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

Coming up on our program this morning...

Rains in Tianjin are creating new concerns about pollution coming from the blast zone in the city.

Thai police have released images of the person thought to be responsible for a bombing which has left 20 dead, including 6 from China.

A new development forum is underway in Xinjiang.

In Business... a pair of Chinese companies are under investigation for suspected securities violations..

In Sports... a new head of the IAAF is to be elected later today in Beijing.

In entertainment.... a new film is now sitting at the top of the Chinese box office.

Top NewsRain in blast city Tianjin raises pollution fearsAnchorAuthorities monitoring the clean up around last week's massive explosions in Tianjin are suggesting yesterday's rains have not created any major problems for either the search and rescue personnel, or the environment.

CRI's Min Rui has more.

ReporterOne of the major concerns at the blast site has been rain water.

It's been feared it could activate some of the chemicals still scattered around the site, leading to new explosions and creating more environmental concerns.

Volatile Phenol, a toxic chemical, has been detected in water samples collected near the Port of Tianjin for the first time.

But at the same time, levels of Sodium Cyanide have been decreasing.

This is a chemical, when mixed with water, can create a fatal gas.

The discovery of a mysterious white foam on a road near the blast site on Tuesday has generated a lot of concerns in Tianjin.

Bao Jingling, chief engineer with Tianjin's bureau of Environmental Protection, says site monitoring shows there is little to be worried about.

"Mud and dirt mixed with the rain. However, our analysis shows the water quality is within normal range. We did have some slightly elevated levels of toxins. This is likely because of the rain."A series of cofferdams have been set up around the blast site to prevent contaminated water from making it into the ocean.

Bao Jingling says steps were taken in anticipation of Tuesday's rainfall.

"We prepared to deal with the possibility of rains two days ago. We drained off the sewage in the area to make space for the rains."The rains have been affecting the overall cleanup efforts.

Meanwhile, its been confirmed the large quantities of sodium cyanide stored at the site belongs to a mining company from Hebei.

The Hebei Chengxin Corporation has sent in 140 of its staffers to help with the clean-up.

Chengxin's Zhou Lijie says hydrogen peroxide is the best way to counteract sodium cyanide.

"When sodium cyanide meets hydrogen peroxide, it generates sodium bicarbonate. This chemical is safe enough to be used in steaming buns. It is non-toxic and harmless. The chemical reaction does create ammonia, but it disapates very quickly. It's much safer than allowing Sodium Cyanide to mix with water."Around 340 chemical experts are on-site helping deal with the situation.

The central government has also established a team to investigate what caused the initial fire and explosions.

Ten executives of Ruihai Logistics, the company which ran the warehouse which exploded, have been formally arrested.

For CRI, I'm Min Rui.

New Rules on Officials' Environmental ResponsibilityAnchorQuestions about the effectiveness of new environmental rules are being raised in connection with last week's deadly blasts in Tianjin.

CRI's Luo Bin reports.

ReporterThe regulations, brought on August 9th, just days before the warehouse explosions in Tianjin, are meant to back-track environmental problems to government officials who may be ultimately responsible.

The language in the new regulations state that "officials will be held accountable for serious environmental problems resulting from improper implementation of policies, as well as violations of laws and regulations.""An official will also be held responsible for failing to effectively carry out supervision or who approves environmentally-poor projects."However, the new regulations don't contain specifics when it comes to punishments.

Chai Fahe with the Chinese Academy of Environmental Science Research suggests heavy punishments be need to be put 'on the table,' given the pollution problems in China.

"I've been told the new regulations are promising the strongest punishments ever considered for officials responsible for environmental damage. It's necessary, considering the severe pollution problems we are facing. This is the only way we can guarantee safe water, clean air and unpolluted soil."The new regulations do cover all officials, regardless of their political affilitions.

Zhuang Guotai is with the Ministry of Environmental Protection.

"A party chief of a city has as much power as the mayor has. It's why they should be equally held responsible if their decisions or actions pose environmental problems."The new rules do also promise retroactive punishments for officials.

However, observers in China are suggesting the regulations need more specifics they're to be effectively enforced.

It's still unclear whether those found responsible for the Tianjin Port disaster are going to be held to the new standards.

For CRI, I'm Luo Bin.

Thai police say CCTV footage shows Bangkok bomberAnchorThai police have issued images of a suspect thought to be behind this week's deadly bombing in Bangkok which has left 20 people dead, including 6 Chinese nationals.

CRI's Poornima Weerasekara has moreReporterThe footage, from a closed-circuit camera, shows a man in a yellow shirt leaving a backpack inside the Erawan Hindu shrine.

Several photos of the suspect have since been circulated by Thai Police on social media.

Other video footage posted on Thai media also appears to show the suspect sitting on a bench at the shrine, then taking off the backpack and leaving it behind.

At least 20 people, including 6 Chinese nationals, were killed in Monday night's bombing.

More than 120 others were hurt.

Aside from the Chinese victims, foreigners from the UK, Indonesia, Malaysia and Singapore are also among those killed.

Although about half of the casualties are foreigners, Thai Foreign Secretary Norachit Singaseni is moving to try to downplay the idea the attackers were targeting tourists.

"Well, what occurred in a central site of Bangkok. It is frequented by Thais and foreigners as alike. I'm not in a position to state that it was targeted at tourists. That's all I can say."But in a separate attack on Tuesday, an unidentified man threw an explosive device at a ferry pier in Bangkok that is often used by tourists.

No-one was hurt in the incident.

It is unclear whether the two blasts are connected.

Thai Police say the second explosion was caused by the same type of bomb as the one earlier.

Norachit Singaseni with the Thai Foreign Ministry says more military personnel may be deployed in Bangkok to enhance security in the aftermath of the twin attacks.

"If such incidents occur and the presence of police or military personal could make the people feel safer, then it's one measure that would be considered. But if the situation is, that the authorities feel is under control, then the police will continue to do their job."So far no one has claimed responsibility.

Thai Prime Minister Prayut Chan-Ocha is on-record saying security forces are looking for a suspect believed to be from an "anti-government" group based in Thailand's northeast"The northeast region of Thailand is a stronghold of the so-called "Red Shirt" movement.

This is the political faction loyal to ousted Prime Minister Yingluck Shinawatra, who was toppled by the military in a coup in May of last year.

Thailand is also fighting a decade-long rebellion in its southern provinces.

Regardless of who is behind the attacks, sympathetic Thais have turned out in Bangkok to pay tribute to those killed.

"I want to tell Thais, don't be angry, don't hate, because that will fit into what the perpetrators want. At this moment let's show our care and love for one another. That's better."Despite the political unrest which has gripped the country for years, Monday's explosion in Bangkok is the deadlist in recent history.

For Cri I'm Poornima WeerasekaraThai government announces compensation for blast victimsThe Thai government has announced its planning to provide close to 85-hundred US dollars in compensation to the families of those killed in Monday night's explosion in central Bangkok.

The Thai government will also give 100-thousand baht, or about 28-hundred US dollars, to the survivors to cover their medical expenses.

Thailand's goverment says its also going to pay for the transportation and accommodation of the families of the victims.

China's work safety chief under investigationThe former vice-Mayor of Tianjin has become the latest official to be scooped up in the government's crackdown on corruption.

The current head of the Chinese Work Safety department, Yang Dongliang, is under investigation for "severe violations of discipline and law".

This is the term commonly used to describe an investigation for graft.

Allegations against Yang Dongliang have not been put forward.

The 61-year-old served as vice mayor of Tianjin from 2001 to May 2012 before being made the head of the State Administration of Work Safety.

Former vice governor of Jiangxi stands trial for briberyThe former vice-Governor of Jiangxi has stood trial on charges of accepting bribes in Xiamen.

"I accept the accusations against me and confess my crimes sincerely to the Communist Party, Chinese people and laws. I accept the punishment that I deserve. It was the party and people that cultivated me to step into a leading position. I should have worked harder to serve and repay them, but I failed to do that. I feel I've let them down."Yao Mugen is accused of using his position as the vice-governor of Jiangxi of taking bribes worth over 3.5-million US dollars.

He was stripped of his title last year as part of the Chinese government's massive crackdown on corruption.

Navies Ready for China-Russia DrillsAnchorA large-scale naval exercise involving the Chinese and Russian navies is set to get underway tomorrow.

CRI's Luo Wen reports.

ReporterThe drills are scheduled to last for 9 days.

They'll be taking place in the waters off the east coast of Russia.

Simulations of anti-submarine warfare, air defense and joint beach landings are set to take place.

The drills come around a decade after China and Russia's militaries did a similar beach landing exercise in the coastal Chinese city of Qingdao.

Chinese Naval observer Yin Zhuo says the drills are not easy to coordinate.

"Landing operations are hard to organize. They consist of complicated procedures and require precise coordination between landing forces and fire support units under a unified command."This year's drills will represent the first time the Chinese military has sent warships from all of its three fleets for an exercise with a foreign country.

Yin Zhuo says the exercises will give the Chinese side a good chance to learn.

"It's a good opportunity for all the ships in the three fleets to work with their Russian counterparts. They can learn and improve themselves. At the same time, it will also give them a chance to familiarize themselves with the Sea of Japan, where they may end up sailing more frequently in the future, given its position."This is the second time this year the Chinese and Russian navies have taken part in joint operations.

Both sides teamed up for joint naval exercises in the Mediterranean in May.

Seven Chinese warships will arrive at the Russian port of Vladivostok on Thursday, along with six helicopters, five fixed-wing aircraft, 21 units of amphibious equipment and 200 marines.

The Russian side will send 16 surface ships, two submarines, 12 naval aircraft, nine amphibious vehicles and 200 marines.

For CRI, I'm Luo Wen.

2015 China Xinjiang Development Forum kicks off in UrumqiThis year's Xinjiang Development Forum has opened in the regional capital, Urumqi.

The Chinese government's Silk Road Economic Belt is high on the agenda.

Afrasiab Khattak, former Pakistani Senator, says the development of the Silk Road program is going to be a big help to countries in Central and Southern Asia.

"Because China is going to share its development with its neighboring countries, in terms of investment, in terms of technology development, in terms of experience of social development, so all this is very significant, valuable for the neighboring countries."Former Canadian Prime Minister Stockwell Day is among those who are taking part in the event.

"When you trade goods you also trade ideas, and the rest of the world will increasingly see it because of this area being a hub for the silk road. The rest of the world will benefit from the skills, history, and what people have to offer here."This year's development forum in Xinjiang has attracted people from 30 different countries.

Taiwan famers go high-tech in the hope of growing better cropsAnchorNew technology is being used in Taiwan to help farmer grow better crops, utilizing lab technology to keep the dirt from under their fingernails.

CRI's Yu Yang has more.

ReporterMeet Chang Chen-kai, one of a new generation of high-tech farmers in Taiwan.

Rather than toiling in the fields, Chang works in an air-conditioned room at a plant factory operated by Taiwanese biotechnology company, ARWIN.

It's one of a growing number of plant factories in Taiwan which grows vegetables under LED lights.

Here, plants are grown in closed environments, meaning growers can control temperatures, humidity, nutrients and water, all the while using LEDs as the only light source.

Chang says that leads to many advantages.

"The advantage of LED-grown plants? To grow plants in the soil outdoors, you would need much more land for plantation. But to grow vegetables in the water, you need less land and even less space. And to grow plants outdoors, you would need to use pesticides often, but in here you don't need pesticides as the room's environment is all controlled."In a similar way to hydroponics, these LED-grown plants are cultivated without soil.

Instead they use mineral nutrient solutions in the water.

In the past few years, Taiwan has seen a boom in its LED industry.

Taiwan manufacturers have made LED lights which consume less energy and have a broad-spectrum that closely mimics the intensity and spectrum of natural sunlight.

With their low cost and natural-looking light, many now see LED lights as a viable option in the agricultural sector.

TingMao Agricultural Biotechnology started their plant factory in 2007. Today they're a leading producer of LED-grown vegetables in Taiwan.

One of their most popular products is this 'ice plant', a thick, leafy vegetable from South Africa. It's sold for 400 US dollars a kilogram.

The factory now produces a variety of exotic vegetables after extensive research into various light settings, temperatures and nutrients certain crops require.

According to company's CEO Lawrence Lo, Taiwan is well placed to become an international leader in terms of high-tech plant factories.

"Actually, Taiwan has an advantage on this, because we have a well-developed lighting industry, environmental-control equipment industry and many other electrical appliance industries. These are all the things that a plant factory would need."TingMao has up to 5,000 members and restaurant operators who order vegetables directly from them.

Aside from manufacturing various products, the company has also set up their own restaurant which uses vegetables from the factory.

Some restaurant customers are assured of the benefits of LED-grown vegetables in comparison to traditional ones, despite the higher price tag.

Long Si-wei is a restaurant customer.

"This fresh vegetable not only tastes good, but it's also trouble-free. You just take them out and eat them right away."But Food writer and Professor at Innovative Institute of Technology, Lily Chang isn't so convinced. She thinks vegetables grown in the soil benefit from all sorts of minerals in the ground.

For CRI, this is Yu YangUN checking reports that AT&T helped NSAThe United Nations is preparing to respond to reports US telecom provider AT&T allowed the US National Security Agency to wiretap all Internet communications at the UN's headquarters in New York.

Vannina Maestracci with the United Nations says the reports are troubling.

"We have seen the report in the New York Times and obviously as we've said here before the inviolability of the United Nations is well established under international law and we expect member states to act accordingly and to respect and protect that inviolability. The United States authorities had previously given us assurances as to the fact that they are not and are not monitoring our communications."The New York Times report claims AT&T provided technical assistance to the NSA to carry out a secret US court order that permitted the wiretapping of all Internet communications at the UN headquarters.

The NSA's involvement in a series of spying scandals emerged after its ex-contractor Edward Snowden leaked its classified information two years ago.

German lawmakers' skepticism on a rise for the third Greek bailoutGerman Chancellor Angela Merkel is working to try to shore up support in her own country for bailing out Greece for the 3rd time.

Merkel is also facing opposition within her own party.

Klaus Willsch is a German MP with Merkel's Christian Democrats.

"I will vote 'no'. An important reason for the people of my party who thought that they could justify the third bailout package no longer applies, because the IMF is out. The IMF is out because they say there is no debt sustainability Greece can provide. "At the same time, Merkel is still pushing to convince the International Monitary Fund to contribute to the new bailout package.

However, IMF chief Christine Lagarde is on-record saying this could only happen if Germany and the rest of the eurozone agree to ease the terms of Greece's debt.

Turkey's AK Party confirms Davutoglu to give up mandate to form new governmentTurkish Prime Minister Ahmet Davutoglu has officially given up trying to form the next government.

AK Party spokesperson Besir Atalay says a new election is likely.

"It was not possible to form a coalition government after all these talks. Therefore, today our Prime Minister will relinquish the mandate to the President. Our party's executive committee shares this view".

This comes after weeks of failed coalition talks.

Davutoglu had been trying to find a junior coalition partner since his AK Party lost its parliamentary majority in June's election.

This has left the ruling party unable to govern alone for the first time since it came to power in 2002.

If no government is formed by Monday, a new election will have to be set for the fall.

Libyan foreign minister calls for aid from allies at Arab LeagueLibya's internationally-recognized government is issuing a new call for the Arab League to step in to help battle Islamic State forces said to be taking hold in the Libyan city of Sirte.

Foreign Minister Mohammed al-Dairi has made the request at an Arab League meeting in Cairo.

"We issued a statement and we clearly asked Arab nations to support us by performing air strikes against Islamic State, following on from what I said earlier; air firepower capabilities are non-existent to take part in air raids over Sirte. However, I want to reiterate that the danger of Islamic State and terrorism in Libya is one that threatens Tunisia, Algeria, Egypt, Chad, Niger and Sudan and all neighboring states. Europe now knows the imminent danger from this terrorism."Fighters allied with the Islamic State have managed to turn back an uprising by armed groups hoping to retake the city.

Radical militant factions have been growing in Libya since the ouster of former leader Muammar Ghaddafi in 2011.

The country's political leadership is currently divided between an Islamist-dominated group which controls the capital, Tripoli, and a secular grouping which operates out of the country's eastern regions.

Tea Consumption in UK Eyes a DeclineAnchorOnce the backing of trade between China and the UK hundreds of years ago, new research is suggesting the British love of tea may be dwindling.

Our Natalie Powell has more.

ReporterThe British have been drinking tea for 350 years….

Clinks of china cups full of hot tea are often heard in millions of UK households and at the tables of cafes.

But over the past five years, UK tea consumption has been in decline. Here's Emma Clifford from the Mintel Research Group talking about their findings:

"We saw there was an ongoing decline in the tea market, volume sales were down 22% in the last 5 years, so quite a significant drop, that's because standard black tea that dominates the market is becoming less and less popular, particularly among the younger generation."And many in the food and drink industry have started to notice patterns in the British beverage consumption habit….

Frenchman Phillipe Bloch, owner of BB bakery in London's Covent garden says he's seen Britons opting for coffee or other beverages instead of tea….

"As a French also coming to London I thought everyone drinks tea, I was actually quite surprised that it's not the case, a lot of people drink coffee. We have seen in our bakery we see a different pattern, in the morning mainly a coffee. At lunch time, half and half, or 60% coffee 40% tea and in the afternoons if people come just for a coffee and scone or tea and cake, again maybe 50-50."But while tea consumption may be in decline, new methods of serving traditional afternoon tea, which is accompanied by sandwiches and cakes, are proving very popular.

BB Bakery's business has expanded and they're offering a rather unusual experience - afternoon tea on a double decker London bus.

"Basically mixing three landmarks of London, famous afternoon tea, the famous landmark route master 1960s busses and touring London, so we mix-mach these things, extremely successful."The 22 per cent decrease in UK tea consumption is not quite so bad for China, India and other tea producing nations though as it might appear.....the value of the UK tea market in financial terms has fallen 6 per cent over the past five years, due to the increasing demand for fruit, herbal and green teas which command a higher price.

Emma Clifford from the Mintel Research Group predicts that, going forward, the decline in black tea sales will slow, and sales of specialty teas will increase.

"We've seen a shift in the market away from the standard black tea and towards the slightly more exciting and interesting alternative teas, so sales of specialty teas are increasing, they're very popular among young people so expecting the sales of these types of teas to continue."Research suggests that more innovation in the tea industry is needed … so whether that's developing and marketing new tea products, or introducing quirky ways of drinking tea - such as on a double decker bus tour of London. It's these sort of things that could help reverse the UK tea drinking pattern.

For CRI I'm Natalie Powell in LondonGerman Kidnapped Girl Confirmed DeadPolice in eastern German state of Saxony have confirmed a girl reportedly kidnapped last week has been found dead.

Dresden police chief Dieter Kroll says the girl's body was found on Tuesday.

"Hopes, these measures and accompanying prayers have unfortunately not been successful. After finding the dead body of a young woman yesterday evening in Lampersdorf, it is now confirmed, sadly but certainly that Anneli-Marie is dead. She became a victim of a killing crime."The 17-year-old was reported missing on Thursday.

Two suspects are in custody.

Police say the suspects demanded over 1 million euros ransom from the girl's father.

Authorities have not said who the girl's family is.

Ecocapsule New Home for TravellerA team of Slovak architects have developed a completely self-sustaining home that can be moved and placed in nearly any environment around the world.

The egg-shaped unit is designed to take up minimal space, allowing the owners to travel anywhere on the earth while enjoying the luxury of a hotel room.

Tomas Zacek is one of the capsule's co-inventors.

"The philosophy of this object is very simple - independent living in nature, something like the pioneers in America who used to go far away and live "off the grid". This is free living without any permanent connection."The so-called "Ecocapsule" is equipped with a dual-power energy system, bypassing periods of low energy production with a massive battery capacity that allows it to store surplus energy for later usage.

WeatherBeijing will see thundershowers with a high of 28 degrees Celsius.

Overnight temperatures should drop down to 20.

Tianjin will have thundershowers with a high of 28 and lows of 23Shanghai will be cloudy with a high of 32 and a low of 26.

In Chongqing, it will have showers during the daytime with a high of 25 and lows of 22.

Elsewhere in the world, staying here in Asia,Kathmandu, slight rain, 26.

Islamabad will be cloudy with a high of 34.

Kabul will be cloudy with a high of 32.

Over to North America,New York will be cloudy with a high of 30 degrees.

Washington, slight rain with a high of 28 degrees.

Honolulu, slight rain, 28.

Toronto will be overcast with a high of 28 degrees.

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

And Rio de Janeiro will have slight rain with a high of 29 degrees Celsius.

Headline newsChina condemns Bangkok blastChina has expressed strong condemnation of the explosion that hit downtown Bangkok on Monday night.

Chinese Foreign Ministry spokesperson Hua Chunying conveyed deep condolences to the victims and their families along with sympathies to the wounded.

She added that the Chinese embassy is maintaining contact with the Thai government, and urging Thai authorities to investigate the incident, find out the cause.

Thai Prime Minister Prayut Chan-o- cha has vowed to expedite all investigative efforts to find the perpetrators of the explosion.

Thai government announces compensation for blast victimsThe Thai government has announced its planning to provide close to 85-hundred US dollars in compensation to the families of those killed in Monday night's explosion in central Bangkok.

The Thai government will also give 100-thousand baht, or about 28-hundred US dollars, to the survivors to cover their medical expenses.

Thailand's goverment says its also going to pay for the transportation and accommodation of the families of the victims.

8 dead, 19 missing in SW China rainstormsHeavy rains in Sichuan since Sunday have left 8 people dead and 18 others missing.

The rains and flooding have flooded parts of 6 cities.

More than 12-thousand people have been relocated.

Mudslides on Monday morning have destroyed homes and cut off power, telecommunications and roads.

The storm has inflicted direct economic losses of about 32.8 million U.S. dollars, damaging over 20-thousand hectares of farmland.

Police officers, armed police and firemen are searching for the missing.

Plant on fire in south China, no casualties reported yetFirefighters are attempting to put out a blaze at a waste processing plant at an industrial park in the city of Liuzhou in Guangxi.

So far no casualties have been reported.

Evacuations are underway in the immediate area around the blaze.

It's not clear what sparked the fire.

Myanmar extends state of emergency period in Kokang regionMyanmar's parliament has passed a proposal to extend the state of emergency in Kokang region by another 90 days for the third time.

The proposal was made by President U Thein Sein on Tuesday.

A martial law imposed along with the state of emergency in the region remains effective.

The 90-day state of emergency was first declared on Feb.17 following heavy fighting on Feb.9 between government forces and Kokang's Myanmar National Democratic Alliance Army.

The state of emergency period was extended for the second time from May 18 to Aug. 17 as fighting continued in the region.

Giant panda gives birth in MalaysiaA giant panda from China has given birth to a cub at the national zoo in Malaysia.

Prime Minister Najib Razak posted an update on twitter announcing that the panda named Liang Liang gave birth at 1:45pm today.

Liang Liang, together with a male giant panda Xing Xing, arrived in Malaysia last year on a ten-year loan, coinciding with the 40th anniversary of the establishment of diplomatic relations between China and Malaysia.

Biz ReportsTurning 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.

ReporterU.S. stocks ended lower on Tuesday, with the S&P 500 trading in its tightest daily range in nearly a month, as investors pondered over a sharp sell-off in Chinese stock market amid upbeat U.S. housing data.

Homebuilders continued on a winning streak after data showed U.S. housing starts rose to a near eight-year high in July.

The PHLX housing sector index rose 1.3 percent for an eighth straight session of gains.

The materials sector was the largest decliner among the top ten industry sectors with a 0.7 percent decline.

In corporate news,Underscoring the strength of the homebuilding sector, Home Depot shares rose 2.6 percent, a record closing high.

Shares of Wal-Mart dropped 3.4 percent after the retailer posted weaker-than-expected quarterly earnings and lowered its annual forecast.

Disney shares fell 1.9 percent after Wells Fargo cut its rating on the stock and five other media companies, including CBS.

CBS shares fell 1.4 percent.

At the close,The Dow Jones inched down 0.2 percent.

The S&P 500 trimmed 0.3 percent.

The Nasdaq lost 0.6 percent.

Meanwhile, European stocks finished mildly lower following the Chinese stock slump on Tuesday,At the closing bell,The UK's FTSE 100 slipped 0.4 percent.

Germany's DAX dipped 0.2 percent.

France's CAC 40 declined 0.3 percent.

Finally here in China,Shares nosedived with the benchmark Shanghai Composite Index dropping 6.2 percent.

The smaller Shenzhen Component Index tumbled 6.6 percent on the day.

China investigates firms for suspected securities violationsChina's securities regulator has launched an investigation into two Chinese technology companies for possible Security Law violations.

Hundsun Technologies and Hithink RoyalFlush Information Network are being looked at for illegal margin financing.

Hundsun's HOMS service, designed for small asset managers, is accused of being used by investors for margin financing outside approved channels.

Hundsun has since responded, saying its service is a "technical tool" for private funds.

China's housing market continues recoveryAnchorNew figures show the housing market in China is starting to edge back up on a month-by-month basis.

Of the 70 cities in the monthly survey by the National Bureau of Statistics, 31 have seen a price increase from June to July.

However, the year-on-year survey shows 67 of the same cities have seen new home prices decline, with only Beijing, Shenzhen and Shanghai the only cities that have seen average new home price increases.

Meanwhile, for existing homes, 18 cities saw month-on-month price declines last month.

39 cities in the survey saw increases.

For more on China's housing market, we are now joined on the line by Professor Liu Baocheng from University of International Business and Economics.

Q1: What do you think are the possible economic factors that are influencing the home prices?

Q2: According to analysts, the home prices have seen strong growth in top-tier cities but continued to decline in third-tier ones, so what do you think could be the pressure or obstacles hindering the home prices' increasing in third-tier cities?

Q3: Could you tell us some of your expectations concerning the market's behavior over the next few months?

Back Anchor:

Professor Liu Baocheng from University of International Business and Economics.

China raises capital base of development bankChina's central bank has injected new capital into the China Development Bank.

The CDB is responsible for providing medium and long-term financing for major national projects.

The central bank has pumped 48-billion U.S. dollars into CDB through its Wutongshu Investment Platform.

This is the government agency responsible for investing China's foreign exchange reserves.

China Development Bank's registered capital now sits at 65-billion U.S. dollars.

At the same time, the PBOC has also invested 45 billion U.S. dollars through Wutongshu into the Export-Import Bank of China.

This is China's policy bank focusing on export and import loans.

China CITIC Bank H1 profits rise 2.51 pctCITIC is reporting a net profit increase of 2.5 percent year through the first half.

The Chinese bank earned an equivilant of some 3.7 billion US dollars in the first 6-months.

But at the same time, CITIC is reporting its non-performing loan ratio sits at around 1.3 percent as of the end of June.

CITIC's NPL's have come in at 30.4 billion yuan as of the end of June, up about 2 billion yuan from the end of last year.

The company is attributing the rise in its non-performing loan ratio to the overall economic situation and the degeneration of business performance.

CITICS's capital adequacy ratio, which measures a bank's ability to deal with a sharp increase in risky assets, has come in at 11.9 percent, down nearly 0.5-percent from the end of last year.

Greece sells airport rights to FraportGreece has agreed to sell the rights to operate 14 regional airports to a German company.

Fraport currently runs the Frankfurt Airport among others across the world.

The deal is the first in a wave of privatizations the government needs to make to qualify for its new bailout.

It's worth 1.3 billion U.S. dollars.

It's the first privatization by the government of Prime Minister Alexis Tsipras.

The government had initially vowed to cancel the country's privatization program.

However, Tsipras has been forced to renege on his pre-election promises to secure a third international bailout for Greece, worth 86 billion euros.

Without the rescue loans, Greece will default on its debt as of tomorrow.

Lenovo set to produce phones in IndiaLenovo has announced plans to establish a new smartphone assembly unit in India.

The new agreement will see the Chinese computer maker team up with manufacturer Flex.

Its assembly line is going to be located in the southern Indian city of Chennai.

It will have a production capacity of 6 million smartphones per year.

The Lenovo plant will employ around 15-hundred people.

It comes after Xiaomi announced earlier this month that its teaming up with Taiwan-based Foxconn to start assembling phones in India.

Norinco Group, Alibaba to offer positioning services using Beidou systemChina North Industries Group and Alibaba have set up a joint venture to provide location-based services using the Beidou navigation system.

The new company has 2 billion yuan in registered capital.

Alibaba and China North each hold 50-percent of the new company.

Beidou is currently one of four dominant navigation systems worldwide, along with the United States' GPS, Russia's GLONASS, and the European Union's Galileo.

SportsIAAF Congress opens in Beijing with new president to be electedA new head of the International Association of Athletics Federation, or IAAF, is set to be elected later today at this year's IAAF Congress here in Beijing.

Ukraine's Sergey Bubka will be up against London Organizing Committee chief Sebastian Coe for the position.

82-year-old Lamine Diack is stepping down as the IAAF chief.

The election comes ahead of the opening of this year's IAAF World Championships on Saturday here in Beijing.

Football RecapIn football action from the European Champions League,Manchester United has cruised past Belgian side club Brugge 3-1 in the home leg of their qualifying match.

--------------------Swedish champions Malmo have arrived in Scotland to face Celtic in the first leg of their Champions League qualifying round on Wednesday.

Malmo beat Red Bull Salzburg at the same stage last season to make it into the group stage.

But defender Kari Arnason warns that doing the same against Celtic is a tougher challenge.

"I mean, obviously Celtic is a bigger team. They get 60,000 people for every game and they have been involved in Europe a lot more times than Malmo but if you look to the quality of the teams it is 50-50," he said as players boarded the bus.

The return leg is on next Tuesday in Sweden.

--------------------In off-pitch football news,Spanish giants Real Madrid has announced the signing of Croatian internatioal midfielder Mateo Kovacic from Inter Milan.

The deal will keep Kovacic at the Spanish giants for the next 6 years.

The 21-year-old Kovacic has moved to Inter in 2013 and scored eight goals in 80 Serie A matches.

China Beat Uzbekistan 9-0In football action here in China,China have cruised past Uzbekistan 9-0 to reach the second round of the AFC U19 Women's Championship in Nanjing.

Next off for China is Australia, who went down to Japan 2-0 last night.

--------------------Over to men's side,Defeding champions Shandong Luneng will take on Henan Jianye tonight for a place in the semi-finals of the Chinese Football Association Cup.

In other action,Beijing will host visiting Guizhou Renhe.

Shanghai Shenhua will play city rivals Shanghai SIPG.

And it's Xinjiang taking on Jiangsu Sainty.

Sloane Stephens Advances at Cincinnati OpenIn tennis action from the Cincinnati Open,Italian Sara Errani has been handed a surprising setback, losing to Russian Daria Gavrilova in a three sets thriller.

Sloane Stephens of the United States has eased into the second round after beating the 10th seed Carla Suarez Navarro from Spain in straight sets 6-1, 6-2.

The world number 30 will meet either Mona Barthel of Germany or Casey Dellacqua from Australia.

Others advancing include Belinda Bencic, who won last week's Rogers Cup, along with Italian Flavia Pennetta and Victoria Azarenka from Belarus.

-----On the men's side,12th-seeded Richard Gasquet of France crushed Australian Nick Kyrgios 6-2, 6-1.

In other action,Spaniard left-hander Fernando Verdasco has knocked out Jo-Wilfried Tsonga 4-6, 6-3, 6-4.

This is Verdasco's first victory over the Frenchman since the 2009 Australian Open quarter-finals.

Luneng Beat Shanghai 3-2In action from the China Table Tennis Super League.

Olympic champion Zhang Jike has led defending champions Shandong Luneng to a 3-2 victory over Shanghai.

This is Zhang Jike's first action since getting into a contract dispute a few weeks ago with Luneng.

In other action,Ningbo beat Tianjin 3-1.

Bayi beat Shandong Weiqiao 3-1.

Jiangsu beat Guangdong 3-2.

And it was Bazhou over Sichuan 3-1.

Ningbo and Bayi are tied atop the standings.

Pistorius Is to Be ReleasedThe man they call "The Bladerunner" is set to be released from jail.

Former Olympian and paralympian Oscar Pistorius is due to be release from jail on Friday in South Africa after serving 10 months of a five-year sentence for killing his girlfriend Reeva Steenkamp.

Deputy Commissioner for Correctional Services Logan Maistry says the release of Pistorius is in line with South African sentencing guidelines.

"It is important to note that the offender was sentenced in terms of section 276 1i, of the criminal procedure act, which states that such an offender must be considered for placement under correctional supervision after serving at least one-sixth of his or her sentence, which in the case of this offender amounts to 10 months. And therefore the correctional supervision and parole board approved the placement of the offender into the system of community corrections with effect on the 21st of August 2015."　Pistorius was convicted last year in the shooting death of his girlfriend in his home in South Africa.

He claims he thought she was a burgler.

Two NBA finals players help Australia qualify for Rio GamesIn basketball,Golden State Warriors center Andrew Bogut and Cleveland Cavaliers point guard Matthew Dellavedova have helped lead Australia to a 89-79 win over New Zealand, earning Australia a spot in next year's Olympic basketball tournament.

Dellavedova scored 14 points while Bogut added 10 points in the victory.

----------In off-court basketball news,Current NBA star Mike Miller and retired legend Shaquille O'Neal are now in Hong Kong as part of a promotional tour.

The two are attending the event to launch Miller's energy drink brand, LIFE, into the Asian market.

In late July, the 35-year-old Miller has been traded from the Cleveland Cavaliers to the Portland Trail Blazers.

The move ended Miller's short-lived reunion with LeBron James, with whom he won two NBA Championships with the Miami Heat.

"Obviously, playing with LeBron (James) has been exciting, it's awarded me a lot of different things two championships, but a friendship. That, I think, is just as important, if not more important. It's taught me what it takes to win, not only in basketball, but in business and in life, and it's really kind of spring-boarded me to do some of things I'm doing now."----------Other basketball news,It's been announced Liaoning men's basketball team will play 5 warm-ups against Portugal's national team as preparations for the coming CBA season.

3 of the 5 matches will be played in Liaoning, with the other two in Hunan and Henan.

Entertainment'Mr Tumor' topples 'Monster Hunt' at the Chinese box officeMonster Hunt has finally been knocked out of the top spot at the Chinese box office, as "Go Away Mr Tumor" climbed up, after earning almost 30 million US dollars in four days.

Directed by Han Yan, Go Away Mr Tumor is based on an online comic about the based the real-life drama of young cartoonist Xiong Dun's battle against cancer.

The film stars Daniel Wu and actress Bai Baihe, who also stars in Monster Hunt.

The film racked up 5.5 million admissions in the week from Aug 10-16.

Monster Hunt came in second but still managed to gross over 25 million US dollars for an impressive total of just over 356 million dollars after 32 days.

It is now just 30million US dollars shy of China's highest ever grosser, Furious 7, which pulled in 390 million dollars earlier this year.

Action drama To The Fore came in third with 8.86million US dollars in its first full week.

Hit animation Monkey King: Hero Is Back slipped from third to fourth position.

Beatles first recording contract to be auctioned next monthThe Beatles' first recording contract was signed in Hamburg, Germany, where the band honed its craft playing gigs in the city's boisterous nightclub district.

The 1961 recording session produced the single "My Bonnie."It was released on the Polydor label in Germany only and never hit the top charts.

But the tune led directly to the Beatles' discovery back home, a contract with EMI the following year and their first hit, "Love Me Do."Heritage Auctions will auction the six-page contract in New York on Sept. 19 for an estimated 150,000 US dollars.

It's the centerpiece of a Beatles collection spanning the band's entire career.

It's being sold by the estate of Uwe Blaschke, a German graphic designer and noted Beatles historian who died in 2010.

Amy Winehouse documentary a box office hitA film telling the story of Amy Winehouse's turbulent life has become the second most popular documentary ever at the UK box office.

The latest figures show the move, simply titled "Amy" has grossed over 3 million pounds.

American director Michael Moore's Fahrenheit 9/11 remains the highest grossing documentary at the UK box office, grossing over 6.5 million pounds.

The new documentary shows previously unseen footage of the star, and also features unheard tracks from her repertoire.

Her father Mitch Winehouse recently revealed on Australian television that his daughter had thought she was pregnant before she died.

She died in 2011 from alcohol poisoning, after battling drink and drug problems for many years.

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

Recapping our top stories this morning...

Rains in Tianjin are creating new concerns about pollution coming from the blast zone in the city.

Thai police have released images of the person thought to be responsible for a bombing which has left 20 dead, including 6 from China.

A new development forum is underway in Xinjiang.

In Business... a pair of Chinese companies are under investigation for suspected securities violations..

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.