to the festival, in 2011, his movie Midnight in Paris was the opening film.

The new film is scheduled to be released on July 17.

WeatherBeijing will be cloudy tonight with a low of 16, tomorrow it will see thundershowers with a high of 30.

Shanghai, cloudy tonight with a low of 16, same skies tomorrow, highs of 24.

Chongqing will be overcast with a low of 20, slight rain tomorrow and a high of 25.

Elsewhere in the world, staying in Asia,Kathmandu will see some showers with a high of 27,Islamabad, sunny, 46,Kabul, cloudy, 31.

Over in Australia,Sydney will be cloudy with a high of 21,Brisbane will see some showers, 24,And finally Perth will have thundershowers with a high of 18 degrees Celsius.

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

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

India's Prime Minister overseas the signing of billions of US dollars worth of deals during his stop in Shanghai...

Chinese and Vietnamese defense chiefs have held meetings to discuss a range of military issues, including disputes in the South China Sea...

In the US, a jury has sentenced the surviving Boston Marathon bomber to death by lethal injection...

In our BIZ roundup, interest rates in China are cut once again, while economic data continues to show weakness...

On behalf of the Beijing Hour staffers, this is Shane Bigham in Beijing hoping you'll join us for the next edition of the Beijing Hour, and open a window to the world together.