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

Coming up on our program this morning...

Surviving Chinese veterans of the war against Japan are being given cash ahead of this year's 70th anniversary commemorations.

China's state council is putting out a new directive to give workers half-day Fridays to try to bolster summer tourism.

Dutch investigators looking into the downing of flight MH17 last year over Ukraine have confirmed missile components are among the wreckage.

In Business... all eyes will be on the renminbi today after a sharp downturn in its value yesterday.

In Sports... a retirement ceremony has taken place for a Chinese basketball veteran in Beijing.

In entertainment.... new film "The Assassin" has been unveiled in Hong Kong.

Top NewsChina Grants Allowance to WWII Veterans Ahead of V-day CelebrationsAnchorSurviving Chinese veterans of the Sino-Japanese War are set to recieve a one-off payment of 5-thousand yuan in the run-up to China's V-Day celebrations.

CRI's Min Rui has more.

ReporterThe one-time allowance will be given to Communist Party veterans who fought in the battle against Japan during World War II.

Money will also be given to those veterans who fought under the Kuomintang Party.

The one-time payment is expected to be given out to around 50-thousand surviving veterans across China.

Li Zongyuan, deputy curator of the Museum of the War of Chinese People's Resistance against Japanese Aggression in Beijing, says the allowance is a symbol of respect and recognition to their contribution.

"Granting allowance to each veteran means the government recognizes their contribution at a time of war. Five thousand yuan is not a big number. However, for some aging veterans who are living in poverty, it could aid them financially. This is more of a spiritual award meant to give them the sense of respect they deserve, as well as some financial help."91-year old veteran Luo Jianyuan lives in Chongqing.

"I fought five major battles, and was wounded twice. I was never granted 5-thousand yuan back then, which shows just how prosperous our country has now become."This is not the first time the central government has allocated funds to these veterans.

In 2010, 3-thousand yuan was given to war veterans ahead of the 65th anniversary.

Yuan Hong with the Shanxi Provincial Civil Affairs Department the number of surviving veterans in that province has dipped from around 10-thousand in 2010 to around 25-hundred today.

"The fact is the number of veterans has declined sharply. Earlier this year when we tried to confirm which veterans would take part in this year's anniversary celebrations, some of them later had to drop out just days after signing up, as their health became too much of a concern."Many of the surviving veterans of the war are now between 90 to 100 years old.

Chinese Television commentator and host Cao Jingxing says its anniversaries like the one coming up next month which should help young people better-understand the sacrifices the veterans made.

"The spirit of veterans lasts forever but the fact is they are dying. Their numbers are dropping quickly. So, in marking V-Day celebrations, the first thing we should be doing is extending better care to our veterans. Many young people across China believe this, which is very meaningful."Some living veterans are invited to view the parade on site.

A 70th anniversary medal will also be awarded to every living veteran.

They will also be given increased medical assistance in the future.

For CRI, I'm Min Rui.

China publicizes confessions by Japanese war criminalsThe Chinese government has begun publishing the hand-written confessions of a series of Japanese War Criminals.

A total of 31 confessions are going to be printed ahead of the 70th anniversary of the end of the war.

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

The confessions, which have never been released before, detail a series of war crimes, including murder, forced enslavement and the use of biological and chemical weapons during Japan's invasion of China.

Japanese War Orphan Recounts PastAnchorA 73-year-old Japanese war orphan named Nakajima Yuhachi has begun telling his story of being abandoned by his birth parents during the Japanese retreat at the end of World War II in 1945.

CRI's Xiao Yi has more:

ReporterSu 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.

Japanese gov't called on to address comfort women issueNew calls are emerging for Japanese Prime Minister Shinzo Abe to address the "comfort women" issue as part of his much-anticipated speech marking the 70th anniversary of Japan's surrender in World War II.

Professor Kazu Nagai with Kyoto University in Japan also says the Japanese military also needs to take responsibility.

"But it is the Japanese army who started the human trafficking and made those young women do those things, so the army must take responsibility. And the Japanese government must apologize for the comfort women issue."The professor also suggests Abe is facing pressure from his international allies to engage on the issue of "comfort women.""Actually, Abe personally rejects the Kono statement. He believes the Japanese government takes no responsibility towards the comfort women issue. But what Abe cares most about is the U.S. attitude and Americans believe that it will do no good to U.S. interests if Japan denies the statement. So Abe had to admit that Japan will inherit the spirits of the Kono statement even though he didn't say it from his heart."A number of far-right politicians in Japan have been attempting over the years to downplay the scope, or outright deny, the Japanese military's recruitment of forced sexual slaves during the war.

Government Encourages People to Work 4.5 Days a WeekAnchorQuestions are already being raised about a new set of proposals being put forward in China try to try bolster tourism.

Under one of the new proposals, all employers, including government agencies, are being encouraged to give their employees Friday afternoon's off during the summer months.

CRI's Yu Yang explains.

ReporterThe new proposal released by the State Council is calling on employers to let their employees start their time off during the summer a few hours early on Friday afternoons, as long as conditions permit.

Word of the proposal is being applauded by some.

"For those working in high-pressure situations, it will be good for their health, even if a weekend is only extended by less than a day.""People can use this extra time either to travel or to meet with their parents. It surely will bring some benefits."The proposal is among a slew of new measures aimed at promoting tourism-related investment and consumption.

Travel industry observers are suggesting the new proposals could help ease nationwide tourist congestion during the national holidays, or so-called Golden Weeks.

Nanning-based Travel service manager Zhang Yuanyuan says her company has begun to design tourism packages which will fit into a window less than 3-days.

"We predict that short-distance trips around cities would be preferred by our customers, while self-guided and driving tours are also expected to become more popular."However, not everyone is sure the new program will work.

"The changes won't make any difference, because the workload before and after the trip will remain same. Those who take off early will just have to make up the work at a different time.""It won't change anything for the people like me who are not working for government institutions. My vacation times are totally decided on by my boss."A survey by the Ministry of Human Resources shows only around half of Chinese employees actually use their paid vacations.

The same analysis shows party and government organizations, state-owned enterprises and foreign-funded companies are much better at honoring their requirement for paid vacation than private firms.

Xu Guangjian, a professor of public administration studies with Renmin University, says there are numerous reasons for this.

"Employers are worried about costs. Local local governments are often unwilling to give their employees the time off. And many employees tend to just give up their vacations, as they will only make the basic salary during their time off, which is often really low."As part of the new document released this week by the State Council, more tourism infrastructure is going to be built before 2020, including cruise ship ports and parks for recreational vehicles.

Steps are also being taken to make existing tourism facilities better, including public toilets at tourist attractions.

More private investment is also being encouraged in the tourism industry.

For CRI, I'm Yu Yang.

Hainan airlines' turbulence-hit flight injures 30Hainan Airlines is promising follow-up medical care for a group of passengers injured during a flight in China on Monday.

Around 30 people were injured after a flight from Sichuan's capital, Chengdu to Beijing, hit severe turbulence.

23 injured had to be been sent to hospital.

Zhao Shijun with Hainan Airlines says the cabin-crew had no warning ahead of the turbulance.

"Around 25 minutes before arrival in Beijing, the aircraft suddenly encountered clear air turbulence at the aircraft was descending to 42-hundred meters. Medium air turbulence lasted for one to two seconds, and then strong turbulence followed for two seconds. There was no sign of any turbulence in advance."Clear-air turbulance is a phenomenon where winds at different speeds come together.

There are no visual cues, such as clouds, making clear-air turbulance difficult to detect.

Bengbu Publishes lifelong driving ban listThe city of Bengbu in Anhui has published a list of drivers with a lifelong driving ban.

All 40 on the list have been involved in hit-and-runs since the beginning of last year.

Zhu Hao with the Bengbu traffic enforcement detachment says those drivers will not have a chance to skirt the ban.

"This means all the drivers on the list are banned from signing up for driver license exams or regaining the license in their lifetime. Public security organs will register their ID number and previous license number in the network. If they try to sign up again, the process will be frozen."Zhu Hao says they're publishing the list as a warning to the public.

"In this way the public can better supervise the implementation of the lifelong driving ban. We would like to inform the public that things won't be over after the case. The punishment is effective through your whole life."Most of the 40 drivers on the list are young people with a lower level of education.

China pushes for better international co-operation ahead of Global Climate Change Talks in ParisAnchorToday we're bringing you our final report in our series on what's being done in China to try to combat global climate change.

In this edition, we'll hear about China's calls for more international cooperation ahead of the UN Climate Change Conference in Paris later this year.

CRI's Luo Laiming reports.

ReporterChina predicts that its carbon emissions will peak by 2030 or earlier in a set of national emissions pledges submitted to the United Nations in June.

China has promised to cut the nation's energy consumption per unit of economic output by 60 to 65 percent from its 2005 baseline.

The pledge has been eagerly awaited as the country is the world's largest carbon emitter.

Vice President of the Chinese Academy of Engineering Physics, Professor Du Xiangwan says the goals set by China to tackle climate change have been influenced by the country's national priorities.

"We should make it clear that energy conservation and emission reduction is what China needs in terms of China's economic development pattern and the environmental problems that China has faced in recent years. It will not restrict China's economic development. Instead, it will make it possible for China to pursue a model of sustainable development."Professor Du reiterates that China's efforts in dealing with climate change do not necessarily mean an economic slowdown. According to him, China can maintain its economic growth while developing a cost-effective, low-carbon economy.

Also, China is sticking to its consistent stance that the outcomes of the talks on a new climate change agreement should follow the principles of "common but differentiated responsibilities".

Du Xiangwan says this principle is determined by many factors and is widely acknowledged in the world.

"There is no doubt that developed countries are major emitters of carbon dioxide. The carbon dioxide emission per capita of developed countries is much higher than that of developing countries, both historically and in modern times. However, to achieve sustainable development worldwide, every country should make its contribution according to its capabilities and national conditions. "Meanwhile, China is also pushing for greater international cooperation in tackling global environmental problems.

For example, China is deepening its cooperation with the United States and the European Union.

China also offers both financial and technological assistance to other developing countries to help them deal with climate change.

He Jingjing, an assistant researcher with the Chinese Academy of Social Sciences says bilateral and multilateral cooperation will definitely boost the United Nations climate change talks.

"China's collaboration with other countries, like the US send a very important signal to the world that developed countries and developing countries can work together. So I'm sure that China's cooperation with other countries will be very beneficial to the climate change negotiation."China's action on climate change is expected to boost international efforts to reach a new, universally binding climate pact in Paris later in December.

The new pact aims to set a long-term goal of limiting the maximum global average temperature increase to no more than 2 Celsius above pre-industrial levels.

For CRI, I'm Luo Laiming.

48 people killed in blast in NigeriaAt least 48 people are dead following another attack on a market in northeastern Nigeria.

More than 40 others have been hurt in the attack.

The market is near the site where suspected Boko Haram militants killed at least four others over the weekend.

Boko Haram is being accused of sending suicide bombers, including a growing number of women, into crowded markets in the country's northeast.

The radical Islamist group has come under new assaults recently by a coaltion force made up from troops from different countries in the region.

'Missile fragments' recovered from MH17 siteDutch investigators investigating the downing of Malaysia Airlines flight MH17 over eastern Ukraine last year have confirmed, for the first time, that they have found missile parts among the wreckage.

Dutch chief investigator Fred Westerbeke says the wreckage they've found appears to be consistent with what its commonly believed.

"We found seven pieces, seven pieces which we established that they were not part of the airplane, and further investigation gives us now the conclusion that it's probably part of the missile system and of a BUK missile system."Dutch officials say the evidence will be critical in any criminal investigation which may result from the downing of the flight.

MH17 was shot down last year over eastern Ukraine, killing all of the nearly 300 people onboard.

Rebels went on to social media just minutes after the jet came down, boasting they had shot down a Ukrainian cargo plane.

Those messages were removed after it became obvious that a commercial airliner had been shot down.

Moscow continues to insist it was a Ukranian fighter jet which brought down MH17.

Greece agrees "in principal" to a third bailout deal with creditorsAnchorThe Greek government has agreed to the terms of a new bailout deal with its creditors after months of wrangling.

However, the European Commission is warning that it's only "a technical agreement" that still needs to be ratified by the Greek Parliament.

CRI's Poornima Weerasekara reports.

ReporterAfter months of delays, the Greek government has finally agreed to a third bailout deal, which will provide up to 86 billion euros in new credit over the next three years to keep the economy from collapsing.

Annika Breidthardt with the European Commission says there are still some minor details to be sorted out.

"What we have at the moment is a technical level agreement reached by the staff of the institutions and the Greek authorities on the ground following the weeks of negotiations. What we don't have at the moment is a political agreement and that's what we would need."The Greek Parliament is expected to vote on the bailout package on Thursday.

Under the new agreement, the retirement age in Greece will be increased to 67 by 2022.

There will also be further cuts to Greece's social welfare system.

The leftist Syriza government has also agreed to a new round of privatization, which will include the sale of some of Greece's key ports.

Prime Minister Alexis Tsipras has been under fire by his supporters for accepting the agreement, even after voters rejected the terms of a bailout proposal back in July.

However, not everyone is casting blame, with a growing number in Greece suggesting they're ready to accept what comes their way.

"It's like being between a rock and a hard place. The Prime Minister has chosen the path that everybody was wishing for and were against at the same time. I mean everybody was hoping that we remain in the eurozone, but also that new austerity measures will not come. There is no turning back from where we stand.

The Athens Stock Exchange gained 2.2 percent in midday trading on Monday after the Greek government agreed to the broad bailout terms.

That represented the first positive sign for the Athens market in weeks, which has seen almost a quarter of its value wiped out after trading resumed after being shut down for 5-weeks.

Rehabilitating Greek banks and easing restrictions on withdrawals and lending will be the next steps.

Evangelos Sioutis, an analyst for Guardian Trust Securities in Athens, says there are still many uncertainties.

"The future of the market from now on will depend on the details of the deal but also on the political stability - we don't know yet if we are going to have elections or not - and we don't know anything regarding the bank assets in terms of bank recapitalisation."Eurozone finance ministers will meet on Friday to discuss the deal and give the final go-ahead.

Greece needs a deal by August 20th.

This is when a 3 billion euro debt repayment is due to the European Central Bank.

For Cri I'm Poornima WeerasekaraSaudi FM in Moscow for Syria-focused talksRussian and Saudi officials have sat down for a series of talks in Moscow, with the lingering war in Syria one of the main talking points.

Saudi foreign minister Adel al-Jubeir says they're maintaining their position the current administration of Bashar al-Assad is mostly to blame for the current situation in Syria.

"We believe that the main source, the main reason behind the creation of Islamic State was the behavior of Bashar al-Assad because he directed his weapons not against Islamic State but against his own people. That's why we do not see the place for Bashar al-Assad in the Syria future."However, the Russian side continues to maintain its support for the Assad administration.

Russia's foreign minister Sergey Lavrov says they'd like to see a political settlement to the dispute come into being.

"Our position is that all questions of the settlement, including reaching an agreement on the transitional period parameters and political reforms, should be decided upon by the Syrians themselves."The Russian side does say some headway has been made on how to better coordinate international efforts to fight the Islamic State.

Iraqi parliament approves sweeping reform plansThe Iraqi parliament has approved a package of new reforms put forward by Prime Minister Haider al-Abadi.

They're meant to try to reduce corruption and eliminate a layer of senior government positions.

Saleem Al-Jabouri, the Iraqi parliament speaker, says the move will eliminate 3 vice-Presidential and 3 deputy prime minister posts.

"Immediate scrapping of Iraq's multiple vice president and deputy prime minister positions, electing heads of independent committees, under-secretaries, advisers and director-generals away from political and sectarian quotas."The parliament has also approved its own reform package, which calls for the sacking of the current finance minister, as well as a reduction of the number of ministries.

It will also reduce the number of security guards officials can have, and also calls for more reforms the judicial system.

The reforms are being brought in following massive demonstrations in Baghdad and several other cities against slack public services, power shortage, and massive corruption.

WeatherBeijing will be sunny with a high of 35 degrees Celsius.

Overnight temperatures should drop down to 24.

Shanghai will be cloudy with a high of 30 and a low of 24.

In Chongqing, it will see showers during the daytime with a high of 31 and lows of 25.

Elsewhere in the world, staying here in Asia,Kathmandu, slight rain, 27.

Islamabad will see slight rain with a high of 35.

Kabul will be cloudy with a high of 31.

Over to North America,New York will be cloudy with a high of 26 degrees.

Washington, overcast with a high of 30 degrees.

Honolulu, slight rain, 27.

Toronto will be overcast with a high of 22 degrees.

Finally, on to South America,Buenos Aires will have slight rain with a high of 15.

And Rio de Janeiro will be cloudy with a high of 25 degrees Celsius.

Headline newsChina grants allowance to WWII veteransSurviving veterans who fought during the war against Japan are being given 5-thousand yuan each as a stipend.

The money is going to be delivered to the roughly 50-thousand surviving veterans before the September 3rd anniversary.

The government says the move is meant mostly to honor the veterans.

A series of events to mark the anniversary are taking place in China, which will culminate with a massive military parade on September 3rd in Beijing.

Preparations for that parade are already underway around Tian'anmen Square in central Beijing.

China Holds Forum on China-Pakistan Economic CorridorA forum connected to the creation of a China-Pakistan Economic Corridor is underway in Xinjiang.

The two-day event, the first of its kind, will mainly address industrial cooperation and youth exchanges between the two sides.

A number of cooperation agreements are expected to be signed.

The corridor is a major project as part of the Chinese government's Belt and Road Initiative.

It will link Pakistan's Port at Gwadar with Xinjiang through highways, railways and pipelines.

48 people killed in blast in NigeriaAt least 48 people are dead following another attack on a market in northeastern Nigeria.

More than 40 others have been hurt in the attack.

The market is near the site where suspected Boko Haram militants killed at least four others over the weekend.

Boko Haram is being accused of sending suicide bombers, including a growing number of women, into crowded markets in the country's northeast.

The radical Islamist group has come under new assaults recently by a coaltion force made up from troops from different countries in the region.

New Round of Talks on Libya BeginsA new round of talks designed to bridge the divide in Libya are underway in Geneva.

United Nations envoy for Libya, Bernardino Leon, says a national unity government needs to be formed.

Libya has been divided between more secular and religious factions since the fall of long-time leader Muammar Gaddafi in 2011.

It has been split between an elected parliament in its far east and an Islamist-led government that controls the capital of Tripoli.

The UN has brokered several rounds of talks between the two sides for close to a year.

However, little headway has been made.

Observers say the divide and continued unrest has allowed Libya to become home to new extremist elements, including a growing number of supporters of the Islamic State.

Beijing police say missing college girl killed by schoolmateBeijing police say they've arrested a student from Communications University of China in connection with murder.

Authorities say the young man has confessed to the killing of the young girl.

Police say he killed her after an attempted rape.

The incident came to light after authorities began investigating a missing person's call on Monday.

Biz ReportsAnchorTurning onto business news. First, a quick look at the closing numbers across North America and Europe as well as a recap on the Chinese market.

Joining me on the desk, Luo Wen.

ReporterU.S. stocks declined on Tuesday as the Chinese yuan fell drastically in value following a central bank decision to improve the yuan's central parity system.

We will have more on the central bank's move shortly.

The currency move by the world's top metals consumer pushed copper and aluminum to six-year lows.

The S&P materials index dropped 1.9 percent, leading sector declines for the S&P 500.

Crude oil futures in New York ended at a more than six-year low as crude output from OPEC increased in July.

The organization is reporting crude production increased by 101-thousand barrels per day to average 31.51 million barrels per day.

China's currency adjustment also hit companies with a big exposure to China.

Apple shares fell 5.2 percent in its biggest daily percentage decline since late January of last year.

Yum Brands shares fell 4.9 percent.

General Motors shares fell 3.5 percent.

In other corporate news,Shares of Google jumped 4.1 percent following its announcement that Alphabet will replace Google as the publicly-traded entity.

While Alibaba shares fell 3.9 percent.

At the close,The Dow Jones closed 1.2 percent lower.

The S&P 500 shed one percent.

The Nasdaq lost 1.3 percent.

Meanwhile, European stocks ended lower on Tuesday, with German shares getting hammered by news that China has devalued its currency, offsetting news of a technical agreement in Greece's bailout deal.

At the closing bell,The UK's FTSE 100 slipped 1.1 percent.

Germany's DAX tumbled 2.7 percent.

France's CAC 40 declined 0.3 percent.

Finally here in China,Shares closed mixed with the benchmark Shanghai Composite Index dropping mildly.

While the smaller Shenzhen Component Index gained 0.2 percent on the day.

Chinese yuan weakens sharply after exchange rate system reformAnchorChina's central bank insists one of the sharpest drops in the value of the renminbi this week is a one-off incident.

The Chinese currency lost over a thousand basis points on its value on Tuesday after changes were brought in to the way the People's Bank of China calculates the daily parity rate it sets for the currency.

The RMB's daily central parity quotes are now being based on the closing rate of the inter-bank foreign exchange rate market, as well as on the price movements of other major currencies.

The reminbi is now trading at some 6.23 against the U.S. dollar.

For more on the reforms of the RMB's exchange rate, CRI's Sophie Williams spoke earlier with Shen Hong, Wall Street Journal's Shanghai Bureau chief.

Back AnchorThat was Shen Hong, Wall Street Journal's Shanghai Bureau chief, speaking with CRI's Sophie Williams.

Letv Super BicycleLetv.com has teamed up with Tianjin-based bicycle maker Flying Pigeon to produce a "super bicycle."Li Dalong, vice-President of LeTV's Sports Division, says the so-called "super bicycle" is a unique product.

"The bike we are exhibiting today is the first of its kind. We have spoken in the past about how, in the future, we would like to produce new sports video cameras and lot of other modern sportswear. We hope that through the beauty of sports, exercise through advanced technology can give our customers more choices. I am very happy to say that starts with our super bicycle"The bicycle itself includes an array of smart functions, including a built-in music player, a navigation system and social networking options.

Lower level "super bikes" are going to cost between 4 and 6-thousand yuan.

However, a luxury version of the bike can cost upward of 40-thousand yuan.

It's due to retail in both China and in North America.

U.S. Charges Nine in Hacking, Insider Trading SchemeU.S. prosecutors have charge 9 people for their alleged role in a hacking scheme to obtain corporate press releases before they were made public.

The scheme is said to have generated more than 30 million U.S. dollars of illegal trading profits for the group.

Paul Fishman is the US Attorney for the District of New Jersey.

"In two indictments, one returned here in the District of New Jersey and one in the Eastern District of New York charging a total of nine individuals, we allege that the conspirators stole more than 100,000 news releases, traded ahead of more than 800 releases and made more than 30 million dollars."The group consists of two people described as Ukrainian computer hackers, six stock traders and a real estate developer.

Prosecutors say that for more than 5-years, the hackers gained access to news releases that were about to be issued by Marketwire, PR Newswire and Business Wire.

The new releases contain earnings figures and other information from a multitude of companies.

The traders then used the information to make trades before the releases came out, exploiting a time gap which can range from hours to three days.

Indonesia close to decision on rail linkThe Indonesian government is reportedly now studying proposals from both China and Japan for the construction of a new high-speed rail line in the country.

Indonesian authorities are expected to decide which proposal to accept within the next 2-weeks.

The rail link will connect the capital Jakarta to Bandung.

It is part of a 750-kilometer high-speed train project that will cut across four provinces on the main island of Java, ending in Indonesia's second-largest city - Surabaya.

Both China and Japan have offered low interest loans and other perks to secure the rail contract.

The Chinese side is offering Indonesia 50-year loans at an annual interest rate of 2 percent to help finance the project, the cost of which will be around 5.5-billion US dollars.

China is also promising 40-thousand new jobs in Indonesia for every year of the line's construction.

Meanwhile, Japan International Cooperation Agency is reportedly offering loans of 4.4 billion U.S. dollars over a 40-year repayment period and an annual interest rate of less than 1 percent.

SportsRetirement Ceremony of Mengke Bateer Held in BeijingIn off-court basketball news,A retirement ceremony for famed Chinese basketball star Mengke Bateer has been held at the Master Card center here in Beijing.

The 39-year-old Bateer announced his retirement on July 28th.

Bateer is the only Chinese basketballer to have played in the NBA without being taken in the NBA draft.

He is also the first Chinese basketballer to have been on a NBA championship-winning roster.

Bateer was with the San Antonio Spurs when they won the NBA championship in 2003.

The only other Chinese basketballer to have accomplished this is Sun Yue, who was on the Los Angeles Lakers roster when they won the NBA championship in 2009.

Bateer, an ethnic Mongolian, is often referred to as the 'Walking Great Wall,' as he was an accomplished shooter as a strong center, though his foot speed left a lot to be desired.

CSL RecapIn football action from Chinese Super League,Hangzhou Greentown hammered Shanghai Shenhua 4-1, ending Shenhua's 6-game unbeaten streak.

27-year-old Chen Po-Liang broke open the scoring in the 7th minute for Hangzhou.

it's significant because it represents the first goal scored in by a player from Taiwan ever in the Chinese Super League.

With the 4-1 victory, Hangzhou Greentown jump to 11th spot in the league.

Shanghai Shenhua is mid-pack with 32 points.

Shenhua's city rivals Shanghai SIPG lead the standings with 45 points.

In other action,Chongqing Lifan drew with Guizhou Renhe 1-1.

Guangzhou R&F tied with Changchun Yatai 2-2.

Shanghai Shenxin edged Liaoning 2-1.

---------------In European football action.

Barcelona has defeated Sevilla 5-4 in extra time to lift the UEFA Super Cup earlier this morning.

Lionel Messi scored twice and set up the winning goal for Barcelona in the victory.

Barcelona has set a record by winning the Super Cup for a 5th time.

It is also the highest-scoring Super Cup match ever, outscoring Juventus' 6-1 thrashing of Paris Saint-Germain in 1996.

Guangzhou Evergrande confirm Hao Wei's moveIn off-pitch football news,Chinese Super League defending champions Guangzhou Evergrande has confirmed the former head coach of China's women's national soccer team will be joining the club.

Hao Wei will take over as the head coach of Evergrande's junior squad, and will also act as an assistant for the big club.

Hao Wei announced his departure as China's women's national head coach after this month's disappointing result in the East Asian Cup.

He became head coach of the Chinese women's soccer team in 2012.

-----------In European football news,Stoke City have completed the signing of Switzerland winger Xherdan Shaqiri for a club-record 17 million dollars.

The 23-year-old had spent just 7-months at Inter Milan after joining the Italian giants from Bayern Munich in 2012.

This marks Stoke's eighth signing of the summer.

Lin Dan Advances at TOTAL BWF World ChampionshipsIn badminton action from the BWF World Championships in Jakarta, Indonesia.

Chinese star Lin Dan is through to the next round, hammering past an unseeded American.

Lin Dan says its his impending competition from Asia which has him more concerned.

"The men's singles players from Japan and India have made significant improvements recently. So I have to give my one hundred percent in order to beat those young players."Next up for Lin Dan is world number 75 Daniel Paiola from Brazil.

In other action,Malaysian star Lee Chong Wei has eased through to the second round after dumping a Lithuanian competitor in straight sets.

The former world number one has returned to competition following an eight-month ban for doping.

Lee Chong Wei has not won a World Championship or Olympic title.

-------------On the women's side,China's Li Xuerui made it to the second round after a 21-10, 21-11 win over Petya Nedelcheva from Bulgaria.

Defending champion Carolin Marin is also through, but needed three sets to down a Malaysian qualifier.

The top seed will next play Pai Yu-Po from Taiwan.

-------------In mixed doubles,China's Liu Cheng and Bao Yixin managed to get through a duo from Japan.

Another Chinese duo of Zhang Nan and Zhao Yunlei are also through, overwhelming a pair from Canada.

Azarenka defeats Svitolina in first-round of WTA Rogers CupIn tennis,Serena Williams has rallied to advance to the third round of the WTA Rogers Cup in Canada by defeating Italy's Flavia Pennetta in a three set affair.

This is William's 7th successive win against Pennetta.

This is also the 725th career win for the world Number-1.

Williams is the first player through to the third round of the Rogers Cup.

She's looking for her 4th career win in Toronto.

In other action,Victoria Azarenka of Belarus has reached the second round after a straight sets win over Elina Svitolina.

Azarenka is joined by Roberta Vinci, Ekaterina Makarova, Sara Errani and Alize Cornet.

Chinese teenager wins shooting World CupIn shooting,Chinese youngster Cao Lijia has clinched her first international title by winning the women's 25-meter pistol event at the shooting World Cup taking place in Azerbaijan.

Her teammate, reigning world champion Zhang Jingjing, took bronze.

On the men's side,China's Mai Jiajie finished on top of the men's 50m pistol final.

South Korean players took the silver and bronze medals in that event.

-------------2008 Olympic champion Walton Eller from the United States has claimed the title in the men's double trap event.

This marks his first World Cup gold medal since 2007.

EntertainmentHou Hsiao-hsien, Shu Qi, and Chang Chen at the premiere of 'The Assassin' at the Summer International Film FestivalCannes winner Hou Hsiao-hsien unveiled his latest film, "The Assassin," to his Hong Kong audience on Tuesday, at the start of the Cine Fan Summer International Film Festival.

Taiwan actress Shu Qi and actor Chang Chen, who play the leading roles, accompanied the director to the event.

In "The Assassin," Shu Qi stars as the Tang Dynasty assassin, Nie Yinniang.

She talked about the difficulties she faced when filming some action sequels.

"Because of this film, I have learnt deeply that it is very tough to be an action movie actor. Apart from knowing how to fight, you have to overcome many difficulties like speed, height and power. I think this is not something ordinary people can do. So whenever I do the filming I appreciate and admire those action movie stars very much."The movie premiered at the Cannes Film Festival in May 2015, where Hou was crowned Best Director.

The film is scheduled for release on August 27 in China.

Scorsese, DiCaprio to adapt 'Devil in the White City'

Erik Larson's bestselling novel "The Devil in the White City" is finally headed to the big screen, with Martin Scorsese directing and Leonardo DiCaprio playing the led role.

Paramount Pictures confirmed on Monday that it has commissioned the work based on Larson's best-seller, which has long been a hot property in Hollywood.

The screenplay will be adapted by Billy Ray, who scripted "Captain Phillips" and "The Hunger Games."DiCaprio will play one of the most prolific serial killers in Chicago history, the 19th century equivalent of Hannibal Lecter. DiCaprio says it could turn out to be a career-defining role.

The film marks the sixth feature together for Scorsese and DiCaprio, who last worked together on "The Wolf of Wall Street."New Princess Diana wedding photos for saleAs the 18th anniversary of the death of Princess Diana approaches, a private auction house in London is offering never-before-published wedding pictures of the former Princess of Wales.

These photos show Queen Elizabeth II, her new mother-in-law, walking beside her down a painting-lined corridor of the palace.

Another photos shows Prince Charles in the highly decorated military uniform, which he wore for his first wedding at St Paul's Cathedral in 1981.

There is another photo of Diana, comforting the youngest bridesmaid, the 5-year-old Clementine Hambro.

The official pre-auction estimate for the sale is between 1,000 and 2,000 US dollars per piece.

But auction house executives say it could go much higher.

A single rare photo of a teenage Diana sold at an auction in October 2014 for slightly more than 18,000 US dollars.

The 'Queen of Soul' cancels Friday night show in Las Vegas due to exhaustionAmerican singer and musician Aretha Franklin has canceled her Friday-night show in Las Vegas because of exhaustion.

The 73-year-old singer said in a statement Tuesday that she has to reschedule the show due to fatigue after driving her bus from Detroit to the West Coast for concerts.

Franklin achieved commercial acclaim and success with songs such as "Respect", "A Natural Woman" and "Think".

She was widely known as "The Queen of Soul" since the late 60s.

Franklin has won a total of 18 Grammy Awards and is one of the best-selling female artists of all time, having sold over 75 million records worldwide.

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

Recapping our top stories this morning...

Surviving Chinese veterans of the war against Japan are being given cash ahead of this year's 70th anniversary commemorations.

China's state council is putting out a new directive to give workers half-day Fridays to try to bolster summer tourism.

Dutch investigators looking into the downing of flight MH17 last year over Ukraine have confirmed missile components are among the wreckage.

In Business... all eyes will be on the renminbi today after a sharp downturn in its value yesterday.

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