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

Coming up on our program this morning...

The Chinese president leaves today for two international summits being held in Russia...

Activities have been held marking the anniversary of the July 7th Incident, the start of China's eight-year struggle against Japanese invaders...

Emergency meetings in Brussels over the Greek debt crisis fail to produce a new bailout program...

In Business...Chinese stocks continue to lose despite government support...

In Sports...a Chinese football star has returned to the team that recently sold his contract to another club...

In entertainment...the Chinese artist known as the "Queen of Drama" has died...

Top NewsChina, Russia set to further advance cooperationAnchorChinese President Xi Jinping is leaving today for two international summits in Russia's Ufa.

For more details, here in CRI's Yu Yang.

ReporterChinese President Xi Jinping is set to attend the 7th BRICS summit scheduled for Wednesday and Thursday and 15th meeting of the Council of Shanghai Cooperation Organization Heads of State for Thursday and Friday in Ufa, Russia.

President Xi and his Russian counterpart Vladimir Putin will discuss coordinating the two countries' plans to increase regional trade and infrastructure, bilateral cooperation within multilateral frameworks including the BRICS and SCO, and coordination and cooperation on global and regional issues.

Xie Ping, a Russian journalist working in China, says this will definitely enhance Sino-Russian relations in many important areas.

"There are gonna be a lot of documents to be signed staring from investment, economic cooperation to political field, everything. In the current Sino-Russian relations, what matters a lot is joining the two projects of the Economic Belt and Silk Road and the Rurasian Economic Union. As the leaders of our two countries have said, SCO would be the basis of integrating these two huge projects."Broadening the membership of the SCO is also one important topic to be discussed during the upcoming summit.

Leaders of the SCO will make a political decision on India and Pakistan's accession to the organization.

Xie Ping says India and Pakistan's admission to the SCO would play an important role in the SCO's development.

"The big thing would be broadening the membership of the organization. As we know, it is expected that on this upcoming SCO summit, India and Pakistan would join in the organization. And when we talk about India and Pakistan, we are talking about 1.5 billion people, two huge economies, two serious economies, two major players in the region."As for BRICS, Xie Ping says BRICS is working to find a basket of currencies to stabilize the world economy.

"The most important thing about BRICS right now is creating the alternative to the dollar-based global economy. We are trying to find the basket of currencies to serve the world economy. BRICS is going to sign some agreements on currency exchanges. What BRICS is trying to do right now is to try to stabilize the global economy and try to be less independent on one currency."Xie Ping adds that investment cooperation is playing an increasingly important role in Sino-Russian ties.

"Nowadays the economic cooperation between China and Russia is changing really quick. China is investing a lot in Russia. The latest and most famous project is building the high-speed railway back in Russia, which will make inter people exchanges faster and more convenient. When we talk about investment cooperation, what matters a lot actually is the mutual trust. To enhance that mutual trust, we are holding a lot of cultural projects."It's the third time that President Xi will attend the BRICS summit.

During his stay there, President Xi Jinping will have a bilateral meeting with President Putin.

It's the second meeting between the two heads of state this year and the fifth over the past two years.

For CRI, I'm Yu Yang.

Summit Host City Ready for Global DebutAnchorIn the host city of Ufa, preparations for the two summits have entered the final stage and the city is ready for its global debut.

CRI's Tu Yun reports.

ReporterStarting Wednesday, Ufa, the capital of the Russian Republic of Bashkir, will receive top leaders from across the world, including Chinese President Xi Jinping.

Located southwest of the Ural Mountain Range, Ufa is one of Russia's industrial centers and a key transportation hub.

This is the first time for the city to host two major international events back to back.

Rustem Zakievich Khamitov, President of Bashkir, is looking forward to the opening of the summits.

"Preparations began three years ago after President Vladimir Putin designated Ufa as the host city. Today's Ufa is a beautiful, modern city and it will become much better in the future. Hosting the events brings both honor and responsibility. The city will be the focus of the world in coming days."Khamitov says cooperation with China is a priority in Bashkir's foreign policies and that China's experience in dealing with development problems is helpful for his state.

"Bashkir sees cooperation with China an opportunity for its development. We have established a cooperation project with Chinese regions in the middle and upper reaches of Yangtze River, while collaboration with Jiangxi and Sichuan provinces and Chongqing municipality has seen great progress. We will also encourage our enterprise to set up more cooperation in China's agriculture, construction, tourism and retail sectors."During the summits, a total of 10,000 people are expected to swarm into the city that has a population of one million.

Security checkpoints have already been set up on roads leading to the summit venue.

Some 400 residents, most of them college students, will be working as volunteers.

In the following days, the city will witness the signing of important deals and agreements, and local residents hope their city can become famous internationally through hosting the summits.

For CRI, I'm Tu Yun.

Activities to Commemorate the July 7 Incident Held across ChinaAnchorAhead of his visit to Russia, the Chinese President attended an exhibition in Beijing to mark the 78th anniversary of the July 7th Incident, the start of the country's eight-year resistance against the Japanese invasion.

Other activities have also been held across the country to mark the day.

CRI's Qi Zhi has details.

ReporterTop Chinese leaders, including President Xi Jinping and Premier Li Keqiang, have visited the exhibition, entitled "Great Victories and Historic Contributions."Xi Jinping says the exhibition is a reminder of the great history that all Chinese people should keep in mind.

"The spirit of the war against Japanese aggression and the spirit of the nation are still needed nowadays as we are realizing the Two Centenary Goals as well as the Chinese nation's great rejuvenation, during the period of reform and opening up. We should also keep the history in mind in order to create the future. We cannot forget it. Forgetting the past means betrayal. I believe that people can learn this through the exhibition."The event was held at the Museum of the War of Chinese People's Resistance against Japanese Aggression near Lugou Bridge, also known as Marco Polo Bridge, in the southwest of Beijing.

It covers the history of the Chinese people's fight against Japan's aggression in the 14 years from 1931 to 1945.

A total of over 1,000 pictures and more than 2,800 war relics are on display.

It is part of the country's events in the run up to the 70th anniversary of the victory over Japan and the victory of WWII.

Meanwhile, in the eastern city of Nanjing where Japanese troops massacred at least 300,000 Chinese people in 1937, a group of college students visited several war veterans.

"We are planning to collate the records of the veterans' stories and memories. We're doing this as a salute to both the veterans and our country."In Shandong Province to the north, armed police officers, soldiers and students presented flowers at a memorial hall in Zaozhuang City to remember those who died in the Taierzhuang Battle, the first major victory for the Chinese army during the war.

More than 30,000 Chinese soldiers died in the battle, but only 4,000 of them have been identified.

In Hong Kong, a number of organizations staged a march to urge the Japanese government to face up to its past military history.

Organizers urged Japan to take responsibility for its aggression and halt its current alarming military expansion.

An estimated 35 million Chinese soldiers and civilians lost their lives during the War of Resistance against Japanese Aggression,For CRI, this is Qi Zhi.

Japanese Veteran Slams Politicians for Denying Aggression HistoryAnchorNakajima Goro is a Japanese veteran who has criticized current Japanese politicians for not facing up to the country's past aggression against China.

As CRI's Niu Honglin reports, the 90-year-old veteran is also making an effort to educate his fellow Japanese citizens about this troubled chapter of history, allowing younger generations to reflect on the war.

ReporterNakajima Goro was only 12 years old when the July 7 Incident happened in 1937, but he and his friends took it for granted that they should fight for the Emperor in the future, because they were taught so since they were very little.

"The system Japan used to manipulate its people centered on the Emperor, and was guided by strong outward expansion with 'prosperous country with a powerful army' as a slogan. Japan was actively building its military forces in order to expand its power. Since Japan itself has few resources, it wanted to invade China. We were growing up under such militaristic education..."He joined in the Japanese army in March 1945, and participated in the looting in east China's Shandong Province.

"The locals ran away as soon as we started looting the village, without even one person left. We could only grab the cattle and rice, something edible like that. We were not aware of the bad deeds we were doing. We did everything the leaders ordered, just like robots."Nakajima was seriously wounded in a fight with the Eighth Route Army. He thought he was going to die, but medical staff with the Eighth saved his life.

He returned to Japan in September 1946, and has been living a normal life since then.

However, he could not forget the experience in China, and felt concerned about the current leadership in Japan not apologizing for the aggression, and not being able to face up to the facts.

"Most Japanese soldiers who joined the war of aggression against China, just like me, mentioned nothing of what they had done because they had done really bad things to China. However, some politicians like Shinzo Abe knew the atrocity Japanese troops did in the war, but put up an innocent face, saying something like it was nonsense like 'talking that equals humiliating ourselves' about Japan's wrongdoing in the past."Nakajima Goro started to deliver speeches about the aggression at the age of 80 to let more Japanese people know the history and reflect on the war.

For CRI, I am Niu Honglin.

China US to Change 2nd Negative ListChina and the United States will exchange a second round of negative lists soon, regarding a bilateral investment treaty currently under negotiation.

Shen Danyang, the spokesman of China's Ministry of Commerce, made the revelation Tuesday in Beijing.

Shen says the two sides agreed on the exchange of negative list offers in early September.

Chinese President Xi Jinping is also scheduled to pay a state visit to the US in that month.

The investment treaty talks began in 2008 as China and the U.S. sought to increase mutual investment.

The negative lists exchange is a key step in the negotiations.

China rebuffs Japan's protest on gas development in East China SeaChina has rebuffed Japan's protests to China's gas development in the East China Sea, and reiterated its sovereignty in the area.

Foreign Ministry spokesperson Hua Chunying says the operation area is under undisputed Chinese administration.

The remark comes after Japan's Chief Cabinet Secretary Yoshihide Suga said that China is constructing gas field development facilities near the central line between the two countries in the East China Sea, and urged the construction to stop.

China has refuted that such protest is unreasonable.

China braces for two typhoonsRainstorms and gales are expected in the next three days in southeast China as two typhoons are forecast to make landfall.

Typhoon Linfa is forecast to land on the coast of Fujian and Guangdong provinces tonight and Typhoon Chan-Hom is expected to make landfall in Fujian and Zhejiang provinces late on Friday.

Gao Shuanzhu, a premier forecaster of the National Meteorological Center, suggests people should be more watchful of typhoon Chan-hom.

"Typhoon Chan-hom is expected to have more severe impact as it has gathered stronger power and may make a direct landfall. During its landfall, the whole coastal areas of southeast China will be affected. Gales of up to the Beaufort scale and heavy rainstorms will come along with it."Emergency response has been initiated in the province of Fujian, where nearly 10,000 people have evacuated homes because of the incoming storms.

Fishing activities and ferry services on two routes linking Fujian and Taiwan are also suspended.

EU waits for new Greek bailout proposalAnchorEmergency meetings in Brussels about how to keep Greece in the euro have ended without a deal - but with a new date - Sunday - for all EU heads of state to convene for a final summit.

Eurozone leaders have discussed a proposal from Greek Prime Minister Alexis Tsipras to negotiate a third bailout deal that includes debt relief and the immediate promise of emergency aid.

But finance ministers of the single currency bloc are still awaiting a firm request for a new financial assistance program from Athens following a rejection of austerity measures in Greece's referendum on Sunday.

Our Europe correspondent Sandra Gathmann reports from Brussels.

ReporterA new face in the room, but no new proposal… Eurozone creditors had hoped for answers from Greece's newly appointed finance minister carrying the result of Sunday's referendum on his shoulders… an overwhelming rejection of austerity measures from the Greek people.

But Euclid Tsakalotos quickly found himself isolated after showing up without a working document.

To the disappointment of eurozone chiefs and Eurogroup President Jeroen Dijsselbloem who've demanded a firm request by Wednesday.

"The first step will be that the Greek government will send the Eurogroup a new request, a new request letter for ESM (European Stability Mechanism) support and as soon as that comes in, hopefully already tomorrow morning, we will have another conference call from the Eurogroup to formally start the process of dealing with this request. All of this has to be done in a matter of days, we have very little time as you are all aware."One man acutely aware of time pressure is Greece's Prime Minister Alexis Tsipras who strolled into a separate Eurozone leaders summit armed with a fresh request for immediate aid from his eurozone partners before discussing a long term financial program.

There are doubts though that a quick rescue package can be cobbled together before Greek banks collapse in the next several days… The European Central Bank has turned up the heat by raising haircuts on the little collateral Greek lenders have left while freezing emergency liquidity. Anthony Baert is an Economist at ING Bank.

For one government bond Greek banks can have less liquidity than before…actually it boils down to a certain tightening… but the ECB is facing a very tough choice, on the one hand it doesn't want to be accused of posing political pressure but it has to stick to the rules of emergency liquidity assistance.

US President Obama hasn't shied away from piling the political pressure - placing phone calls to the German and Greek leaders on Tuesday, urging both sides to come to a quick agreement.

Eurozone leaders will continue meeting this week in a final push to see whether there is hope for a compromise. The stakes have never been higher for either side - though the Greek economy and the euro's integrity have in many ways already been bruised.

For CRI, this Sandra Gathmann in Brussels.

Iran nuclear talks to continue past deadlineIran and six major world powers are continuing negotiations in Vienna, past a previously set deadline, on a long-term nuclear agreement as they tackle the most contentious issues.

Chinese Foreign Minister Wang Yi says all sides are working hard to resolve the remaining six or seven issues.

"The most important progress is that, under the push of the foreign ministers' meetings, both sides of the negotiation have put forward a package of thoughts and plans concerning the remaining issues. This paves the way for final negotiation on substantive issues including the wording of the deal."European Union's foreign policy chief Federica Mogherini, who is chairing the talks, has hinted the negotiations will not be extended to another round.

"We are continuing to negotiate for the next couple of days. This does not mean we are extending our deadline. I told you, one week ago more or less, we are interpreting in a flexible way our deadline, which means that we are taking the time, the days we still need, to finalize the agreement, which is something that is still possible even if now we are getting into the difficult time. We are not closing the window and then opening another window at another time. We are using the time now."The comprehensive deal under discussion is aimed at curbing Tehran's most sensitive nuclear work for a decade or more, in exchange for relief from economic sanctions.

The negotiators had initially given themselves an extra week when they missed a June 30 deadline for a final agreement, but a push in recent days has not been enough to hammer out the deal.

Major sticking points are said to include the duration of limits on Iran's nuclear research and development, guidelines for international inspections and how sanctions will be lifted.

Tehran is also demanding that the UN ban on the import and export of conventional arms and ballistic missiles be lifted as part of any deal.

The United States had wanted an agreement finalized by Wednesday at the latest so that it could be submitted to Congress for approval by Thursday.

If a deal is presented later, the congressional review period will double from 30 days to 60.

London Remembers 7/7 Bombings Ten Years OnAnchorTen years after the 7/7 bombings shook London, survivors and citizens have come together at various events across the capital to remember those who lost their lives in the most devastating terrorist attack to happen on British home soil.

CRI's London Correspondent Duan Xuelian has more.

ReporterThe day's commemoration programme started with Prime Minister David Cameron and Mayor of London Boris Johnson laying wreaths in Hyde Park. Fifty two steel pillars erected in the park each represent a life that was lost in the series of bombings across London on July 7, 2005.

Here's the Prime Minister commenting on the importance of remembering:

"Ten years on, this is one of those days when everybody remembers exactly where they were when they heard the news. And it's a day when we recall the incredible resolve and resolution of Londoners and of the United Kingdom, a day when we remember the threat we still face. But above all it's a day when we think of the grace and the dignity of the victims' families for all they've been through. And we honor the memory of those victims and all those that were lost ten years ago today. "During the morning rush on July 7 ten years ago, three explosions took place on the London Underground near Russell Square, Edgware Road and Aldgate, followed by another explosion on a double-decker bus in Tavistock Square about an hour later. Fifty-two civilians died in the explosions and more than 700 were injured. London's whole transport system was forced to a standstill.

Police investigation later found out the four suicide bombers were connected to al-Qaeda in Pakistan and Afghanistan. Ten years after the terrorist attack, security experts believe London is no safer and urge the general public to be vigilant while trying to carry on life as normal.

Michael Clarke is from an independent think tank specializing in defense and security.

"A lot of efforts has been put into monitoring and checking and looking what's up on the internet. Now police are taking down 1,000 internet postings a week, 50,000 a year, and that's about five times more than it was even two years ago. So there's an awful lot to do. But, we must always remember that what the terrorists are trying to do is to make us into an illiberal society so we got to carry on, we got to just remain an open society, we got to be confident, these attacks will tend to happen in the way that train crashes happen or in the way the coaches crashes happen, we have to accept that and make sure that we carry on with our lives as normal. "The UK's terror threat level was raised from "substantial" to "severe" in August last year following the escalating conflicts in Iraq and Syria.

To mark the 10th year anniversary of the terrorist attack, a one-minute silence was observed across the country at 11:30 am on Tuesday.

For CRI, I'm Duan Xuelian in LondonObama meets with Vietnamese leader to expand ties between former foesU.S. President Barack Obama held talks with the head of the ruling Communist Party of Vietnam, Nguyen Phu Trong, at the White House.

Trong's visit comes 40 years after the end of the Vietnam War and 20 years since Washington and Hanoi resumed diplomatic ties.

Obama has hailed the US-Vietnam ties as a constructive relationship based on mutual respect.

For his part, Trong noted the importance of the two countries having transformed from former enemies to comprehensive partners.

The two leaders touched upon the Trans-Pacific Partnership in their meeting and discussed such issues as human rights and freedom of religion.

30 Dead in Suspected Boko Haram AttackAround 30 people were killed when a bomb blast ripped through a packed government office in Zaria, northern Nigeria, on Tuesday.

It is a suspected suicide attack by a teenage bomber likely to be blamed on Boko Haram.

The explosion occurred in an area where hundreds of workers had turned up for verification of their service records.

The country's emergency body has also confirmed that the number of people killed in Sunday's twin bomb blasts in Nigeria's city of Jos has risen from 44 to 51.

FIFA bans former World Cup evaluation committee headFIFA has delivered a seven-year ban to its former head of the bid evaluation committee for the 2018 and 2022 World Cups for confidentiality breaches.

FIFA has banned Mayne Nicholls from taking part in all kinds of football-related activity for seven years.

No further datails have been revealed.

Former Chilean FA president Mayne Nicholls gave Qatar, the worst ranking of the candidates, to vote that allowed them to win the bid for the 2022 World Cup.

It's been confirmed that Mayne Nicholls will appeal the suspension.

WeatherBeijing will be cloudy with a high of 34 degrees Celsius.

Overnight temperatures should drop down to 22.

Shanghai will see slight rain with a high of 26 and a low of 23.

In Chongqing, it will be sunny during the daytime with a high of 34 and lows of 23.

Elsewhere in the world, staying here in Asia,Kathmandu, slight rain, 29.

Islamabad will have slight rain with a high of 33.

Kabul will be cloudy with a high of 32.

Over to North America,New York will see slight rain with a high of 30 degrees.

Washington, overcast with a high of 34 degrees.

Honolulu, cloudy, 28.

Toronto will be overcast with a high of 22 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 16.

And Rio de Janeiro will see slight rain with a high of 25 degrees Celsius.

Headline newsBeijing Reiterates Opposition to Arbitration over S. China SeaBeijing has reiterated its opposition to the arbitration case brought up by the Philippines against China in the South China Sea dispute.

A Foreign Ministry spokesperson says China opposes any actions by the Philippines to bring up and push forward the arbitration process.

Earlier, Chinese ambassador to Manila Zhao Jianhua urged the resumption of a bilateral negotiation over the dispute.

Zhao also denounced criticisms that China is militarizing the waters.

The Philippines filed the arbitration case to a UN tribunal in the Hague in early 2013.

Mainland Delivers Medical Assistance for Taiwan Blaze VictimsThe first batch of medical relief materials, provided by the Chinese mainland to treat the victims of the Taiwan water park blaze, has arrived in the island.

The supplies include nearly 1,300 boxes of dressings urgently needed by hospitals.

Several other consignments will follow.

So far three victims of the tragedy have died and 230 remain in critical condition.

China, Russia vow to boost cooperation in sci-tech innovationChina says it wants to strengthen cooperation with Russia to improve both countries' competitiveness in the field of scientific and technological innovation.

Vice Premier Wang Yang made the remarks at the International Industrial Trade Fair held in the Russian city of Yekaterinburg.

He says bilateral cooperation will focus on exploring the best of China's industrial, capital and market advantages and of Russia's edges in technology and talent.

The International Industrial Trade Fair is an annual event held in Yekaterinburg since 2010.

China is the Guest of Honor this year and has sent delegates from more than 130 Chinese businesses.

EU to hold full summit on GreeceThe eurozone has given Greece until Thursday to present new proposals to secure a deal with its international creditors.

The decision was made at an emergency eurozone leaders' summit in Brussels.

A full EU summit has been called for Sunday to discuss the Greek debt crisis.

The new Greek proposals will be discussed by eurozone finance ministers on Saturday.

The eurozone had expected Greece to submit fresh plans on Tuesday after its voters rejected a deal in a referendum, but no new proposals were tabled.

Two people killed in collision of U.S. Air Force F-16 jet, civilian planeAn F-16 fighter jet of the U.S. Air Force has collided with a civilian plane in the state of South Carolina, leaving two people dead.

The two victims were aboard the civilian plane, a Cessna light aircraft which was destroyed after the collision.

The pilot of the F-16 ejected safely.

A team of investigators has been formed to look into the cause of the collision.

Biz reportsLatest Stock Number from North America and EuropeAnchorFirst, a quick check on the closing numbers across North America and Europe, our reporter Min Rui.

ReporterU.S. stocks pared early losses to end mildly higher Tuesday, as investors were assessing the impacts of the unfolding Greek debt crisis.

The Dow Jones added half a percent.

The S&P 500 gained 0.6 percent.

The Nasdaq edged up a fraction of a percent.

On the economic front, according to the U.S. Commerce Department, the goods and services deficit of the United States was 42 billion U.S. dollars in May, an increase of 1.2 billion dollars from April's revised level.

In Europe, shares continued to drop amid the Greek debt concern.

British FTSE 100 lost 1.6 percent.

Germany's benchmark DAX decreased nearly 2 percent.

The French CAC 40 plummeted 2.3 percent.

China stocks in negative territory despite government supportChinese shares fell into negative territory on Tuesday after Monday's uptick.

A total of 750 of the roughly 2,800 companies listed in Shanghai and Shenzhen had filed for a trading halt by the close on Tuesday to avoid further losses.

On Tuesday's trading, losers outnumbered winners.

More than 1,700 shares on the two bourses dived by the daily limit of 10 percent.

Shares fell across the board in most industries, with utilities, steel and Internet finance leading the losses.

The benchmark Shanghai Composite Index edged down 1.3 percent. The Shenzhen Component Index slumped 5.8 percent.

Li Xiaolin takes deputy's role at DatangLi Xiaolin, the former deputy general manager of China Power Investment Corporation, has been appointed deputy general manager of China Datang Corporation.

Datang is solely state-owned and one of the five large-scale power generation enterprises in China.

It owns the largest coal-fired power station in China.

The newly-announced appointment comes after the merger of China Power Investment Corporation and the State Nuclear Power Technology Corporation.

China Central Bank Approves $ 8.1 bln MBS SaleAnchorChina's central bank has given China Construction Bank the right to sell 50 billion yuan, or 8 billion U.S. dollars, of mortgage-backed securities.

China Construction Bank is the first financial institution to be granted the right to sell MBS after a new registration system for credit asset securitization was adopted in April.

Under the new system, qualified issuers will only be required to register transactions before issuance, as opposed to the previous system where regulators approved transactions on a deal-by-deal basis.

China only issued three batches of MBS from 2005 to 2014.

In 2005, China Construction Bank issued the first MBS in the country for 3 billion yuan.

For more on this, CRI's Spencer Musick earlier spoke with Liu Baocheng, Professor at University of International Business and Economics.

Back anchor:

That was Liu Baocheng, Professor at University of International Business and Economics, speaking with CRI's Spencer Musick.

3 new FTZs attract US$3.6b in overseas investmentsChina's newly established free trade zones in Guangdong, Tianjin and Fujian have shown promise in attracting overseas investment.

Statistics from the Ministry of Commerce show at the end of May, the three zones had received 23 billion yuan, or US$3.6 billion, in overseas investment.

Front runner Tianjin drew 11.7 billion yuan, accounting for nearly 70 percent of the total in the zone's respective region.

Set up in April, the three FTZs began operation 18 months after the first FTZ began in Shanghai to test reform policies and integrate the economy with global practices.

Chinese investment in Europe surgingChina's non-financial investment in the European Union hit 4.2 billion U.S. dollars in the first five months of the year.

The Ministry of Commerce says the number more than tripled the amount of last year.

The figures suggest China's investment in Europe has entered a period of rapid growth.

The rise is due to Chinese companies' increasing investment projects in Europe, such as the stake acquisition of Italian tire maker Pirelli by China's state-owned National Chemical Corp.

At the same time, Chinese investment in Europe is also broadening to areas including machinery, autos, real estate, shipping, telecommunications, energy, and finance.

During his visit to Europe last week, Chinese Premier Li Keqiang proposed China and the EU make full use of a currency-swap scheme worth more than 700 billion yuan to facilitate bilateral economic and trade cooperation.

Geely invests $45.5m in methanol plantGeely, which owns Volvo, is to expand its methanol vehicle operations by investing 45.5 million U.S. dollars in a methanol plant in Iceland.

Media reports say the plant, named Carbon Recycling International, will become the first methanol plant in Iceland.

Under the deal, Geely will make an initial payment with additional purchases of Carbon Recycling International's equity over a three-year period.

The company says this will help speed up the development of methanol-powered vehicles in China.

The company has already deployed pilot fleets of methanol-fueled taxis in two Chinese provinces, and Shanghai.

SportsSun Ke stays with Jiangsu ShuntianThe latest news from the Chinese Super League starts us off this morning,Tianjin Teda has released its latest signing Sun Ke. Sun is now back at Jiangsu Shuntian and has renewed his contract until the end of next year.

Shuntian's deputy manager Zheng Ming said Sun is temporarily staying with the old club and can still join Teda after all things are settled.

Sun thanked both sides for the efforts to put him back on the field.

"Everyone wanted to seal this transfer deal from the very beginning. But some unexpected twists caused problems. Not being able to train and play has an emotional and physical impact on me as a player. I am now grateful for both Jiangsu Shuntian and Quanjian for allowing me to return to action."Tianjin Teda's sponsor Quanjian signed Sun Ke with a record 66 million yuan last month. But the team refused to enroll Sun and did not register him at the football association after the transfer.

Sun did not play a single game for Tianjin Teda.

Quanjian has withdrawn its sponsorship with Teda and acquired first league team Tianjin Songjiang.

Guizhou Renhe reaches quarter-finals of CFA CupMore football action,Chinese Super League's Guizhou Renhe beat First League team Jiangxi Liansheng 3-2 to reach the quarter-finals of the CFA Cup.

The CFA Cup action continues tonight when Chinese Super League leader Beijing Guo'an takes on First League's Beijing Beikong in a city derby.

The winner between these teams will face Guizhou Renhe in the last eight.

Djokovic beats Anderson to reach quarter-finalsAnchorNow let's catch up with the latest tennis action from the Wimbledon with our reporter fu yu.

ReporterNovak Djokovic has turned the table on Kevin Anderson and won the last set after returning to the match that had been suspended the night before after it got dark.

Djokovic came from two sets down to reach the quarter-finals.

He says it was a very difficult match, right from the first to the last set.

"When I was serving for the match, I had to come back from love-30. So all in all, until the last moment, until the last point, I didn't know if I was going to win or not. I was just trying to be very active and come with the right intensity. That's all I could influence. That's all I could focus on. Because he was playing on such a high level, I could just hope that I going to have some opportunities, which I had."Djokovic will next face Marin Cilic.

In women's singles,Maria Sharapova is in the semi-finals after beating Coco Vandeweghe in three sets.

Sharapova had some struggles but is happy she came through.

"You look back and as much as you want to be a perfectionist, you have to be a realist as well. If you look at Grand Slam champions, you look at their draws, matches, results, everyone comes from a few challenges, being down in matches. There's no easy road to victory. You're going to have your bumps. That's the way I see it. Today could have been a match in two sets. I made it more difficult for myself, but I'm still here, so..."Serena Williams, Agnieszka Radwanska, and Garbine Muguruza complete the women's last four.

Cycling recapIn cycling,Etixx-QuickStep's Tony Martin soloed to victory in stage four of the Tour de France in Cambrai and took the yellow jersey.

Martin attacked with 2.5 kilometers remaining of the grueling stage that featured seven cobbled sections. He held on to the advantage to finish three seconds clear of a chasing group of main favorites.

Today's stage five passes through the battle fields of Somme and will likely come to a sprint in Amiens.

Over in China,Ukraine's Oleksandr Polivoda from the Kolss BDC Team has won stage three at the Tour of Qinghai Lake.

Polivoda grabbed the yellow jersey from Marko Kump who won the first two stages.

Kump kept his green jersey as leader of the points classification.

Floyd Mayweather stripped of WBO belt, receives challengeIn boxing,Floyd Mayweather has been stripped of the WBO welterweight title he won against Manny Pacquiao after the former failed to submit a sanctioning fee.

Mayweather won what was billed as the "fight of the century" by unanimous decision in May and earned over 200 million US dollars.

But he missed the deadline by which he had to pay a 200 thousand dollar bill relating to rules on holding multiple belts.

He has two weeks to appeal.

Timothy Bradley is now the welterweight belt holder after winning an interim fight last month.

The unbeaten Mayweather has received a bizarre challenge from former Australian rugby player Anthony Mundine.

Mundine was the highest paid player in rugby before he switched to the ring.

It remains to be seen if Mayweather will accept the challenge.

EntertainmentChina's "Queen of Drama"-Zhu Lin Dies at 92Chinese performing artist Zhu Lin has died.

She was 92.

Hailed as China's "Queen of Drama", Zhu joined Beijing People's Art Theatre in 1952 and has played many classic stage images, including Lu Shiping in "Thunderstorm", and Cai Wenji in the namesake play.

According to her will, no memorial activities will be held.

Singer David Tao admits extramarital relationship in press conferenceMandopop singer and song-writer David Tao has admitted he has cheated on his wife.

Tao explained his affair with Yang Ziqing during a press conference:

"I met Ms. Yang in 2010 and we had a relationship. After I got married, we just texted each other sometimes. And only we met once. We met in Chengdu on June 19, which is the main reason behind my infidelity."The singer apologized to his wife-Penny and his family for his wrongdoing and thanked them for forgiving him.

Tao is a Golden Melody Award-winner and is well known for creating a crossover genre of R&B and hard rock tunes which has now become his signature style and for having popularized R&B in the Mandopop industry.

David Tao and his wife Penny Jiang got married in July last year.

Cast of 'Ant-Man' attend press conference ahead of the European premiereThe cast of Marvel's latest offering, "Ant-Man," has attended a press conference in London, ahead of the movie's European premiere.

Star Paul Rudd and co-stars Michael Douglas, Michael Pena and director Peyton Reed chat about everything from the movie itself, to what kind of insect they'd be.

Rudd says making the film has made him more appreciative of bugs.

"I'm not trying to sound cute or anything, but even last week I was standing by the sink and some ants started walking towards the coffee maker - I was making coffee. And maybe, in an earlier time, I would have just given them a little flick, now I absolutely let them do what they want to do and I stand back."The 46-year-old actor, who also co-wrote the film's screenplay, plays Scott, a conman who is recruited by scientist Hank Pym, to get involved in the ultimate heist.

"Ant-Man" opens July 18 in the U.S and UK.

Harry Shearer returning to 'The Simpsons' after contract disputeHarry Shearer and his many voices are returning to "The Simpsons" after a contentious and public contract dispute.

Dueling tweets in May between Shearer and "Simpsons" executive producer Al Jean suggested Shearer was leaving the Fox cartoon series, where he has voiced numerous key characters since it debuted in 1989.

But Fox has just announced that he will be back for the series' 27th and 28th seasons.

Shearer voices characters including Simpsons neighbor Ned Flanders, billionaire Mr. Burns and his kowtowing aide, Smithers.

71 –year old Shearer has charted a diverse career on numerous projects as an actor, writer, musician and producer.

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

Recapping our top stories this morning...

The Chinese president leaves today for two international summits being held in Russia...

Activities have been held marking the anniversary of the July 7th Incident, the start of China's eight-year struggle against Japanese invaders...

Emergency meetings in Brussels over the Greek debt crisis fail to produce a new bailout program...

In Business...Chinese stocks continue to lose despite government support...

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