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

Coming up on the program this morning...

Beijing celebrates as the IOC gives the city the nod for the 2022 Winter Olympics...

Chinese President Xi Jinping calling for more historical research into China's indispensible role in the Allied victory in World War II..

And French riot police being deployed to the port town of Calais, where asylum seekers desperate to enter Britain have stepped up efforts to cross the English channel into the UK...

In our weekly business review.... China's top leadership pledging to combat downward economic pressure....

In Sports... Lausanne gets the nod to host 2020 Youth Winter Olympics...

In Entertainment...Country singer Lynn Anderson dies at the age of 67 in Nashville....

Top NewsBeijing to Host 2022 Winter OlympicsBeijing has been selected to host the 2022 Winter Olympics.

President of the International Olympic Committee Thomas Bach made the announcement at an IOC session yesterday in Kuala Lumpur, Malaysia.

"The International Olympic Committee has the honour to announce the host city of the Olympic Winter Games 2022....Beijing."Beijing was chosen over Almaty, Kazakhstan.

The vote was relatively tight, with the Chinese capital receiving 44 votes to Almaty's 40.

Beijing, which hosted the 2008 Olympics, is set to become the first city to stage both Summer and Winter Games.

Beijing's Bid Representatives have signed the Host City Contract.

Chinese President Xi Jinping has sent out a letter of appreciation to International Olympic Committee President Thomas Bach, expressing his thanks to IOC for its trust and support in selecting Beijing and Zhangjiakou as the hosts of the 2022 Games.

Ahead of Beijing's selection, Lausanne, Switzerland won the bid to host the 2020 Youth Winter Olympic Games.

Beijing Promises a Great, Special and Excellent GamesAnchor:

Chinese delegates attending the IOC session in Kuala Lumpur are vowing to present a "great, special and excellent Games to the world" after Beijing was chosen to host the 2022 Winter Olympics.

CRI's Luo Wen reports.

Reporter:

Chinese vice-premier Liu Yandong said China will work hard for the 2022 Winter Games.

"Successfully winning the bid is a new beginning for us. We will work hard to build our nation, to become an especially good country, so we can present a great, special and excellent Games to the world."The Chinese capital, the first city to be awarded both the Summer and Winter Olympics, narrowly beat Kazakhstan's Almaty 44-40 in a vote, with IOC President Thomas Bach abstaining.

Beijing mayor Wang Anshun said it was "highly significant" for China to host a second Olympic Games.

"The Olympics has a history of over 120 years, and in that 120 years our country, with over one quarter of the world's population, has hosted only one edition of the Olympics. The success of our bid means that we will be hosting a second edition in 2022. Only the second time in over 120 years for a country of 1.3 billion people. It is highly necessary, significant and important for us to host an Olympic Winter Games."The Beijing bid has committed to encouraging Chinese participation in Winter Sports to increase interest ahead of the 2022 Games.

Zhang Li, Head of Beijing 2022 Venue planning and sustainability, said all of the preliminary plans will be improved to ensure a best games.

"We are aimed at the best games in 2022 and we are keen to improve the current preliminary plans we have. We will work closely with IOC and with International Sports Federations on all the plans we have now because our chief goal is the best games in 2022. We need to deliver upon all the pledges we have made and we'll continue to improve it. Thank you."Beijing's bidding committee had said the city will take advantage of the tremendous legacy of the Beijing 2008 Olympic and Paralympic Games legacy - including existing competition venues, infrastructure and professional experience.

But the city is still facing major challenges including air quality and snow conditions.

Local authorities have vowed to cut airborne particles PM2.5 by 20 percent by 2017, and by 45 percent in 2022, with a total of 130 billion U.S. dollars earmarked for environmental protection.

To deal with the lack of real snow, bid officials have promised that they have the capacity to rely entirely on artificial snow-making and to comply with all snow requirements.

Currently, a high-speed railway linking Beijing and Zhangjiakou is under construction.

It's expected to cut the travel time from the two cities to around 50 minutes after completion in 2019.

The Beijing Games will coincide with the Chinese New Year, a plan to create a thrilling festival atmosphere for visitors.

For CRI, I'm Luo Wen.

Beijing's win of Winter Olympic bid hailedChinese President Xi Jinping on Friday hailed the success of the bid for the 2022 Olympic and Paralympic Winter Games by Beijing together with Zhangjiakou.

He has expressed thanks to all the people involved and hopes to present a fantastic Winter Olympics.

Liu Yunshan, member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended a celebration in the Olympic Park in Beijing on Friday evening.

Liu spoke highly of the success of the bid and invited people from around the world to come to Beijing to enjoy the Winter Olympic gala.

Liu also says that the 2022 Olympics Games contributes not only to the winter sports in China, but also to the friendship and mutual understanding between China and the rest of the world.

Celebrations for Beijing's WinAnchor:

Celebrations were held in Beijing and Zhangjiakou after the IOC announcement on Friday evening.

CRI's Luo Bin reports.

Reporter:

Crowds in Beijing wildly celebrated being awarded the 2022 Winter Olympics and Paralympics.

Thousands gathered in the Bird's Nest Olympic Stadium to watch the announcement that was made at 6 PM local time.

The announcement was greeted by cheering, enthusiastic flag-waving from the crowd.

Chen Wanyi, a college student, cheers on the city.

"I feel especially happy to come here and be part of such a celebration, and I'm very happy! I'm so happy that Beijing has become the host of the Winter Olympics! Go Beijing!"Huo Ge, a native of Zhangjiakou, says he is extremely proud.

"I'm definitely happy, because half of me is from Beijing, and half of me is from Zhangjiakou. I'm extremely proud that the Winter Olympics in my both of my hometowns."Besides excitement, expectations are also on the rise that the city will benefit from hosting the event.

Wang Xiaobing, a professor at the China Academy of Sciences, believes that the Winter Olympics could bring possible improvements to Beijing's environment and reduce pollution, much like the Summer Olympics of 2008 and APEC summit of 2014 did.

"Since Beijing won the bid for the Summer Olympics, the surroundings and the environment has improved a lot, like with APEC Blue. I believe the government has the strength to adjust the infrastructure to lower pollution. I think it will make big improvements."Meanwhile, people in the co-host city of Zhangjiakou are also looking forward to the games.

22 year-old student Jin Bo says she wants to be a volunteer for the event.

"I still don't know what I will do during the Olympics in 2022, because I have just graduated in university this year. But I think that when the moment comes I will come to Chongli and consider being a volunteer. I think this is a very good choice."Beijing won 44 nods against Almaty's 40 in the IOC voting with one abstention, becoming the first ever city to host both summer and winter Olympics.

The city plans to use many of the buildings that hosted events in 2008, including the "Bird's Nest" stadium and "Water Cube" arena, for the indoor ice events in 2022, while the snow and sliding venues will be at Yanqing county and the city of Zhangjiakou.

For CRI, I'm Luo Bin.

Almaty Reax to IOC VoteAs Beijing celebrates winning the right to host the 2022 Winter Games, many people say Almaty indeed bowed out with grace.

Andrey Kryukov, the spokesman for the Almaty bid committee, said they had done their best.

"Our bid is perfect. Again I tell you, our job is finish after the final presentation. Not we decide and the decision had been done by IOC. That's why you can see this is a competition. Somebody win, somebody lose."Meanwhile in Almaty, people gathering at a square to watch the live transmission of the vote hope the city will continue to bid for the 2026 event.

"Until the very last moment I was hoping our city would win. Because we already won the right to host the 2017 Universiade, and our country has good prospects. I think that our city will be absolutely ready for the 2026 bid and our fight will continue."Almaty had tried to pitch itself as a model for future hosts, boasting a low-cost bid and its success in hosting the 2011 Asian Winter Games.

Xi underscores research of China's WWII roleChinese President Xi Jinping has called for efforts to study the significance of China's resistance against Japanese aggression and its role in World War II.

Xi Jinping made the remarks at a study session attended by members of the Political Bureau of the CPC Central Committee on Thursday.

He said research of this part of history should focus on the mainstream and true nature of the resistance against the Japanese invasion.

The president also pledged to collect more evidence, including archives and witness accounts.

He also urged efforts to enable historians and institutions across the Taiwan Strait to share historical documents, jointly compile historical records, and jointly safeguard national dignity and honor.

This year marks the 70th anniversary of the victory in the Chinese People's War of Resistance against Japanese Aggression and the end of WWII.

China jails military officer for embezzlementChinese authorities announced Friday that a senior military official has been sentenced to 10-years in prison for embezzlement.

Zhang Daixin served as deputy commander of the Heilongjiang provincial military area command before his fall.

At the same time, it's been announced Wang Xin, former political commissar of the traffic unit of the Chinese Armed Police Force, is being investigated for suspected serious disciplinary violations.

Wang's case has been transferred to military prosecutors.

The two cases were made public just one day after former military leader Guo Boxiong was expelled from the Communist Party of China for taking bribes.

China's Evolving Role in 25 Years of UN Peacekeeping MissionsAnchor:

Today marks China's Army Day, the 88th anniversary of the founding of China's armed forces, known here in China as the People's Liberation Army.

Starting from today, we will bring you a series of five reports on China's armed forces involvement in UN peacekeeping missions.

It's been 25 years since China first joined the United Nations' peacekeeping operations. More than 3000 Chinese peacekeepers are now deployed in 10 missions across the world.

CRI's Wang Mengzhen reports.

Reporter:

It all started in April 1990. Five Chinese military observers joined the UN Truce Supervision Organization in the Middle East, breaking a 40-year China silence in the UN peacekeeping operations.

That was a small pioneering step for China, which had long been opposed to stationing military staff abroad, thinking this might indicate infringing upon sovereignty of other countries.

But things changed. In 2000, China expanded its UN peace-keeping contributions by sending 15 civil police officers to East Timor for the first time. By 2013, China had taken a step further, assigning actual security forces in the Mali operation.

A global outlook and international responsibility is the basis for China's current position, as the country's deputy permanent representative to the UN, Ambassador Wang Min, spoke to a council meeting on peacekeeping this June.

"Right now, China's infantry troops in South Sudan have been fully deployed. This is the first time that China sent infantry troops to the UN peacekeeping operations. At the same time, China has decided to send helicopter units to the UN-African Union Mission in Darfur, Sudan, which will be the debut of Chinese air operations in the Blue Beret. And China is also willing to dispatch more police personnel and experts to join the missions."Alex Bellamy, Professor of Peace and Conflict Studies at the University of Queensland, attributes the dramatic shift in 25 years to China's self-consciousness to shoulder more international responsibilities. This could be seen in the context of China's increasing engagement in the Security Council.

"Since that time, we have seen China become more proactive as foreign trade is growing, foreign investment is growing and foreign aid is growing, so it became more interested and concerned with crisis in other parts of the world. And (China is) also more aware that as a great power, other countries are expecting China to play a leadership role in these areas. We saw that change start around late 1990s."In its 2010 White Paper on National Defense, the Chinese government affirmed its active role in the UN peace-keeping missions as a responsible major power.

Seen from a larger picture, mistrust still remains an existing challenge, especially after China started sending infantry troops to the South Sudan mission since January. Some commentators have raised concerns whether China's increasing military presence in Africa could be part of a broader strategy.

Professor Bellamy believes this kind of suspicion is groundless and unnecessary.

"Forces China sent are always extremely highly trained, very professional. That is very helpful these operations in Mali and South Sudan that are very difficult and dangerous missions. I know that within the UN context, there is nothing but only praise and admirations for China in doing this."Right now, China has become the biggest contributor of troops among the five permanent members in UN's Security Council.

Besides, China's contribution to the UN peacekeeping budget has grown to 6.6 percent this year, the highest among the developing world, and also the 6th among all peace-keeping contributors.

For CRI, I am Wang Mengzhen.

For more stories on China's participation in the UN peacekeeping missions, you can log on to our website crienglish.com to find a special page on it.

China's securities regulator deals with violation of securities regulationsChina's securities regulator said on Friday that major shareholders and senior executives of listed companies should observe relevant rules on stock selling.

Zhang Xiaojun, spokesperson for the China Securities Regulatory Commission, warns that all stock sellings in violation of the related regulations will be punished.

"Shareholders of listed companies should abide by the related promises on stocks selling that they have made. China Securities Regulatory Commission will investigate and punish any stocks selling that violates the regulations and promises."China's corporate law and securities law have clear and strict rules on the selling of stocks by the senior members of a listed company.

In the first half of this year, China's securities regulator has dealt with 52 cases involving illegal stock selling by the senior members of listed companies.

Chinese diplomats in DPRK pay tribute to CPVA martyrsThe Chinese ambassador to North Korea has paid tribute to the martyrs of Chinese People's Volunteer Army, who fought in Korean War of the early 1950s, at a martyrs' cemetery in Kaesong.

Over 15,000 Chinese soldiers were buried in the cemetery.

Ambassador Li Jinjun said the friendship between China and North Korea should be inherited and passed to next generations.

"The two countries share a long history of communication and exchanges. Under the new historical conditions today we are going to inherit the tradition and pass it down and attach fresh meaning to the friendship in the new historical period."The CPVA fought side by side with the North Korean army in the Korean War against U.S.-led UN forces and the South Korean army.

Kim Jong Un, the top leader of North Korea, sent a wreath to the cemetery in Hoechang County, South Pyongan Province this week.

Over 130 Chinese soldiers, including Mao Anying, son of late Chinese paramount leader Mao Zedong, were buried there.

Probable MH 370 debris left Reunion for FrancePlane wreckage carrying probable MH 370 debris left Reunion Island Friday night for Toulouse, France for further analysis.

It's being reported that the debris will be analysed by the General Directorate of Armaments.

Earlier reports also suggested that the debris should be quickly identified, because each piece is numbered in an airplane.

The aircraft wreckage was found on the eastern coast of France's overseas Reunion Island on Wednesday.

France deploys riot police to bolster Calais security as asylum crisis worsensAnchor:

French riot police have been deployed in Calais, a major ferry port in northern France as asylum seekers desperate to enter Britain have stepped up attempts to board trucks and trains travelling via the Eurotunnel connecting France and the UK.

French police have intercepted 17-hundered such attempts on Thursday night.

Cri's Poornima Weerasekara reports.

Reporter:

Hundreds of desperate asylum seekers were seen crawling under the fences near the Eurotunnel terminal in Calais on Thursday night, hoping to jump aboard a train to England.

Despite an influx of French riot police and a surveillance helicopter many continue to make repeated attempts at this perilous journey.

One asylum seeker was crushed to death and another was critically injured after being electrocuted in Paris on Wednesday. This brings the total death toll to nine.

But Gilles Debove, Spokesperson for the French Police Union say the situation as eased slightly over the week.

"The migrants know there is more security around the ferry port and that is the reason they are increasing their attempts on the channel tunnel. In the past we had usually between 800 and 1,200 attempts on the Eurotunnel. This week we saw 2000 attempts on Monday. That was the peak. But last night we recorded 1,700 attempts."Some 3,000 migrants live around the tunnel entrance in a makeshift camp called "The Jungle", making the northern French port one of the frontlines in Europe's wider asylum crisis, alongside Italian and Greek islands used as entry points for those crossing the Mediterranean from Africa or the Middle East.

This also includes many unaccompanied children. In the last three months, the number of under-18 asylum seekers in the care of the Kent council in UK has doubled to 629. Social services in the area are facing a funding shortfall of over 5.5 million pounds as they struggle to cope with this rapid influx of illegal asylum seekers.

Freight and passenger traffic through the rail tunnel have also been severely disrupted in past weeks.

6,000 lorries are parked on the M20 in Kent on the UK side.

British Prime Minister David Cameron earlier chaired a meeting of the UK government's emergency committee.

Cameron says the UK government will work with their French counterparts to tackle the crisis.

"It has been foreseeable and we have taken action. That's why we've had the Royal Navy in the Mediterranean, that's why we're investing in North African countries to stabilise them, that's why we're part of the European operations to deal with the migrant crisis at source. It's also why we've already spent millions of pounds building better fences on the French side of the tunnel and investing in our border and security effort."The UK is sending extra sniffer dogs to Calais and erecting new fences in the French port town, to prevent asylum seekers from crossing over to the UK.

Meanwhile, anti-EU parties on both sides of the Channel have seized on the drama to insist that national borders be better defended.

For CRI I'm Poornima Weerasekara.

Clinton: Cuba embargo must goUS Democratic presidential hopeful Hillary Clinton on Firday called on Congress to end the trade embargo that the US imposed against Cuba in 1962.

"Today am calling on speaker Boehner and Senator McConnell to step up and answer the pleas of the Cuban people. By large majorities they want a closer relationship with America, they want to buy our goods, read our books, surf our web and learn form our people. They want to bring their country into the 21st century. That is the road towards democracy and dignity and we should walk it together."The former U.S. Secretary of State also vows to use her executive powers if elected to bypass congress if it insists on keeping the embargo in place.

This position puts Clinton in line with President Barack Obama, who formally restored diplomatic ties with the Caribbean island after more than 50 years of hostility and mutual distrust.

It also draws a sharp contrast with two top Republican presidential contenders from Florida, Senator Marco Rubio and former Governor Jeb Bush.

Both Rubio and Bush have been critical of the move to restore relations with Cuba, due to their close connections with Cuban Americans in the electorally-critical state of Florida, who tend to overwhelmingly support Republicans in national elections.

Ebola vaccine test could stop virus in West AfricaIt's being reported on Friday that an experimental Ebola vaccine tested on thousands of people in appears to work.

World Health Organization assistant director general Marie-Paule Kieny says the vaccine could now be used to help end the worst recorded outbreak of Ebola.

"So we hope that by continuing the trial with these modifications, with doing all the vaccination immediately and also including younger people, we will be able to assist the Ebola response team, bringing Ebola transmission to zero in Guinea."There is currently no licensed treatment or vaccine for Ebola.

It has killed more than 11 thousand people in West Africa since it began in the forest region of Guinea last year.

The study is now being continued, with all participants receiving the vaccine immediately, and will be extended to include 13- to 17-year-olds and possibly also 6- to 12-year-old children.

3 Ex-TEPCO execs to face mandatory indictment for nuclear crisisThe former chair of the Tokyo Electric Power Company, or TEPCO, along with two former vice-presidents, are to face charges of professional negligence.

The three are being indicted over their handling of the Fukushima nuclear disaster.

They're accused of failing to take measures to strengthen safety requirements at the Fukushima nuclear plant, even though they knew there was potential danger from a tsunami.

WeatherBeijing is cloudy with a high of 31 degrees Celsius. Light rain to moderate rain tonight with a low of 23.

Shanghai is sunny with a high of 38, cloudy tonight with a low of 29.

In Chongqing, it will be cloudy with a high of 38 and a low of 28.

Elsewhere in the world, staying here in Asia,Kathmandu, light rain, 30.

Islamabad, ligh rain with a high of 33.

Kabul will be cloudy with a high of 29.

Over to North America,New York, cloudy with a high of 32 degrees.

Washington, cloudy with a high of 33 degrees.

Honolulu, cloudy, 28.

Toronto will be cloudy with a high of 25 degrees.

Finally, on to South America,Buenos Aires will be overcast with a high of 15.

And Rio de Janeiro will be cloudy with a high of 26 degrees Celsius.

Headline newsBeijing wins the right to host 2022 Winter Olympic GamesBeijing has won the bid to host 2022 Winter Olympic Games.

President of the International Olympic Committee Thomas Bach has made the announcement in Kuala Lumpur, Malaysia.

This means Beijing will be the first city to host both the Summer and Winter Games.

The vote was relatively tight, with the Chinese capital receiving 44 votes to Almaty's 40.

Chinese President Xi Jinping has expressed his thanks to the IOC for its trust and support in selecting Beijing and Zhangjiakou as the hosts of the 2022 Games.

Beijing's win of Winter Olympic bid hailedChinese President Xi Jinping on Friday hailed the success of the bid for the 2022 Olympic and Paralympic Winter Games by Beijing together with Zhangjiakou.

He has expressed thanks to all the people involved and hopes to present a fantastic Winter Olympics.

Liu Yunshan, member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended a celebration in the Olympic Park in Beijing on Friday evening.

Liu spoke highly of the success of the bid and invited people from around the world to come to Beijing to enjoy the Winter Olympic gala.

Liu also says that the 2022 Olympics Games contributes not only to the winter sports in China, but also to the friendship and mutual understanding between China and the rest of the world.

Heavy rainfall batters Guangxi, more than 1 mln affectedMore than one million people have been affected as more downpours hit Guangxi Zhuang Autonomous Region.

2 people are missing and over 53-thousand people evacuated as continuous rainfall flooded over 30 counties on Friday afternoon.

The rainstorms have damaged hectares of crops and houses, causing a direct economic loss of about 350 million yuan.

Rescue teams and relief materials have been sent to the rain-battered areas.

U.S.-led airstrikes target key bridges in eastern SyriaThe U.S.-led anti-IS coalition struck two key bridges on Friday in eastern Syria.

Both bridges were used by Islamic State militants to move between Syria and Iraq.

One of the bridges connects the Syrian city of Bukamal with the town of Bagouz in Iraq, while the other connects Bukamal with the town of Swaiyeh.

The Observatory says that partial destruction of the bridges makes IS movement difficult between both countries.

The U.S.-led anti-terror coalition started striking the IS positions in Syria in September of last year.

Israeli troops' gunfire kills Palestinian teenager in northern GazaA 17-year-old Palestinian teenager was killed Friday and another one moderately injured by Israeli soldiers' gunfire near the borders between northern Gaza Strip and Israel.

Security officials said the soldiers opened fire at the two teenagers after they approached the fence of the borders.

There has been no immediate Israeli army comment on the incident.

The Israeli army stationed near the borders has built a 3-hundred-meter security no-go zone.

According to Isreali officials, soldiers will open fire at anyone who gets close to the area.

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.

This week, China's top leadership has pledged targeted policies to combat the downward pressure on the economy.

Chinese authorities are now moving to try to attract more private investment into the railway sector.

And on Monday, the Chinese A share market suffered an over 8 percent loss, the worst one-day hit since 2007.

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

Reporter:

On Thursday, a statement released after a Political Bureau of CPC Central Committee meeting chaired by President Xi Jinping, revealed more targeted policies to deal with the downward pressure on the economy which they describe as "relatively big".

The statement says promoting reforms will be crucial to restructuring the economy.

The reforms will focus on state-owned enterprises, taxation, as well as finance industries.

It also says China will maintain its proactive fiscal policy by continuing to expand public spending, reduce companies' burdens and encourage private investment, while keeping its prudent monetary policy elastic.

China's growth held steady at 7 percent in the first half of the year, with nascent signs of recovery fueling hopes of growth picking up in the latter half of the year.

///////As part of the latest reform measures, private investors are now being allowed to bid for railway contracts and manage the projects through different investment channels.

This was included by a new set of guidelines of China's top economic planner released this week.

At the same time, the government says it's also looking for more private investment in the construction and operation of inter-city and intra-city rail links, as well as in mining projects.

Private investment is also being courted for overseas railway contracts.

Wang Jun, researcher with China Centre for Economic Exchanges, says getting more private investment will help economic growth.

"On the one hand, these measures push forward reforms in sectors that have been highly monopolized by the state. It helps to broaden market access in these industries. On the other hand, investment in infrastructure construction, especially the rail sector, can guarantee relatively good returns for investors facing economic pressure."China's government has put a priority on railway spending in recent years.

Changing the way it finances these projects is high on the government's agenda.

////////Chinese shares extended losses this Friday, ending what has been a gloomy month for investors.

The benchmark Shanghai Composite Index shrank 1.1 percent.

On Monday, the over 8 percent stock-market plunge ended a six-day rally. This is believed to be the worst hit in a single day since 2007.

Analysts struggled to explain the severity of the sell-off, which accelerated sharply in the afternoon session.

Gao Shang is an analyst with Guantong Futures.

"During the past two weeks, the benchmark index has rebounded 30 percent. So for some investors, they choose to take profits and sell the shares which they sell at the previous bottom price. Another important factor is the market confidence. The market sentiment is now still extremely fragile. So once the trend turned a little bit downward, most investors no longer have patience to hold the shares."Shortly after the closing bell, China's securities regulator urged its financial arm, China Securities Finance Corporation, to continue to buy stocks and stabilize the market.

China Securities Regulatory Commission said it has also started probes on the possible irregularities and illegal margin trading activities.

On Friday, the Commission also said it would keep a closer eye on programmed, electronic trading by institutional investment firms.

/////////The creation of a China-ASEAN e-commerce network is expected to be finalized at this year's event.

Chinese vice-Commerce minister Gao Yan notes the 10 countries which make up ASEAN account for a significant amount of trade with China.

"The trade between China and ASEAN reached 480.1 billion U.S. dollars in 2014, with the year-on-year growth rate being 8.23 percent, which is 5 percent higher than the growth rate of China's total foreign trade last year. The trade between China and ASEAN reached 224.38 billion U.S. dollars in the first half of this year, up 1.6 percent year on year. The trade with ASEAN accounts for 12 percent of China's total foreign trade."Economic and trade cooperation between China and ASEAN countries is continuing to rise, despite the current economic slowdown.

Trade spiked more than 8-percent last year, and is also up 1.6-percent through the first half of this year.

////////China's central bank is moving to make it easier for other central banks, financial institutions and sovereign-wealth funds into the country's bond market.

Investors now only need to register with the People's Bank of China in order to trade bonds in the spot and forwards markets, conduct interest rate swaps and trade forward rate agreements.

They are also free to decide on the size of their respective investments.

Yin Zhongli with the Chinese Academy of Social Sciences says the move will help the domestic bond market.

"China's long-term national bond yield remains at around 3.5%. For foreign institutions, China's national bonds, especially long-term ones, are quite attractive since it has an over 100 basis points higher rate. In the short run, it will bring benefits for secondary bond market in China as it will bring a lot of capital into the country."Chinese regulators this month have also made it easier for international investors to get into China's interbank bond market.

//////The London Metal Exchange is now accepting the overseas renminbi as use as cash collateral.

LME clearing has added the renminbi to its collateral currency list, which already includes the US dollar, the UK pound, the euro and the Japanese yen.

Professor Liu Baocheng at the University of International Business and Economics says it will be beneficial for both Chinese companies and financial agencies.

"China is among the largest consumers of metals. So for the Chinese companies, it is really a reduction of transaction cost and it is easy to call RMB in and out for transactions and settlements. Also for Chinese financial organizations, they save the conversion cost and they will be able to help more players in the futures market."Chinese currency, which has been processed outside the mainland, is freely tradable.

//////The China Insurance Regulatory Commission, the country's insurance watchdog, has issued a guideline to regulate the internet insurance business over the week.

The new guideline clearly defines the qualification and regulations of the internet insurance businesses.

Dean of School of Insurance with Central University of Finance and Economics Hao Yansu says rules need to be set up to regulate the new business.

"Currently, there are over 80 insurance companies in China. Most of them have their own online platforms to sell products. There are also a few independent online insurance companies. As more and more insurance companies launch their websites, more social capital will enter the internet insurance business. Thus rules need to be set up to ensure the effective operation of this business."According to the guideline, only legally registered insurance companies and professional insurance agencies can sell products online.

The regulation is set to come into effect this October.

/////////Lastly on the Corporate front,A new international arm of China's sovereign wealth fund has started its operation from Monday.

China Investment Corporation Overseas has reportedly been given 5-bilion US dollars in initial seed money.

However, that figure is expected to expand to around 100-billion US dollars in the future.

CIC Overseas will focus on managing the profits made from Foreign Direct Investment into China, as well as revenues generated through the Belt and Road Initiative.

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

SportsLausanne to stage 2020 Youth OlympicsThe Swiss city of Lausanne has been chosen to host the 2020 Winter Youth Olympics yesterday.

The city, where the International Olympics Committee is based, has won a ballot of IOC members in Kuala Lumpur, beating the only other candidate, Brasov of Romania.

The Youth Olympics are restricted to athletes aged between 14-18, and 2020 will be the third edition of the event designed to encourage young people to participate in sport.

The first Games were held in Innsbruck, Austria in 2012, while Lillehammer, Norway will host the second edition next year.

As part of their proposal, Lausanne's bidders said they planned to stage some events in neighboring France.

FINA 2015 recapA recap of the 16th FINA world championships in Kazan,The eighth competition day has seen plenty of positive emotions as the world's best athletes competed for two sets of medals in diving and synchronized swimming.

China's Shi Tingmao has climbed on the top of the list in women's 3m springboard semis with a total of 381.9.

24-year-old He Zi has also qualified for the final in second place, with 10.5 less than her past compatriot.

Third was claimed by Jennifer Abel of Canada, who remains the same position after the preliminary round.

===On men's side, 23-year-old He Chao has claimed the victory in the 3m springboard final with 555 points, adding one more gold for the Chinese team.

And Russia's Ilya Zakharov is 7 points behind him in the second.

Jack Laugher of Great Britain took the bronze.

It is Laugher's second medal of the Championships after he and partner Chris Mears took the bronze in the 3m synchro event.

===On the same day, Russia retained its title in the team free program with a score of 98.4, including two perfect 10s from the judges.

The Chinese team took the second place with 96.1.

Japan won a fight for the bronze with 93.9 points, only 0.2 more than Ukraine.

So far, China remains top in the medal table, holding 7 golds and 17 in total, followed by Russia and the USA with 11 and 5 overall.

Tomorrow, divers from different countries will compete in 3m springboard and 10m platform diving events.

Apart from diving, tomorrow's programs will also include women's free combination synchro swimming, as well as 25km open water swimming.

Denis Kudla beats Dudi Sela in Atlanta OpenIn tennis,Denis Kudla has eased past Dudi Sela in straight sets 7-5, 6-0 in the quarter-final of the Atlanta Open.

Kudla had to qualify for this event but showed he belonged with some big hitting on his way to the first set, taking it 7-6.

The American simply out-powered his 30 year-old opponent, dominating with his serve.

Sela didn't win a game in the second set, with Kudla taking it 6-0 in a one-way encounter.

Kudla got 76 percent of his points from his first serve, along with six aces.

==Elsewhere,Rafael Nadal has advanced to the semi-final of the Hamburg Open by beating fifth-seeded Pablo Cuevas in straight sets 6-3, 6-2.

Top-seeded Nadal is set to face Andreas Seppi, who reached the last four without having to play, as his opponent, Simone Bolleli, withdrew with a stomach ailment.

Nadal is looking to extend his streak of having won at least one European clay-court title every year since 2004.

The former top-ranked player has dropped to No. 10 in the world.

Pettersen holds lead at 2nd round of Women's British OpenIn golf,Norwegian player Suzann Pettersen has currently led the second round of the Women's British Open.

She was the only player among the early starters to break par, taming a stiff breeze off the western Scottish coast to shoot a 3-under 69.

Pettersen holds a two-shot lead over Teresa Lu who carded a 1-under 71.

Lu is tied in second with So Yeon Ryu and Lydia Ko.

Ryu shot four birdies for a level par 72 while teenager Ko carded a one-over 73.

Mika Miyazato and Jin Young Ko are level in fifth after shooting a par-72.

Meanwhile, Sweden's Anna Nordqvist made five birdies including the last hole to finish level in seventh on par-72 with Minjee Lee shooting an identical round.

Top-ranked Inbee Park shot a 73, leaving her five shots back, and she is looking to complete a sweep of the majors.

Fraser-Pryce fires warning to sprint rivalsSomething related to the coming IAAF world championships,Fraser-Pryce has swept to victory in the Stockholm Diamond League 100 meters with a 10.93-second triumph which sent out a powerful message to her world championship rivals.

The Jamaican sprinter, who is the reigning Olympic and world champion, edged out Tori Bowie of the United States and compatriot Natasha Morrison.

Fraser-Pryce, 28, was running for the first time since setting the season's best time in the sprint in Paris a month ago.

Her performance was a resounding reminder to her rivals just three weeks away from the world championships in Beijing.

The Jamaican star is also the reigning world champion in the 200 and 4x100 relay.

Qatar's high jump star Mutaz Essa Barshim slumped to a fourth successive Diamond League loss, a run of form which makes his season-best of 2.41 meters appear a distant memory.

Barshim has now been beaten at Oslo, Paris, London and Stockholm.

Alejandro Burzaco pleads not guilty in FIFA scandalArgentinian businessman Alejandro Burzaco, one of 14 people indicted in a corruption case involving FIFA, has pleaded not guilty in a U.S. federal court in Brooklyn.

The 51-year-old former chairman of an Argentina-based sports marketing business turned himself in to Italian authorities in June.

U.S. prosecutors say he was involved in kickbacks and bribes worth tens of millions of dollars to obtain media rights for soccer tournaments.

The judge has set a bond at $20 million and allowed his release subject to restricted travel and electronic monitoring.

A New York law firm representing him had no comment.

EntertainmentLynn Anderson, singer of 'Rose Garden,' dies in NashvilleLynn Anderson, whose strong, husky voice carried her to the top of the charts with "Rose Garden," has died. She was 67.

Anderson first soaked up the national spotlight as a young singer on "The Lawrence Welk Show" between 1967 and 1969. The exposure helped her nab a deal with Columbia Records.

It was "Rose Garden" that sealed her country music legacy, earning her a Grammy and Country Music Association's female vocalist of the year award in 1971.

She made television appearances with such stars as Lucille Ball, Bing Crosby, John Wayne and Tom Jones, and she performed for presidents Nixon, Ford, Carter and Reagan.

SM files lawsuit against EXO's Chinese memberSM Entertainment, one of South Korea's leading talent agencies has filed a damage suit against Kris, an estranged Chinese member of popular K-pop boy band EXO for his "illegal" appearance in Chinese films and advertisements.

Chinese filmmakers and advertisers who hired him were also among those named in the lawsuit filed with a Beijing court.

The 24-year-old singer ceased activities as an EXO member after he filed a lawsuit in Seoul to nullify his exclusive contract with S.M. in May last year.

In February, the company lodged similar suits at Hong Kong and Shanghai courts against Luhan, another estranged Chinese member of EXO.

Facebook CEO Mark Zuckerberg and his wife expects babyFacebook CEO Mark Zuckerberg and his pediatrician wife, Priscilla Chan, are said to be expecting a baby.

The co-founder of the world's largest social network used a Facebook post Friday to announce that Chan is pregnant with a healthy baby daughter. He didn't say when the baby is due.

Zuckerberg, 31, also said the couple had suffered three miscarriages over the last two years. He acknowledged in his post that many people are reluctant to speak publicly about miscarriages.

He said the couple, who married in 2012, hopes to encourage other parents who may be struggling with difficult pregnancies.

New trailer of Johnny Depp's "Black Mass" releasedA new trailer to upcoming thriller Black Mass which features Johnny Depp's depiction of a terrifying gangster has been released.

The movie is based on the book Black Mass: The True Story of an Unholy Alliance Between the FBI and the Irish Mob.

The 52-year-old actor takes on the role of real-life mobster Whitey Bulgar in Black Mass, who also happens to be the brother of the state senator.

He becomes an FBI informant in order to help remove the Mafia who are encroaching his patch.

Scott Cooper is directing a cast that also includes Benedict Cumberbatch, Kevin Bacon, Rory Cochrane, Peter Sarsgaard, Dakota Johnson and Adam Scott.

Black Mass opens on September 18th.

Bill Wyman doc leads slate for former Pulse execFormer Pulse Films head of music Jamie Clark is to produce a documentary about Bill Wyman, the former bassist for The Rolling Stones, under the banner of his new production outfit My Accomplice.

Documentary It's Always the Quiet Ones, made in collaboration with Wyman, will chart the highs and lows of the musician's career.

It will also include unseen film footage and photographs captured by Wyman during his time with the Stones, who he played with from 1962 to 1993.

Ollie Murray will make his feature debut on the project, which was presented at Sheffield Doc/Fest in June and is currently in pre-production.

Colin O'Toole is set to direct.

1,000 rockers perform 'Learn To Fly' in plea for Foo Fighters concertDave Grohl may have a broken leg right now, but that hasn't stopped the Foo Fighters from touring -- and now, 1,000 Italians are campaigning pretty convincingly for the rock band to visit their hometown.

Citizens from all over the Italy recently traveled to the northern city of Cesena to band together and show the Foos they can rock too, performing and filming a 1,000-person version of the group's 1999 hit "Learn to Fly".

Organizer Fabio Zaffagnini said in the video he spent a year putting this together.

The video has already generated more than 3.5 million views.

It sure caught the band's attention, including frontman Dave Grohl.

"How beautiful, Cesena," the Foo Fighters tweeted back in Italian.

The Foo Fighters are currently scheduled to perform in Casalecchio Di Reno, Italy, on November 13 -- about an hour away from Cesena.

Maisie Williams has 'significant role' on 'Doctor WhoMaisie Williams who is best known as Arya Stark on HBO's "Game of Thrones" has been revealed to have a 'significant role' on the newest season of "Doctor Who".

The show runner Steven Moffat revealed that Williams' role on "Doctor Who" is different for the 18-year-old actress.

She said the actor will be a brand-new character, not someone from the Doctor's past.

Season nine of "Doctor Who," which stars Peter Capaldi as the Doctor and Jenna Coleman as his companion, Clara, premieres Sept. 19 on BBC America.

One Direction Drop Surprise New SingleBritish boy band 'One Direction' has put out a new single to the surprise of many.

"Drag Me Down" now available on Spotify and iTunes.

The new single comes on the heels of former band member Zayn Malik announcing solo record deal with RCA.

'One Direction' celebrated its 5th year anniversary last year.

"Drag Me Down" has become the band's 15th single.

It's to be included in their forthcoming new album, which is due out later this year.

WeatherBeijing is cloudy with a high of 31 degrees Celsius. Light rain to moderate rain tonight with a low of 23.

Shanghai is sunny with a high of 38, cloudy tonight with a low of 29.

In Chongqing, it will be cloudy with a high of 38 and a low of 28.

Elsewhere in the world, staying here in Asia,Kathmandu, light rain, 30.

Islamabad, ligh rain with a high of 33.

Kabul will be cloudy with a high of 29.

Over to North America,New York, cloudy with a high of 32 degrees.

Washington, cloudy with a high of 33 degrees.

Honolulu, cloudy, 28.

Toronto will be cloudy with a high of 25 degrees.

Finally, on to South America,Buenos Aires will be overcast with a high of 15.

And Rio de Janeiro will be cloudy with a high of 26 degrees Celsius.

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

A recap of your headlines:

Beijing celebrates as the IOC gives the city the nod for the 2022 Winter Olympics...

Chinese President Xi Jinping calling for more historical research into China's indispensible role in the Allied victory in World War II..

And French riot police being deployed to the port town of Calais, where asylum seekers desperate to enter Britain have stepped up efforts to cross the English channel into the UK...