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

Coming up on the program this evening...

Yuan falling sharply as China improves exchange rate formation system...

China to establish reporting system about HIV infections at schools...

Australia announcing new goals to cut emissions by 26% of 2005 levels by 2030...

In Business…China's auto output, sales lower than market expectations...

In Sports...Badminton's Lin Dan dominates in opening of 2015 World Championship...

And in Entertainment... Chinese musical 'Terracotta Warrior 3D' making its US debut...

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

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TopYuan falls sharply as China improves exchange rate formation systemThe People's Bank of China has vowed for more efforts to promote foreign exchange reform, to make it more "market-oriented".

This comes after the central bank made the decision on Tuesday to improve its "central parity system" to better reflect market development in the exchange rate between the Chinese yuan against the U.S. dollar.

The central bank says it will open up the foreign exchange market further with the inclusion of qualified foreign entities and gradually unite onshore-offshore RMB exchange rate.

China's foreign exchange reform officially started in July 2005 when the central bank decided to unpeg the yuan against the U.S. dollar and allowed it to fluctuate against a basket of currencies.

China to establish reporting system about HIV infections at schoolsChinese authorities are trying to raise awareness about HIV/AIDS in schools as the country has seen a marked rise in infections of the virus among young students.

Health and education authorities required the country's schools to report HIV/AIDS infection cases in students and establish a regular consultation mechanism to analyze the cause of infections and formulate countermeasures.

Wu Zunyou is director at the National Center for AIDS and STD (Sexually Transmitted Disease) Control and Prevention.

He says the report will only publish the case rather than the infected person.

"It won't disclose a specific person. But it will publish the epidemic situation to inform the public of the seriousness of the disease. For instance, it will inform the public how many students got infected in Beijing and the infection rate. "In a joint circular issued on Monday, the National Health and Family Planning Commission and the Ministry of Education called for the improvement of HIV/AIDS voluntary counseling and testing services, especially for schools.

Bengbu Publishes lifelong driving ban listBengbu city in east China's Anhui province has published a list of drivers with a lifelong driving ban. All the 40 people on the list are hit-and-run drivers caught since January 1, 2014.

Zhu Hao is an officer at Bengbu traffic police detachment.

"That means all the drivers on the list are banned from signing up for driving license exam or regaining the license for lifelong time. The public security organs will register their ID number and previous license number in the network. Once they try to sign up, the process will be locked up."Zhu says most of the drivers on the list are young and haven't received a good education.

Zhu explains that the move is a warning to the public.

"In this way the public can better supervise the implementation of the lifelong driving ban policy. We would like to inform the public that things won't be over after the case. The punishment is effective through your whole life."It is the first time that a local government has published such a list.

Chinese aircrew recall moments of fight against flight arson attemptAnchor:

Crew members of a Shenzhen Airlines flight recall the intense moment when they restrained a man who was attempting to set fire to the plane last month.

CRI's Luo Bin has the details.

Reporter:

The attempted arson occurred on July 26 aboard flight ZH9648 from Taizhou, in east China, to Guangzhou in south China.

Cai Xiaoge, the aircrew captain, says he declared an emergency landing and told passengers to sit tight through loudspeaker.

"I wanted those passengers who would leave their seat to feel the tension. I wanted them to sit tight, because we had met with the situation that the plane's balance was affected by passengers who left their seats and walked around."While the captain was landing the airliner, some of the stewardesses stood in the aisle to calm the panicked passengers down.

After the airliner landed in the Guangzhou airport at 00:58, Cai ordered his crew to open the emergency exits and evacuate the passengers.

Dong Xueqiong, a stewardess on board the flight, says though she was a little bit scared, all crew members dealt with the emergency situation step by step as they had been trained to do.

"When we opened the emergency exit, I saw a father and his child. The father looked anxious and seemed to want his child to escape the plane as soon as possible. So I told him not to worry, he could escape the plane together with his child through the emergency slide and then taught him how to use the slide properly. I noticed that the look on his face seemed to say 'thank you', and soon, he said everything was alright."A security personnel, under the conditions of anonymity says the man who failed his arson attempt became frantic as the passengers evacuated, attacking security personnel with anything he can grab around him.

"He started to attack us with the luggage around him, then charged toward us with the luggage on his head. We blocked him every time he tried to breakthrough, because there were still passengers behind us who hadn't escaped."Two security officers and two passengers subdued the suspect in the first-class cabin.

The incident has prompted questions how the arsonist managed to bring a knife, lighter and gasoline onto the plane.

The director and deputy director of the civil aviation administration of Taizhou City have been removed from their posts over the incident.

The arsonist was found to be brain dead after being sent to the local hospital, his motivation remains unknown.

The aircrew was awarded 2.5 million yuan by the Shenzhen Airlines for their proper handling the incident and brave behaviors.

For CRI, I'm Luo Bin.

New Move Targets Grassroots CorruptionAnchor:

A new campaign is underway to root-out corruption at a local level, with China's rural areas the new focus.

CRI's Yu Yang reports.

Reporter:

The two-year campaign has been initiated by the Supreme People's Procuratorate.

Gao Bo with the Chinese Academy of Social Sciences says the fight against grassroots 'flies' is urgently needed.

"We're expecting the anti-corruption drive will help increase reforms, as well as improve supervision and make policies better implemented so as to gain more public recognition."Over the past 2-years, Chinese prosecutors have investigated around 29-thousand lower-level government officials in townships and villages.

Part of the crackdown has been focused on rooting-out officials stealing money which had been earmarked for low-income households and orphans.

In the latest case, a low-ranking official with an agricultural service center in Beijing's Changping District stole around 800-million yuan for his personal investments.

Xin Ming with the CPC's Party School says it's these so-called 'flies' that represent the major concern for the Party.

"Grass-roots officials are closer to the common people. As such, their misdeeds tend to gain much more attention among the locals than high-ranked officials."The crackdown on corruption began in 2012.

Chinese President Xi Jinping, in taking office, vowed to root-out both "tigers," or high-ranking officials, as well as "flies," or lower-level administrators.

However, corruption cases involving grassroots officials in rural areas have been increasing over the past 3-years.

Professor Xin Ming says loopholes in the supervision system need to be addressed.

"These crimes result not only from the poor quality of some cadres, but also a lack of supervision. If we fail to address the problems, our policies will not work. That will undermine the public confidence of the government."The Supreme People's Procuratorate says the new 2-year campaign should also help create transparent elections at the village level.

For CRI, I'm Yu Yang.

China publicizes confessions by Japanese war criminalsA total of 31 confessions from Japanese war criminals will be published online starting from Tuesday to expose crimes committed by Japan in China during World War II.

Handwritten confessions, along with Chinese translations and abstracts in both Chinese and English, have been published on the website of the State Archives Administration.

One confession will be published per day from August 11.

The confessions, which have never been released before, detail crimes perpetrated by the Japanese, including killing, enslavement and poisoning of Chinese people, as well as the use of biological and chemical weapons on live human subjects.

Japanese War Orphan Recounts PastA 73-year-old Japanese war orphan Nakajima Yuhachi recalls his past after he was abandoned by his birth parents during the Japanese retreat at the end of World War II in 1945.

CRI's Xiao Yi has more:

Reporter:

Su Zhengqin, a local villager in Mudanjiang, northeast China's Heilongjiang province, adopted Nakajima and took good care of him although her family had to face the discrimination from their neighbors.

Nakajima says his foster parents were the simplest villagers. Though their lives were tough, they always provided for him.

"My belly was big but I was quite skinny due to the dyspepsia. So my foster mother fed me with the food she had chewed, and massaged my belly every day. My condition got better and better. About ten months later, my birth mother planned to return to Japan with the Japanese group. She came to take me back to Japan. But of course, I chose to stay with my foster mother in China."Nakajima's birth mother once authorized the Red Cross to find him and attempted to take him to Japan. But Nakajima rejected her.

However, Nakajima felt more and more curious about his life experience as he grew older. Letters from his birth mother made him decide to go home at the age of 16 in 1958.

"(They told me) there would be no ships transporting us to Japan any more. That was the last chance. I had to go since they said so. My foster mother passed away in December of 1975. I never saw her again after I left China. So I wrote it into my book. I felt greatly sorry for her."Nakajima finished his memoirs in his retirement and published them by himself in Japan in April and in China in later July.

It is the first of its kind released in both Chinese and Japanese.

From 1931, the Japanese government stimulated its people to migrate to China's northeastern provinces.

As WWII and the War of the Chinese People's Resistance Against Japanese Aggression was coming to end, more than 4,000 children were abandoned by their fleeing parents. Most of them relocated to Japan after the two countries normalized diplomatic relations in 1972.

For CRI, I'm XYee.

Australian Maps out Infamous "Death Railway"Anchor:

Australian engineer, Rod Beattie has single handedly mapped out the route of the so called Death Railway, a Japanese WW2 construction in Thailand that cost the lives of 100,000 workers, including allied prisoners of war during Japan's occupation.

CRI's Huang Shan has more.

Reporter:

The so called Death Railway was originally built to supply Japanese forces in Myanmar and slave labour was used in its construction. The treatment and conditions for prisoners of war during the construction was so bad that for each of the 415 kilometres built, 250 lives were lost.

From 1944 onwards, the Allies turned the tide against the Japanese in Myanmar but the railway was running till the very end. It was only after Japan's surrender that the full horrors of its construction were revealed.

Rod Beattie's fascination and work for uncovering the railway took hold in 1994, while in Thailand for work. Since then he has been tracing the line.

The 67 year old engineer has walked more than 3,000 kilometres back and forth, over two decades, building an unrivalled picture of what happened where.

The result is probably the world's most authoritative database on the PoWs, all drawn from primary sources. Beattie says families need to know what happened.

There are people who don't want this history remembered. They don't want families to know what happened to the men who died out here. There was a decision made at the end of the war that the families will never be told. Well the families need to know."This is perhaps the most important part of Beattie's work, finding out what has happened to relatives who have had wrong information printed about where and how they died, so that affected families can know.

Even after 70 years from the end of the war, 34 Australians still make the pilgrimage to Kanchanaburi to remember what had happened and meet Beattie, the man who has shed much light concerning this event.

One of these visitors, a Kathleen Wilson, had this to say about Beattie's efforts.

"He's corrected so many records that they really shouldn't be questioned because he's got the evidence as well and still continues to work on it. I just think he's done a wonderful service to both here, both to Thailand and to Australia, and the British and the Dutch as well."To these pilgrims, Beattie is nothing short of a hero of truth, whose mission continues as many more families affected by the war inquire into his work.

For CRI, I am Huang Shan.

China Confident on Achieving Energy Conservation and Emission Reduction TargetsAnchor:

Today we're bringing you the 2nd report in our series on China's role in combating global climate change.

This edition focuses on the energy conservation and emission reduction targets set out in the last 5-year plan.

CRI's Xie Cheng has more.

Reporter:

Wu Shunze, Vice President of Chinese Academy for Environmental Planning, explains his interpretation of the binding carbon emissions targets.

"Those binding targets are in accordance with our country's situations, as well as the internal demand for our current development. The core is toughening the binding, solidifying the responsibilities, and increasing the proportion of environmental protection and energy conservation. It's actually a reversed pressure mechanism for economic transition and development, and it could promote the improvement of ecological systems as well."Up till now, China has made remarkable progress in promoting energy consumption and emissions reduction.

Statistics show that China's energy consumption and carbon dioxide emission per unit of GDP last year dropped by nearly 30 percent and 34 percent respectively over a decade ago.

At this rate, China is going to be able to achieve the binding targets set in the 12th 5-year Plan as scheduled.

For his part, Wu says that the achievements China has made so far are embodied in five factors: a series of strategic arrangements, strengthening targets and responsibilities as well as giving full play to the initiatives of local authorities, making remarkable efforts to upgrade and transition economic and energy structures, the promotion of a great number of relevant infrastructure projects, and optimizing relevant policies and systems.

However, he also mentions that some imbalances remain.

"Some of the targets are difficult to achieve in certain areas. Specifically, there are still wide gaps between China and the world in two main aspects: the comprehensive technological progress level and the target of energy consumption and pollutant discharge."He adds that as far as the technological progress or utilizing energy or resources are concerned, China is still at a 'follower' level rather than a 'pacesetter.'

Wu also mentions some next steps that China should take for further improvement.

"Energy conservation and emission reduction is a long-term goal, thus perseverance is of the essence due to the tasks' arduousness and complexity. There are two factors which require further improvement. First, there is space for the whole society to participate in the goal of green consumption. Secondly, a mechanism of lasting effect needs to be built."At a meeting of National Leading Group on Climate Change, Energy Conservation and Emissions Reduction earlier on June, Chinese Premier Li Keqiang stressed that it is crucial to implement structural adjustments as well as to upgrade development level so as to both grow the economy and at the same time improve environmental quality.

For CRI, I'm Xie Cheng.

German scientists turn human skin into a mobile touch screenAnchor:

A group of German scientists have come up with a way to turn the human skin into a touch screen.

The new technology allows people to control their smart phones by stroking tattoos on their forearms.

CRI's Poornima Weerasekara has more.

Reporter:

Designed by scientists at the Max Plank Institute in Germany, the iSkin can be stuck to fingers, forearms or even behind people's ears.

The thin, flexible sensors can be glued on to the skin like a temporary tattoo.

They allow users to control smartphones by stroking these tattoos – turning the human skin into one gigantic touch screen.

Developer Martin Weigel says this could revolutionize the world of wearable gadgets.

"Current electronics are mostly using rigid components which are very uncomfortable to wear on the body and are limiting the locations to, for example, the wrist or on the head to be worn. But our sensor is a flexible and stretchable sensor, so it can cover many locations. For example, even the backside of the ear or the forearm. So, we have a much larger input space than current electronics allow for."The iSkin system is made of bio-compatible silicone rubber, so the sensors can detect touch even when they are stretched or bent, unlike the current plasma or Led screens.

With the current prototype; wearers can answer incoming calls, play music and adjust the volume on their phone simply by tapping their skin. The inventors have even designed a roll-up keyboard that allows you to type on your forearm.

Weigel says the inspiration for the skin sensor comes from robotics.

"The technology is initially coming from robotics where it's used to give robots kind of a feeling similar to the human body, to human skin. However, we are the first to look into how we can use it on the body to control mobile devices; so as a kind of second-skin which nicely conforms to your body."This technology can also be used to create more human-like prostheses that can sense contact, pressure and temperature.

But Wiegel and his team have even bigger plans"There is also research in using the body as an energy source and harvesting energy from the body, like for example from the temperature or from the blood flow directly.

The Scientists now want to find ways to power the iSkin sensors with energy created in our own bodies. Although it may sound like something out of a sci-fi novel, the day that the human body itself is turned into a perpetual battery in motion may not be too far off in the future.

For Cri I'm Poornima WeerasekaraAustralia to cut emissions by 26% by 2030Australian Prime Minister Tony Abbott has announced Australia's new goal to cut greenhouse gas emissions by 26-28 percent of 2005 levels by 2030.

But his statement has been criticized by environmental groups and opposition politicians for lagging far behind other advanced economies.

Abbott explains the government should be both environmentally and economically responsible.

"We've got to reduce our emissions but we've got to reduce our emissions in ways which are consistent with continued strong growth. Particularly with continued strong jobs growth. And, the last thing we want to do is strengthen the environment and at the same time damage our economy."Abbott says the target will be submitted as part of negotiations on a global climate deal in Paris at the end of the year.

Australia is one of the largest carbon emitters on a per capita basis due to its reliance on coal-fired power plants.

A poll released last week by the Climate Institute think tank showed 63 percent of Australians wanted more action on climate change, up six percentage points from 2014.

Drug seizures skyrocket in PacificThe US Coast Guard has announced it has seized more cocaine off Latin America's Pacific coast over the past 10 months than in the previous three years.

Admiral Paul Zukunft with the US Coast Guard says they have seized nearly 54-thousand kilograms of cocaine worth more than 1.8 billion US dollars so far this year"We've had significant off loads in the last several months. Today you'll see an offload of over 32 metric tons of pure uncut cocaine, the largest drug offload in US history. The wholesale value alone exceeds 1 billion dollars. I'm not in the market of selling this but trust me on the street it would sell for much more."Coast Guard officials say they are unsure if the increase in seizures signals a spike in cocaine use by Americans.

The Coast Guard is the only US military branch able to make drug arrests hundreds of miles offshore.

Traffickers have increasingly turned to the wide-open ocean over the past decade because it is much more difficult to patrol than land routes.

Serbia burdened with increasing numbers of refugeesAccording to the United Nations Refugee Agency, increasing numbers of refugees fleeing Middle-East states have flooded into Serbia during the first half of 2015.

Mirjana Milenkovski, spokesperson of the agency in Serbia says the number of such refugees, most of whom come from Syria, has increased significantly in 2015.

"In 2014, for the whole 12 months, there were 16,490 registered intentions to seek asylum by the refugees. This year, from the 1st of January to 31st of July, 66,476 refugees registered their intent to seek asylum in Serbia."In Serbia's capital, Belgrade, many of the refugees stay temporarily in public parks.

The government provides water and temporary toilets to aid the refugees, but living conditions remain rough.

Some Belgrade residents are voluntarily cleaning up rubbish in the parks, providing the refugees with information and raising money for their daily necessities.

Nenad Popovic is one of such volunteers.

"I would want someone to help me if I was in the same situation. And, you can't blame these people for running away from where bombs are falling on their heads. So, I think we all as citizens, and ... after what happened in the floods last year and people helped us, we need to help them."Serbia's government has said it will keep the border open to refugees.

And, with the assistance from the UN refugee agency, it is expanding the country's refugee centers to accommodate the growing influx.

WeatherBeijing will be cloudy tonight with a low of 23 degrees Celsius; sunny to cloudy tomorrow with the highest temperature reaching 35.

Shanghai will have showers tonight with a low of 24; overcast tomorrow with a high of 29.

Chongqing will also see showers tonight with a low of 24, more showers tomorrow with a high of 32.

Lhasa will be overcast tonight with a low of 12, same skies tomorrow with a high of 24.

Elsewhere in Asia,Islamabad, slight rain tomorrow, 37.

Kabul, cloudy, 29.

Down in the Southern Hemisphere.

Sydney, slight rain with a high of 15.

Brisbane will see slight rain with a high of 24.

Perth, cloudy, 20.

And finally Auckland, New Zealand will be cloudy with a high of 12 degrees Celsius.

Headline NewsA live-fire military drill kicks off in E. ChinaChina's People's Liberation Army has started a joint military drill in the eastern city of Nanjing, capital of Jiangsu Province.

A statement from the military area command said the drill, which is joined by personnel from the army, navy, air force and artillery, will test the troops' joint operations using digitized commands and information.

The drill which kicked off on Tuesday is the second of the five similar drills involving more than 140,000 troops from over 140 PLA regiments of various types.

The first drill of this kind began on Monday in a plateau area in the southwestern province of Sichuan.

China grants allowance to WWII veteransVeterans who fought in the War of Chinese People's Resistance against Japanese Aggression will receive 5,000 yuan before September.

The ministries of civil affairs and finance released a circular on Tuesday, saying that the allowance will be handed out to veterans before September 3, the day China celebrates the 70th anniversary of victory in the War of Resistance against Japanese Aggression.

China has scheduled a series of events to mark the anniversary, culminating in a military parade on Sept. 3 in Beijing.

Beijing police say missing college girl killed by schoolmateBeijing police has confirmed the death of a missing college girl, who was killed by a male schoolmate after a failed rape attempt.

The victim surnamed Zhou was a student from the Communications University of China.

Beijing police acted on a missing-person report from the university late on Monday and arrested a male suspect named Li, who is 23-years-old.

Li told police that he killed Zhou after he failed to rape her.

Zhou, who majored in acting, was reportedly performing in a role for a crew organized by Li.

IS claims deadly boombings in Iraq's DiyalaThe Islamic State militant group has claimed responsibility for the two suicide car bomb attacks in Iraq's eastern province of Diyala, which killed about 60 people.

Late on Monday, a massive explosion occurred at a busy marketplace, leaving more than 53 people killed and more than 70 wounded.

Also in the province, a suicide bomber rammed his explosive-laden car into a security checkpoint and blew it up, leaving eight people dead and four injured.

Diyala province stretches from the east edges of Baghdad to the Iranian border.

It has long been the stronghold of al-Qaida.

Death toll of NY Legionnaires'outbreak rises to 12Two more New York City residents have died of Legionnaires' disease, bringing the death toll to 12 in the largest Legionnaires' outbreak in the city's history.

As of Monday, 113 people have been infected with the disease, and more than 40 have been hospitalized.

Mayor Bill de Blasio announced that the city will implement new regulations for its water system to curb the disease, which includes "new registration, maintenance and inspection requirements for cooling towers".

The two most recent deaths came after de Blasio's recent remarks at the weekend that the outbreak had been contained.

Biz ReportsAnchor:

Turning now to business news.

First a look at the numbers from across the Asian markets to close out this Tuesday evening.

Joining me on the desk is CRI's Wang Mengzhen.

Reporter:

Thanks Sophie.

Asian stocks mostly fell today as investors are considering the global impact of China central bank's latest reform on the yuan's central parity system.

We will have more on that shortly.

Chinese stocks ended mixed today.

Shares related to commercial trade, leisure service and textile industry are the biggest winners today.

Following the landmark deal between Alibaba and Suning yesterday, share price of home appliance retailer Suning has surged to its 10 percent daily limit today.

At the closing bell,The Shanghai Composite Index ended almost flat today.

The Shenzhen Component Index edged up 0.2 percent.

The ChiNext Index, tracking China's growth enterprises, dipped 0.3 percent.

Hong Kong stocks also ended lower today with the benchmark Hang Seng index losing 0.1 percent.

Elsewhere in Asia,Japan's benchmark Nikkei edged down 0.4 percent .

South Korea's KOSPI was down 0.8.

Singapore's benchmark Straits Times Index lost 1.4 percent.

And finally, Australia's ASX 200 fell 2 thirds of percent.

Chinese yuan weakens sharply after exchange rate system reformAnchor:

China's central bank has announced it will improve the Renmibi's central parity system in an effort to better reflect market development in its exchange rate against the US dollar.

Starting from today, RMB's daily central parity quotes should be based on the closing rate of the inter-bank foreign exchange rate market on the previous day as well as price movement of other major currencies.

According to the central bank, the Chinese currency's central parity has deviated from its actual market rate by "a large extent and for a long duration".

Following the change, the central parity rate for the RMB, has weakened over 1000 points, by nearly 1.9 percent, to close at about 6.23 against the U.S. dollar today.

This is said to be the yuan's biggest one-day loss in some two decades. China's central bank later explained the sharp loss as a "one-time" move.

Since March last year, the daily central parity rate of the yuan has been allowed to fluctuate within 2 percent.

For more on the RMB's exchange rate reform, we earlier spoke with Shen Hong, Wall Street Journal's Shanghai Bureau chief.

Back Anchor:

That was Shen Hong, Wall Street Journal's Shanghai Bureau chief, speaking earlier with CRI.

China's auto output, sales lower than market expectations in the first 7 monthsChina's automobile industry has reported lower-than-expected output and sales in the first seven months.

According to the China Association of Automobile Manufacturers, both auto production and sales have reported an 11.8 percent and 7.1 percent year-on-year decline in July alone.

This also marks the third consecutive month of decline.

The economic slowdown, industry competition and purchase quota policies in first-tier cities are said to be to blame for the contraction.

Among all vehicles, the output and sales of commercial cars have dropped significantly by some 14 percent in the first seven months of this year.

Bad loans of China's banks hit US$177bNew stats show the bad-loan ratio in China has increased to 1.5 percent as of the end of June.

The value of outstanding non-performing loans now sits at around 1.1 trillion yuan, or 177-billion U.S. dollars.

In making the announcement, the China Banking Regulatory Commission says commercial banks' credit risk remains "generally controllable," saying Chinese lenders' overall capability to offset their risks remains stable.

The average capital adequacy ratio, the ratio of a bank's capital to its risk-weighted assets, currently sits at 12.9-percent.

'Super bicycle' Produced by Letv.comChinese video website Letv.com has teamed up with Tianjin-based bicycle maker Flying Pigeon to produce a "super bicycle".

The product was unveiled at an ongoing press conference held by the website today in Beijing.

The bicycle includes an array of convenient smart functions such as a music player, an emergency call capability, as well as a navigation system and social networking.

It can also act as a super health tool allowing the cyclist to monitor different health indicators.

The bike is designed to look like a bird in flight, boasting a high level of fashion as well as functionality.

Google Forms New Parent Company AlphabetGoogle has unveiled a new corporate structure, forming a parent company named Alphabet.

Under the new structure, Alphabet will house the tech giant's research arm X Lab, investment arm Google Ventures and health and science operations, as well as its popular search unit.

Larry Page will become the CEO of Alphabet while Google's current senior VP Sundar Pichai will serve as Google's CEO.

Alphabet will replace Google as the publicly traded entity.

All shares of Google will automatically convert to shares of Alphabet, with all of the same rights.

Google will become a wholly-owned subsidiary of Alphabet.

The third bailout deal between Greece and its international creditors approachingIt is being reported that Greece and its international creditors are now very close to reaching the country's third bailout deal after marathon talks.

This comes as Greek Finance Minister Euclid Tsakalotos has gone on-record saying only one or two minor details need to be figured out before securing the new bailout agreement.

Without the deal reached, Greece will not be able to make 3 billion euros, or 3.3 billion US dollars, debt repayment to the European Central Bank by the August 20th deadline.

SportsBadminton Lin Dan Dominates American Opponent in Opening of 2015 World ChampionshipIn badminton action:

Chinese star Lin Dan easily defeated Sattawat Pongnairat of the U.S. in his first match at the 2015 World Championships In Jakarta, Indonesia on Tuesday.

Lin Dan won the match against the non-seeded American in 36 minutes with scores of 21-8 and 21-11.

The Chinese player says he expects to eventually meet arch rival Lee Chong Wei of Malaysia in the tournament in finals this weekend.

However, Lin added that he would focus on each match leading up to the final, rather than obsessing about vying against Lee Chong Wei.

Lee Chong Wei went up against Lithuanian competitor Kestutis Navickas.

Football: Chinese Super League UpdateIn football action from the Chinese Super League going on right now:

Chongqing Lifan is taking on Guizhou RenheGuangzhou R&F are battling Changchun YataiHangzhou Greentown is on the pitch against Shanghai ShenhuaAnd just about to kick off, it's Shanghai Shenxin facing off against LiaoningFootball: Man City Tops EPL After Downing West Brom 3-0In football action from the English Premiere League:

Manchester City have begun their Premier League campaign with an impressive 3-nil victory over West Brom Albion earlier today.

Manc City manager, Manuel Pellegrini, says the victory means a lot to them.

"We don't always think about that, but it was important to win the first game, always it is not easy to start the season away and not easy to play the last game of the first matches, because we know all the other scores and we know that it was very important to start winning."West Brom manager, Tony Pulis, says his choice not to play strikers Saido Berahino and Rickie Lambert and his failed strategy is why his squad lost their opener:

"I wanted to play Saido and Rickie tonight, but it's gone against everything that I've ever done against the bigger teams, we've always filled the midfield and been strong. What we did in truth was allow Silva too much room in the first half and he completely dominated the game, he controlled the game and I take responsibility, it's not the players, it's me on that one."The 3-nil victory puts City atop the standings after the opening weekend.

China's National Basketball League RecapIn hoops news from this side of the Pacific:

In National Basketball League here in China,Shaanxi has suffered its first defeat, going down to Guizhou 97-89 in overtime.

Tyler Wilkerson scored 43 points for Guizhou in the victory.

Shaanxi now sits second at the league standings behind leaders Anhui, which edged Henan 118-80.

In other action,Zhengzhou got past Lhasa 98-85.

Guangxi edged out Beijing 95-83.

B-Ball: Kevin Durant, Carmelo Anthony Join Olympic Team Practice Post InjuriesIn basketball news stateside:

Kevin Durant and Carmelo Anthony are joining the Team USA workouts.

ESPN reports that KD and Melo are among the NBA stars called up to take part in a three-day minicamp solely to satisfy the U.S.A. Basketball requirements to be eligible for competing in the 2016 Rio Olympics.

However, Durant and Anthony will not play in the intrasquad game on Thursday.

Durant fractured his foot during this past NBA season, but he has been cleared to participate in non-contact drill work, according to Oklahoma City Thunders Manager Sam Presti.

Melo also reported that he's recovering ahead of schedule from his season-ending knee surgery earlier this summer.

Golf: Rory McIlroy Prepares to Defend Title Ahead of PGA ChampionshipIn golf:

Northern Ireland's Rory McIlroy says he's ready to make his comeback at this year's PGA Championship.

The defending champion says he's set to make his return to 'the links' after being forced to miss out on the British Open last month after hurting himself playing football with friends.

"You know, it felt like it was the right time to come (back) - regardless whether it was this week or, you know, no matter what week it was, I was ready to go whether it was this week, whether it was some other tournament, it wasn't like I was trying to get back for this - it just so happened that, you know, I'm feeling good enough to go this week."McIlroy has been put in a group with American's Zach Johnson and Jordan Spieth.

This year's PGA Championships will get underway around 8am Friday morning, Beijing-time.

Tennis: Rogers Cup RecapIn tennis action from the Rogers Cup, which just kicked off today in Montreal, Canada:

9th seeded Gilles Simon has cruised past Italian Andreas Seppi in straight sets, 6-2, 6-4, in the first round of the tournament.

The 30-year-old will next face either Serbian Viktor Troicki or Russian Mikhail Youzhny.

In other action, Sergiy Stakhovsky of Ukraine needed 3-sets to get past Canadian wild card Filip Peliwo.

He's set to face Rafael Nadal in the second round.

On the women's side,Flavia Pennetta of Italy has reached the second round, beating Canadian wild card Gabriela Dabrowski in straight-sets.

And no. 14 Venus Williams is out after going down to German Sabine Lisicki 6-0, 6-3.

In upcoming action:

Wimbledon champ and world number one Novak Djokovic is the top seed going into this week's Montreal Masters championship. Djokovic says he needs to put aside the summer success and focus on preparing for the U.S. Open.

A win for Djokovic in his opening match on Tuesday against Thomaz Bellucci will give him his 250th ATP World Tour 1000 career match win.

Number two seed Andy Murray, who lost to Jo Wilfred Tsonga in the quarterfinals of this tournament last year, is hoping to have a better result with an earlier arrival to Canada this year.

Tennis: Serena Williams Still Reigns Atop New World RankingsIn off-court tennis news:

American Serena Williams, Maria Sharapova of Russian and Simona Halep from Romania remain as the world's top three tennis players in the latest world rankings.

Karolina Pliskova from the Czech Republic is now seeded 8th, the first time she has made it among top ten in her career.

Chinese veteran Peng Shuai remains the highest-ranking Chinese player, sitting 33rd.

A total of 9 Chinese women players are among top 200.

Entertainment'Star Wars: The Force Awakens' Releases New TrailerHit science fiction film 'Star Wars: The Force Awakens' has unveiled a brand-new trailer for its upcoming installment, which offers a debut glimpse at the First Order's immense army.

This is the seventh installment of the episodic space film series, with a cast list that includes original members such as Harrison Ford, Carrie Fisher and Mark Hamill.

Meanwhile, John Boyega, Oscar Isaac and Gwendoline Christie will make their first appearances in the franchise.

Director JJ Abrams also shares the exciting news with fans that the infamous midi-chlorians will not appear in the upcoming film.

The story is set some 30 years after the events of the 'Return of the Jedi'.

'The Force Awakens' is to be released in US and UK cinemas on December 18 both in 2D and 3D versions.

Chinese Musical 'Terracotta Warrior 3D' to Make US DebutThe Chinese ground-breaking music drama 'Terracotta Warrior 3D' will make its US debut in Denver, Colorado.

The musical features the history of the first emperor of China - Emperor Qin and his life-size terracotta army in the form of dancing and singing.

The director of the musical, Luo Qiren, says his team aim to let Western audiences feel better involved in this show.

"Chinese art performances often tell the story in a slow and abstract way, which is in line with local audiences' aesthetic taste. However, it may not be suitable for Western audiences who care more about the entertainment factor. So we adopted a similar storytelling method as Broadway, to divide the roughly two-hour musical into 20 scenes, to give audiences more breathing space."The musical drama also displays a high-definition video wall with a million LED lights, which serves as backdrop for the performers on stage.

The musical is expected to kick off on US stages soon.

Romantic Comedy 'Bride Wars' to Hit Big Screens on August 20Upcoming Chinese romantic comedy film 'Bride Wars' is scheduled to hit domestic theaters on August 20th.

The film directed by Tony Chan is a remake of Hollywood star Kate Hudson's 2009 hit film with the same title.

The romantic comedy portrays the conflicts between two young women who are best friends and pursuing the same dream of holding their wedding ceremonies in a luxury hotel.

The storyline develops as their wedding planner wrongly arranged the two weddings on the same day, which triggers a battle between the close friends as one of them has to change the wedding place.

Popular actresses Angelababy and Ni Ni star in the Chinese version.

Recently, many film remakes from Hollywood classics have been seen in the fast-rising Chinese film market.

Chinese director Xu Ang's legal drama '12 Citizens', which is inspired by the 1957 American drama '12 Angry Men', won the highest honor at the conclusion of the Rome Film Festival last December.

Olivia Newton-John to Release New Music Video Featuring with Her DaughterEnglish-born Australian singer and actress Olivia Newton-John will release the music video for a new song named 'You Have to Believe', celebrating the 35th anniversary of the crazy and cheesy "Xanadu".

The film 'Xanadu' is a feature length comedy about Richard Butler, a reclusive writer that is trapped inside his own novel.

In this new song, Olivia Newton-John is featuring alongside her daughter Chloe Lattanzi.

She also says several Las Vegas stars from Caesars Entertainment shows will appear in the music video.

"Our guest stars, we have some wonderful guest stars, we have Chippendales of course, there's gorgeous - I didn't get to work with them, Chloe had all the fun stuff, she got to work with other people. So got to work with the Britney impersonator, Steven Tyler".

'You Have to Believe' is expected to be unveiled on August 21st.

Jesse Eisenberg and Kristen Stewart's Film 'American Ultra' to ReleaseUS film stars Jesse Eisenberg and Kristen Stewart are currently promoting their forthcoming action comedy 'American Ultra'.

The film portrays a small-town guy Mike and his girlfriend Phoebe. The plot develops as Mike's secret past as a trained sleeper agent has been unveiled.

The pair is trapped in a deadly government operation that urges Mike to call upon his action-hero skills to survive.

Kristen Stewart further indicates the character she played has a secret as well.

Kristen Stewart also says she was so excited to work with Eisenberg again after their previous film 'Adventureland'.

'American Ultra' is scheduled to be released in the US on August 20th.

WeatherBeijing will be cloudy tonight with a low of 23 degrees Celsius; sunny to cloudy tomorrow with the highest temperature reaching 35.

Shanghai will have showers tonight with a low of 24; overcast tomorrow with a high of 29.

Chongqing will also see showers tonight with a low of 24, more showers tomorrow with a high of 32.

Lhasa will be overcast tonight with a low of 12, same skies tomorrow with a high of 24.

Elsewhere in Asia,Islamabad, slight rain tomorrow, 37.

Kabul, cloudy, 29.

Down in the Southern Hemisphere.

Sydney, slight rain with a high of 15.

Brisbane will see slight rain with a high of 24.

Perth, cloudy, 20.

And finally Auckland, New Zealand will be cloudy with a high of 12 degrees Celsius.

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

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

uan falling sharply as China improves exchange rate formation system...

China to establish reporting system about HIV infections at schools...

Australia announcing new goals to cut emissions by 26% of 2005 levels by 2030...

In Business…China's auto output, sales lower than market expectations...

In Sports...Badminton's Lin Dan Dominates in opening of 2015 World Championship...

And in Entertainment... Chinese musical 'Terracotta Warrior 3D' making its US debut...

On behalf of the Beijing Hour staffers, I'm Sophie Williams in Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together...