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

Coming up on our program this morning...

A number of dead fish showing up in a river near Tianjin raising new environmental concerns following last week's deadly blast.

Two people being sought in connection with this week's deadly blast in Bangkok have been cleared by police.

North and South Korea trading fire once-again.

In Business... a new report shows smartphone sales in China have declined for the first time.

In Sports... new reports suggest Yi Jianlian is planning to stay in Chinese basketball.

In entertainment.... Bon Jovi tries his hand at a Chinese love song.

All of that coming up in the next hour.

A reminder as always there are several ways to reach out to us here on the Beijing Hour.

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TopEnvironmental pollution tops concerns of residents after blasts in TianjinAnchor:

Environmental authorities monitoring the situation around the blast zone in Tianjin are moving to try to quell fears about both airborne and waterbourne chemicals affecting people in the city.

CRI's Luo Wen has more.

Reporter:

"Like I said previously, there are substances being monitored, and some are excessive. Right now, the chemicals being monitored in the air will only have a short-term effect on people's health. However, long-term exposure could be more dangerous. But if the levels we're monitoring stay as they are, we don't feel there will be any problems."Tian Weiyong, Director of the Tianjin Emergency and Accident Investigation Center, releasing information on Thursday as part of a new commitment by authorities around the blast site to provide a constant update on the environmental impact of last week's deadly blast.

As part of that commitment, observers are issuing updates every 2-hours, as opposed to once-a-day, which had been the practice until Thursday.

Despite the updated information, fears about the impact last week's explosion is having on the environment are still running high in Tianjin.

Scores of dead fish have been found in a river nearly 6 kilometers from the blast site, stoking new fears about the possible release of toxic chemicals into the water system.

The dead fish have been found around an estuary on the Haihe River.

Deng Xiaowen, Director of the Tianjin Environment Monitoring Center, says they are closely monitoring for cyanide in the water around the area, and says the levels are within safety limits.

"In recent days, we have been keeping close track of a specific pollutant, cyanide, in the Haihe River. We've found its density is within the standard, and does not exceed it. Currently, the marine monitoring points are mostly located in the waters of Dongjiang Bay, as well as around the Dongjiang dock and in the open sea outside the Port area."As for the discovery of the dead fish, Dong Xiaowen notes this is not uncommon for this time of year in Tianjin.

"In the summer, dead fish are a common site in Tianjin. One of the reasons is Tianjin is located downstream of the Haihe River. All pollutants entering the Haihe River from upstream eventually flow into the sea through Tianjin. High temperatures, as well as run-off from farmland upstream often create algae which sucks oxygen from the water, killing fish."Environmental officials are testing the dead fish being discovered to determine exactly what is killing them.

Cofferdams have been built to block cyanide-tainted water from getting out of the exclusion zone around the blast site.

It's estimated some 700 tons of sodium cyanide was on-site at the time of the explosion last week.

Sodium Cyanide, when mixed with water, can create potentially-lethal toxic gases.

Authorities have still not been able to give a time-frame as to when they might be able declare the site clear of deadly chemicals.

A series of massive explosions ripped through the Port of Tianjin on August 12th, leaving close to 200 dead or missing.

For CRI, I'm Luo Wen.

Bangkok attack: Two suspects including one Chinese national cleared by police after questioningAnchor:

Thai police say two men who had earlier been identified as possible suspects in this week's deadly bombing in Bangkok have been cleared after questioning.

But at the same time they believe as many as 10 other people could be involved in the plot as they continue the search for the "foreign national" considered the main suspect.

CRI's Poornima Weerasekara has moreReporter:

A Chinese tourist and his Thai guide who were earlier identified as possible accomplices in the Bangkok bombing have been cleared by Thai Police after questioning.

They were caught on security cameras standing in front the prime suspect just minutes before Monday's blast at the popular Erawan Shrine.

But Thai police spokesperson Prawut Thavornsiri says the two men, who turned themselves in after seeing their pictures in the media, are not involved.

"The man in a red t-shirt met with police at the Lumpini police station, and then was investigated at the Investigation Centre in Phayathai. Now police have already finished investigating him, and he has been released. The man in the white t-shirt, who is Chinese, already went home to China yesterday. For our preliminary investigation, they are not involved."The main suspect - thought to be "a foreign national" - remains at large.

But authorities say they believe he is still in Thailand.

The name and nationality of the man seen in a yellow t-shirt - leaving a backpack at the shrine just three minutes before the blast - has not yet been established.

Police are now questioning a tuk-tuk driver who drove him to the shrine.

"The suspect and tuk-tuk driver couldn't communicate. They communicated by a photograph shown on the suspect's phone."New CCTV footage shows the main suspect on a motorbike taxi, heading south, towards one of the largest public parks in downtown Bangkok, just minutes after the blast.

The motorbike driver says he dropped off the suspect near the Lumpini park.

Police say they have lost all trace of him since then.

Thai Police now say that at least 10 people are suspected of being involved in the deadly attack that killed 20 people, mostly foreigners, and injured more than 120.

Officials say they believe the attack was planned at least a month in advance.

However, Thai military spokesperson Colonel Winthai Suvaree says it was "unlikely" that the attack was the work of an international terror group.

He also adds the attack did not specifically target Chinese tourists.

"The security services have received cooperation from allied countries, and we have the same opinion - that at the moment, the incident was unlikely to have been the work of an international terrorist group, and we think the group was not directly targeting Chinese tourists, because there were other nationalities affected too."Bangkok remains on high alert.

Police have deployed an extra 10,000 personnel on the ground in the wake of the deadliest attack in the city's recent history.

For Cri I'm Poornima WeerasekaraExpert on China-US TiesAnchor:

A former diplomat and leading Chinese international relations observer has delivered a new speech, attempting to outline the future of the Sino-US ties ahead of Chinese President Xi Jinping's forthcoming US visit.

CRI's Yu Yang reports.

Reporter:

Ruan Zongze with the China Institute of International Studies says the timing of the Chinese President's visit to Washington comes at an important time.

"President Xi Jinping's trip comes as the US prepares for next year's election, while at the same time, reforms in China continue to progress. A successful visit will be significant for the development of both bilateral ties and peace in the Asia-Pacific and the world."September's trip will be Xi Jinping's first official state visit to the US after becoming Chinese president nearly 3-years ago.

It's expected the two sides will mainly focus on how to avoid conflict and confrontation as the world's major powers.

Professor Ruan Zongze says cooperation still remains the main goal of bilateral ties, despite ups and downs between the two sides on various issues.

"China and the US have seen their cooperation deepen and expand into broader areas. As an example, the talks about Iran's nuclear programs went far beyond expectations."He says while divergences between the two sides are likely to continue for some time, there is a growing convergence of interests.

Ruan Zongze notes official exchanges between the two sides are much more frequent than before.

He's also suggesting it will be important for lawmakers in the US to take an objective view of China's expanded foreign policy platform.

"It's important for the US to observe China's increasingly active participation in world affairs in an objective manner. The media and academic circles in the two countries should also be working to increase communication and exchanges."Ruan Zongze, aside from being associated with the Chinese Institute of International Relations, also served as a Minister Councilor at the Chinese embassy in Washington from July 2007 to December 2011.

For CRI, I'm Yu Yang.

China Heightens Airport Security Checks ahead of V-Day ParadeIncrease security checks are now taking place at airports across China in advance of the massive military parade in Beijing on September 3rd.

Anyone hoping to board an Air China flight in Beijing won't be able to get on unless they check in at least 45-minutes in advance.

Airport authorities in Shanghai at both the Pudong and Hongqiao are suggesting passengers, even for domestic flights, arrive at least 2-hours in advance.

Security patrols are also being stepped up in advance of the V-Day parade.

Chinese fleet arrives in Russian port for joint naval drillA Chinese naval fleet has arrived at the Port of Vladivostok for the second phase of a joint naval drill with Russia.

Wang Hai, head of the Chinese Navy's side of the drill, says the drills they have planned in the coming days will cover anti-submarine warfare and air defense strategies.

"This year, we've broken our drills into two parts. The overall drills represent the friendly cooperation between the two navies, and believe we have made new steps forward. Compared to our drills last year, this year's drills are being carried out at a higher level."A joint beach landing is also being planned.

This is the second naval exercise between China and Russia this year.

The two sides conducted drills in the Mediterranean in May.

China Release Video Footage of Drone Missile TestThe Chinese military has released video footage of one of its home-made drones conducting a live-fire missile test.

The footage shows the drone firing 8 different kinds of weapons at various targets.

Testing itself took place last month in northern Inner Mongolia.

Li Yidong, deputy Chief Engineer of the PLA's armed drone division, says the drones are useful for both recon and attack missions.

"Drones that can both reconnoiter and attack have to function like this. Often times we don't know what kind of targets are on the ground. You can't just use one or two types of missiles to deal with targets of various types. That's why we have different weapons for different targets."The drone, known as "Wing Loong," completed its development phase last year.

China has quickly become one of the world leaders in drone technology development.

11 dead, 13 missing in Sichuan floodsEleven people are dead and 13 others missing in flooding this week in Sichuan.

Heavy rains since Sunday have disrupted the lives of more than half a million people.

Mudslides have also destroyed dozens of homes and cut off power and communications in the worst hit areas in the southeastern part of the province near the border with Guizhou.

Su Wenrui, head of a local Armed Police rescue team, says food shortages are also becoming a problem.

"Food is the largest demand currently. Electricity is cut off, so the villagers can't properly cook their rice. Many of the vegetables they've planted have also been washed away by flooding. Carrying food on our shoulders is the only way to bring relief into the villages."Areas around the city of Luzhou in Sichuan are some of the worst-hit, with flooding reaching the second floor of buildings in certain cases.

Tangmai Graveyard to Become ThoroughfareAnchor:

A major bridge project linking the mountainous regions of Sichuan with neighboring Tibet is soon set to open, making access along the treacherous route much safer for drivers.

CRI's Chi Huiguang has more.

Reporter:

Any internet search of Tangmai will reveal a deluge of accidents. The greatest disaster was in the year 2000, when the Yigong Lake suddenly broke through the earthen dam and washed the old Tangmai Bridge and roads nearby away.

Walking along the Yi'ong Tsangpo River, we can see 3 bridges flying across the rapid flow. The first narrow bridge was just for pedestrians. Wang Zhonghai, the head of the construction company from Sichuan introduces the active one in the middle:

"It was built after the 2000 disaster, as a temporary connection of the two sides, only for one way a day, and the loading limit is 20 tons or less, sometimes the passengers have to get off the vehicle to walk through, which caused great traffic pressures."Every driver who has once drove the Sichuan-Tibet highway knows that it's common to wait for several days to pass through Tangmai Graveyard. If someone just waited for several hours, they are super lucky.

Here is some good news for Tibetan commuters: the Tangmai graveyard with the reputation for being a cause of accidents and traffic jams is no longer going to be a problem once the Tangmai Large Bridge and 4 tunnels nearby are complete. Nyima Chok, the technician in charge of the project, explains:

"After the projects are complete, the problem of the so-called throat of the highway will be solved thoroughly. When this large bridge is open, commuters are able to pass through the Tangmai part at any time of the day without traffic control at all."The dangerous road is a 17 kilometer section of the highway that links Bome and Bayi counties in Nyingchi city in the southeastern Tibet autonomous region.

Currently, after passing through the bridge heading to Lhasa, drivers have to use the narrow, high-elevation road that winds in several S-shape bends and hairpin bends on one side of a mountain prone to mudslides.

According to Huang Bingyong, a police officer who has been helping ease traffic jams along the road for the past 3 years, this section of Tangmai Graveyard saw numerous mishaps like vehicles plunging into the abyss, car pile-ups, mudslides and traffic jams.

"According to my knowledge from the project department, the 17 kilometer section will be completed and open before the end of this year, when the Tangmai Graveyard will turn out to be Tangmai thoroughfare."As the centerpiece of the project Huang mentioned, Tangmai Large Bridge stretches about 260 meters, which is expected to receive about 1600 vehicles a day and is designed to be operational for 100 years.

Bach anchor:

That's CRI's Chi Huiguang reportingS.Korea, DPRK trade fires in border over propaganda broadcastsThe tensions between the North and South Korea are on the rise following an exchange of fire along their western border area on Thursday.

South Korean President Park Geun-hye has convened an emergency meeting of her National Security Council.

Min Kyung-wook with the South Korean President's Office says the military has been ordered to "sternly respond" to any provocation.

"In this meeting, President Park was briefed by Joint Chiefs of Staff Chairman, Defence Minister and the Secretary General for the National Security Council on the event outline and our military's counteraction in order. The President ordered to respond decisively toward the North's provocation, to maintain our military fully prepared and, at the same time, to make sure our people are safe and protected."South Korean forces have launched dozens of shells across the border after reports of the North firing at the South Korean border town of Yeoncheon.

No casualties have been reported.

North Korea has denied firing the first shot.

It's the first exchange of fire between the two sides in close to a year.

It comes amid heightened tensions after the South resumed broadcasts this month into North Korea after an 11-year hiatus.

The broadcasts are in response to Seoul's accusation the North planted land mines on the Southern side of the Demilitarized Zone that maimed two South Korean soldiers earlier this month.

The North has threatened to attack loudspeakers on the South Korean side of the border.

The artillery exchange also follows the start of the latest round of U.S.-South Korean military drills.

North Korea insists the drills are a prelude to an invasion.

Seoul and Washington insist the drills are defensive in nature.

Greek PM formally resigns, requesting snap general electionsGreek Prime Minister Alexis Tsipras has announced plans to step down, paving the way for new elections.

"I will go to the president to submit my resignation as well as the resignation of the government. The mandate I received on January 25th has exhausted its limits, and now people must decide anew."Tsipras has opted for early elections to try to consolidate his position as Prime Minister in the vote, which will take place on September 20th.

This comes after nearly 30 percent of the lawmakers from his Syriza Party refused to back the new bailout deal in Parliament last week, forcing him to garner support from the opposition to get the deal done.

Tsipras, whose Syriza Party flew into power last year on a mandate to end the austerity measures Greece has been enduring to secure its previous bailouts, says his re-election will put them back on that path.

"You, with your vote, will decide if this agreement we achieved is enough for the dead end we had reached to be overcome, for the economy to rebound, and for us to finally extricate ourselves from bailouts and austerity."The snap election call comes on the heels of Greece narrowly making a window to repay a 3.2-billion euro loan which was due to the European Central Bank on Thursday.

Former U.S. President Carter will undergo radiation treatmentAnchor:

Former US President Jimmy Carter's medical condition appears to be worse than first thought.

The details from CRI's chief Washington correspondent Xiao Hong.

Ann:

"I just thought I had a few weeks left, but I was surprisingly at ease"More than a week after the news first broke that Carter was dealing with cancer of the liver, the 90-year old has now revealed the cancer has spread into his brain.

"I'll get my first radiation treatment for the melanoma in my brain this afternoon. And then I understand I'll have four treatment schedule at three week intervals."The 39th President of the United States first fell ill in May during a trip to Guyana while on one of his many humanitarian missions abroad.

He was forced to return home early, and after physical, doctors discovered a tumor on his liver.

A biopsy later determined the cancer to be malignant.

It has since found it way into his brain.

Despite the new diagnosis, Carter appears to be in high spirits, taking time to joke that he's now been getting calls from his Presidential successors, as well as other high-level dignitaries.

"First time they called me in a long time."Carter has even paused to recall the circumstances during the Iran hostage crisis in 1979 which preceded his election loss to Ronald Reagan.

"I wish I had sent one more helicopter to get the hostages and we would have rescued them and I would've been re-elected. But that may have interfered with the foundation of the Carter Center. If I had to choose between four more years and the Carter Center I think I would choose the Carter Center. Could have been both."Since losing the election, Carter has become one of the United States' leading champions for social causes, and has still maintained a role in foreign diplomacy.

As part of his legacy, Carter and former Chinese leader Deng Xiaoping officially signed the documents restoring diplomatic ties between China and the United States in 1979.

He is also credited with helping re-open lines of communication between the US and North Korea after current President Barack Obama took office.

Xiaohong, CRI, Washington DC.

Britain reopens embassy in TehranBritain is set to reopen its embassy in the Iranian capital Tehran this weekend.

It comes nearly 4-years after protesters in Tehran ransacked the Ambassador's residence.

This will restore full diplomatic relation between the UK and Iran.

"I hoped that it would open again, so that our relations could build again and getting visas and travelling wouldn't be so hard. In general I approve it."It is part of a pledge the UK has made with Iran as part of the nuclear deal it's signed.

The 2011 protests in Tehran at the British embassy saw the UK government shut down Iran's embassy in London, expelling its diplomats.

For the last two years, Tehran has been represented in the UK by a non-resident charge d'affaires.

Claims Nazi gold train discoveredLocal reports out of Poland are suggesting a pair of treasure hunters may have found a famous train thought to be carrying Nazi gold.

Marika Tokaraska is with the district council in the community of Walbrzych, which is located in southwestern Poland, just 10-kilometers from the Czech border.

She says they've received correspondence from two men who have discovered a train dating back to Nazi Germany.'

"The district council has received a letter from a law firm in Wroclaw. We were informed that the men - a Pole and a German - represented by the law firm have discovered a German train, which departed in 1944 to Walbrzych, but never reached its destination. These two man want 10 percent of the value of the train's contents. So we suppose they know what is inside."Rumours have abound for years that just before the end of the war, the Nazi's packed tons of gold and other valuables on a special train in an attempt to hide it from the allied forces.

Local legend has it the train was then lost in a complex series of tunnels running through southwestern Poland and never recovered.

Self-proclaimed Chinese qigong master arrested for illegal detentionChina's self-proclaimed qigong master, Wang Lin, is now being held for his alleged role in an "illegal detention" case.

Wang Lin, along with three other suspects, have been detained for allegedly kidnapping and murdering a businessman last month.

Wang and another suspect are facing charges of illegal detention.

The other suspect is facing the murder charge.

Wang Lin shot to fame 2-years ago after images of his supposed "supernatural powers" went viral onlineIncreased notoriety has surrounded so-called qigong masters in recent years, as they've been linked with some of China's leading officials, raising concerns about their level of access and influence in Chinese politics.

Chinese Valentine's Day celebrated across ChinaThis year's Qixi Festival, or Chinese Valentine's Day, has come to an end.

Yesterday saw some 2-thousand couples 'tie-the-knot' in Beijing.

The annual festival has also become an important day for flower growers and traders.

Yunnan's capital Kunming is one of the largest flower-exporting bases in Asia.

Zhang Li with the Kunming International Flora Auction Trading Center says their trading volumes have spiked dramatically this year.

"Our daily trading volumes this past week reached more than 7 million yuan this year, up 40 percent year on year."Chinese Valentine's Day, or Qixi Festival, falls on the 7th day of the 7th month in the Lunar Calendar.

It's derived from a story in ancient Chinese mythology, but has only once-again become popularized in China over the past decade or so.

WeatherBeijing will be cloudy with a high of 33 degrees Celsius.

Overnight temperatures should drop down to 22.

Tianjin will be sunny with a high of 33 and lows of 24.

Shanghai will have showers with a high of 29 and a low of 24.

In Chongqing, it will be sunny during the daytime with a high of 32 and lows of 22.

Elsewhere in the world, staying here in Asia,Kathmandu, moderate rain, 28.

Islamabad will see slight rain with a high of 34.

Kabul will be cloudy with a high of 31.

Over to North America,New York will see slight rain with a high of 26 degrees.

Washington, overcast with a high of 31 degrees.

Honolulu, slight rain, 29.

Toronto will be cloudy with a high of 24 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 19.

And Rio de Janeiro will have slight rain with a high of 23 degrees Celsius.

Headline NewsNo cyanide detected from Tianjin river section with fish deathsOfficials say no toxic levels of cyanide have been detected in water samples taken from a river in Tianjin where a large number of dead fish are appearing.

Scores of dead fish have been found in a river nearly 6 kilometers from the blast site at the Port of Tianjin.

This has stoked new fears about the possible release of toxic chemicals into the water system.

Officials note fish-kills during the summer months around Tianjin are not uncommon, as warm temperatures and algae tend to soak up a lot of oxygen in the waters around the city.

The death toll from last week's explosions in Tianjin still sits at 114.

However, 65 others are still listed as missing.

Kim Jong Un orders frontline army to enter state of warNorth Korean top leader Kim Jong Un has ordered the country's frontline forces to enter state of war from 5pm local time on Friday.

The official KCNA news agency reports Kim made the order during an enlarged emergency meeting of the central military commission of the ruling Workers' Party of Korea late on Thursday.

An artillery exchange broke out between the North and South Korea yesterday afternoon, further fueling tensions on the peninsula.

30 prosecuted in Shanghai for media blackmailThirty people have been prosecuted in Shanghai on blackmail charges, including Shen Hao, the former president of 21st Century Media Company.

Other media executives in the group included Liu Dong, former president of 21cbh.com, and Xia Ri, former publisher of Money Week.

Charges against the group include extortion, forced transaction, and corruption.

Prosecutors in Shanghai have now handed the case to the Pudong New District People's Court.

Arrests were made last September.

Stamps, coins to issue for 70th anniv. of anti-Japanese war victoryChina's central bank has issued a set of commemorative coins for the 70th anniversary of the country's victory against Japanese Aggression.

The front side of the coins features the national emblem while the other side features the year "2015".

Meanwhile, the State Post Bureau will issue a set of stamps on September 3 for the anniversary event.

The set will have 13 stamps and one souvenir sheet.

The stamps will display historical relics and the major museums and memorial sites associated with the war.

CRI Director General Meets Journalists from Russian MediaThe Director General of China Radio International, Wang Gengnian, has sat down for a meeting in Beijing with 11 journalists from several leading Russian media outlets.

The discussions have included a back-and-forth about the advancement of different mediums, including audio, video and pictures.

The meeting comes ahead of the "Year of Media Exchanges between China and Russia" next year.

Biz ReportsAnchor:

Turning 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.

Reporter:

U.S. stocks had its worst day in 18 months on Thursday, dragged down by another slump in Chinese shares and heavy selling by technical traders.

The losses were also fueled by global growth concerns after the U.S. Federal Reserve said a day earlier the central bank may wait until after September to raise interest rates.

Media stocks were hit hard with Disney shares plunged 6 percent after Bernstein downgraded Disney to "market perform" from "outperform".

Shares of Viacom, owner of CBS also fell 6 percent and Twenty-First Century Fox shares dropped 4 percent.

In other markets, U.S. oil prices bounced on Thursday as traders bought the dip after prior day's sharp decline.

U.S. Crude oil settled 34 cents higher at about 41 dollars a barrel.

While Brent crude fell more than 1 percent to below 47 dollars a barrel.

At the close,The Dow Jones lost 2 percent.

The S&P 500 sank 2.1 percent.

The Nasdaq dropped 2.8 percent.

Meanwhile, European stocks fell for a second day Thursday, hurt by another tumble in U.S. stocks as well as uncertainty about the prospects of snap elections in Greece.

At the closing bell,The UK's FTSE 100 extended its longest losing steak since 2011 and closed down 0.6 percent.

Germany's DAX decreased 2.3 percent.

France's CAC 40 inched down 2 percent.

Finally in China,Shares extended losses on Thursday following volatile trading the previous day, mainly due to lack of confidence on the part of investors.

The benchmark Shanghai Composite Index went down 3.4 percent.

The smaller Shenzhen Component Index lost 2.9 percent.

Chinese Investors Buying NYC PropertyAnchor:

This year has seen a sharp increase in Chinese investor demand for real estate in New York, with the cash put down this year already exceeding last year's totals.

Our William Denselow has more from New York.

Reporter:

Another building under construction in Manhattan…and yet another property owned by Chinese investors.

Just a few blocks from New York's iconic Times Square, 7 Bryant Park's 30-story concave glass design cuts a distinct figure.

Costing the Bank of China in the region of $600 million- economics professor Ann Lee says they're not the only ones paying huge prices for prestigious properties.

Ann Lee, Author and Professor, New York University"The Chinese, because they don't know any better, are kind of paying top dollar for the name, the brand name, and the status of owning certain properties. Whether or not that makes any economic sense is besides the point for them right now."Spending billions of dollars on properties like the General Motors building and the Waldorf Astoria in recent years has literally put Chinese investors on the map.

And while China is not new to the US property market- 2015 is already a record year when it comes to spending.

With some estimates putting investment up at 4.3 billion dollars- smashing last year's total of 3.3 billion dollars.

And analytics director at Real Capital Analytics Yi Wang says poor real estate return rates in China, regulation easing and a desire to diversify portfolios are why many Chinese investors are sending their money overseas.

With New York seen as a safe destination.

Yiqun Wang, Analytics Director, Real Capital Analytics"The fundamentals of the market are very strong. The occupancy is very high, vacancy is very low and there is very good rent growth prospect for investors."And while there's a range of Chinese investors, Wang says this current boom is being driven by insurance companies.

Yiqun Wang, Analytics Director, Real Capital Analytics"Those insurance companies are very well funded and are interesting in diversifying their portfolios so this why insurance companies are very popular for putting US as a destination."But with market volatility in China combined with a devaluating currency- question linger over whether this growth can be sustained.

And with this devaluation suddenly US property has become more expensive.

But while analysts think this could hurt investment in the short-term, many argue the stability of the US dollar will keep New York as an attractive destination for the foreseeable future.

For CRI, I'm William Denselow in New York.

China's Anbang in exclusive talks to buy Portugal's Novo Banco: ReportThe Bank of Portugal is reportedly in exclusive talks with Chinese insurer Anbang about the sale of state-rescued Novo Banco.

It's being reported the Portugese central bank is now talking just with Anbang, leaving two other bidders on the sidelines.

Chinese firm Fosun International and US fund Apollo Global Management are still being considered, but only if the Anbang bid doesn't go through.

Novo Banco has been carved out of Banco Espirito Santo after a 5.5 billion U.S. dollar state rescue a year ago of the country's then second-largest lender.

Portuguese authorities are hoping to sell Novo Banco to recover some of the rescue funds.

China smartphone sales fall for first time: GartnerA report by market research firm Gartner shows smartphone sales in China have fallen in the second quarter for the first time.

Gartner says 4 percent fewer smartphones were sold in Q2 compared with the same period last year.

The analysis suggests the Chinese market has reached saturation, with the market now mostly driven by replacements, with fewer first-time buyers.

Meanwhile the report also shows worldwide smartphone sales have grown at their slowest pace since 2013 through the 2nd quarter.

However, not all smartphone makers have experienced a drop in sales.

Apple's share of the worldwide smartphone sales market has risen to 14.6 percent from 12.2 percent a year earlier.

Chinese producer Huawei, the world's fourth-largest smartphone maker, has recorded sales growth rate of some 46-percent through the 2nd quarter.

China reports record M&As in H1A research by international auditing firm PricewaterhouseCoopers shows there's been a record number of mergers and acquisitions in China through the first half of the year.

The number of M&A deals has increased to over 45-hundred.

The value of the M&As has also increased by some 60-percent to more than 350-billion U.S. dollars.

Tech firms, financial service companies and property developers are the top targets for M&As.

The PWC research also shows Chinese companies made a record number of M&A deals overseas through the first half, up 17 percent from the second half of last year.

Overseas Chinese Mergers and Acquisitions were worth some 27-billion U.S. dollars in the first half.

PricewaterhouseCoopers is suggesting the number of M&As could slow in the second half of this year due to the volatile capital markets in China.

Microsoft brings Chinese PA on WeChatMicrosoft has launched its intelligent personal assistant "XiaoIce" on Tencent's messaging app WeChat.

Microsoft has branded XiaoIce as a more sophisticated assistant than existing services such as Apple's Siri and Google Now.

In addition to text and voice interaction, XiaoIce can process images, including human beings.

It's said to be able to engage in context-rich conversations with people beyond a question-and-answer basis.

Microsoft has unveiled a free version for commercial use.

China Eastern Airlines has incorporated XiaoIce in its WeChat account as a promotional tool.

NetEase and Shanghai's Dragon TV will also feature commentary generated by XiaoIce through their news apps and live programs.

An earlier version of XiaoIce on Wechat was shut down by Tencent over personal information concerns.

China's online lender Dianrong Receives $207 million in latest financingChinese online peer-to-peer lending platform Dianrong.com has managed to generate 207-million U.S. dollars in its latest round of financing.

It is the biggest investment in the Chinese Internet finance industry so far.

The investment has been led by Standard Chartered, the China Fintech Fund and Shanghai-listed Bohai Leasing.

The latest financing follows a similar investment back in January when Dianrong received money from U.S. investment firm Tiger Global Management, which is an investor in Alibaba and JD.com.

Shanghai-based Dianrong offers lenders 5.5 to 10-percent annual returns for online P2P services, which is much higher than bank interest rates.

SportsIAAF chief Diack awarded Beijing honorary citizenOutgoing IAAF president Lamine Diack has been named an honorary citizen of Beijing.

The 82-year-old from Senegal, a former Olympic long jumper, is set to step down after becoming part of the IAAF executive in 1976.

He first became President in 1999, and was re-elected 4 times afterward.

Diack is set to be replaced by London Organizing Committee chief Sebastian Coe.

Diack says he believes his successor will be able to handle the doping problems the IAAF has been coping with.

"He is big enough and strong enough to cope with these allegations. And to face-up to these problems to show that wrong accusations are indeed wrong accusations. He loves this sport and he is very experienced and he will do his job. He will do a great job."The 58-year-old Coe will formally take over the position on August 31st after this year's IAAF World Championships wrap up in Beijing.

The event itself is set to begin tomorrow.

Stan Wawrinka reaches the Cincinnati quarter-finalsIn tennis action from the Cincinnati Open,French Open champion Stan Wawrinka has reached the last eight of the tournament after overcoming Ivo Karlovic in three tough sets.

Wawrinka will face Novak Djokovic in the semi-finals, a repeat of their battle in the French Open final this year which the Swiss won to clinch his second Grand Slam title.

Despite his defeat, the 36-year-old Karlovic is almost certain to return to the world's top 20 in time for the US Open next week.

He'll become the oldest player in the top 20 since Jimmy Connors did it back in 1990.

In other action,The Sixth seed Czech Tomas Berdych has defeated Spain's Tommy Robredo in straight sets.

Awaiting Berdych in the quarter-finals is Alexandr Dolgopolov of Ukraine.

On women's side,Lucie Safarova of the Czech Republic has made it to the quarter-finals after Swiss teenager Belinda Bencic retires due to injury in their third round meeting.

Safarova will next face either Caroline Garcia of France for a place in the semis.

Other competitors including American Serena Williams, Jelena Jankovic of Serbia and Ana Ivanovic also advChinese Super League PreviewIn Chinese football action,Defending champion Guangzhou Evergrande is hoping to return to the top of the Chinese Super League tonight as they will take Shanghai Shenxin.

Guangzhou Evergrande has won 7 of their last 9 meetings with Shenxin since 2011.

Shanghai SIPG currently leads the standings with 49 points, followed by Guangzhou Evergrande and Shandong Luneng.

Later on this weekend,League leaders Shanghai SIPG will take on city rivals Shanghai Shenhua.

Third place Shandong Luneng will be up against Henan Jianye.

Struggling Guangzhou R&F will host Jiangsu Sainty.

And it's Guizhou Renhe taking on Hangzhou Greentown.

In off-pitch Chinese football news,One of China's World Cup qualifying away-games has been changed to a home game.

China will host the Maldives on September 8th in the northeastern city of Shenyang.

The game was originally scheduled in the Maldives' capital Male.

However, its pitch was damaged during a national day celebration and won't be repaired in-time.

The switch of venues makes it three away and five home games for China in the group.

The mainland team will play two home games within a week at the beginning of September: first against Hong Kong in Shenzhen, then against the Maldives in Shenyang.

Dortmund Beat Odd 4-3, English Premiere League PreviewIn European football,In Europa League action,It was Borussia Dortmund has coming from three goals down to beat Norwegian side Odd 4-3 earlier this morning.

In other action,Southampton has drawn 1-1 with Danish side Midtjylland.

MSK Zilina of Slovakia upset Spain's Athletic Bilbao 3-2.

And it's Ajax Amsterdam over Czech side Jablonec 1-nil.

Elsewhere in Europe,Portugal have beaten defending champions Russia in a penalty shoot-out in the European Beach Soccer Superfinal group game.

Portugal will next face France, while Russia will take on Switzerland.

Other beach soccer action,Ukraine beat Belarus 6-5.

Italy beat Spain 7-2.

And it's Switzerland over France 5-2.

in the English Premire League this weekend,Tottenham Hotspur will face Leicester City this Saturday.

Hotspur head coach Mauricio Pochettino.

"Yes, they've started very well. I think that they played very well last season. They signed some very good players, good organisation. (Claudio) Ranieri has a lot of experience in football and they've started very well this season and we will expect a very tough game against Leicester."Leicester City has won its two previous matches and sits second at the league standings behind Manchester City.

In other action on Saturday.

It's Manchester United at home to Newcastle.

Sunderland entertains SwanseaBournemouth are away at West Ham UnitedIt's Crystal Palace at home to Aston VillaStoke is on the road in NorwichTiger Woods on his best round in over two yearsIn golf,Tiger Woods has carded his best round in more than two years, with a 6-under-par 64 at the Wyndham Championship.

"I felt very good out there today. I hit a lot of good iron shots. Made some putts. A round that could have been 2 to 4 under par turned into 6. I finally got something out of my round. I was telling Joey (caddie Joe LaCava) today it was nice to finally get something out of it today instead of having it go the other way."This is his lowest score on the PGA Tour since a second round of 61 at the WGC-Bridgestone Invitational in 2013.

The 14-time major winner is still 2 strokes behind leader William McGirt.

A win at this tournament would guarantee Woods a spot in the end-of-season FedExCup Play-offs.

In Europe,England's David Horsey has secured a one-shot lead with an 8-under 63 after the first round of the Made in Denmark tournament.

Welshman Oliver Farr was second and Paul Lawrie of Scotland came in third.

Yi Jianlian chooses CBA over LakersIn basketball,Yi Jianlian has reportedly turned down an offer from the Los Angeles Lakers and has chosen to stay in the CBA.

It's being reported a number of CBA teams are offering him as much as 3-times what the Lakers are reportedly putting forward.

27-year-old Yi Jianlian played for 5-years in the NBA with Milwaukee, New Jersey, Washington and Dallas before coming back to China.

He has been with Guangdong since coming back to the CBA.

He averaged 23.3 points and 12.9 rebounds last season.

In off-court NBA news,Philadelphia 76ers center Joel Embiid will have to miss the entire season again following a second surgery on his right foot.

His recovery should take five to eight months.

The Sixers held him out for the entire season last yearThe 21-year-old was the third overall pick in the 2014 NBA draft.

Expecting to move on without Embiid, the Sixers used the No. 3 pick in the 2015 draft on Duke center Jahlil Okafor.

This year's NBA regular season is set to kick off on October 28.

EntertainmentJon Bon Jovi woos China with classic Chinese love songJon Bon Jovi has become the latest Western pop star to woo the Chinese market, singing what is arguably the most famous Chinese love song ever.

Bon Jovi's first ever show in the Chinese mainland will kick off in September.

But Jon Bon Jovi's special gift to Chinese fans –the classic romantic Chinese song, The Moon Represents My Heart, was well times.

It appeared on the Qixi Festival or the Chinese Valentine's Day on August 20The music video, set in a recording studio, starts in soft focus as the soulful opening strains of The Moon Represents My Heart cue up.

The song became a super hit when it was sung by Taiwanese superstar Teresa Teng in 1977.

It remains one of the most popular love songs and a karaoke staple in China even now.

Bon Jovi's upcoming Asian tour includes stops in Beijing, Shanghai, Kuala Lumpur, Singapore and Seoul.

Jennifer Lawrence Becomes Highest-Paid Actress raking in US$52 Million last yearJennifer Lawrence is this year's highest-paid actress in Hollywood, according to Forbes.

The actress earned an estimated 52 million US dollars during the past twelve months.

Her money came from her movie roles and a lucrative deal as the face of fashion house Dior.

The Oscar winner starred in "The Hunger Games: Mockingjay, Part 1", "Serena", and the latest "X-Men: Days of Future Past" last year.

Scarlett Johansson follows at number two having earned just over 35 million US dollars, Melissa McCarthy rounds up the top 3 with 23 million dollars.

Chinese super star Fan Bingbing trails closely behind with 21 million US dollars, and Jennifer Aniston takes up the fifth place with just over 16 million US dollars.

Meanwhile, Sandra Bullock who topped last year's list with 51 million US dollars has been thrown out of the top 10.

Despite earning the highest amount among female artists, Jennifer Lawrence's earnings is a far cry from the estimated 80 million US dollars earned by the top paid male actor, Robert Downey Jr.

Silence of The Lambs Horror House For SaleThe house belonging to the serial killer Buffalo Bill portrayed in the classic horror film "The Silence of the Lambs" is now on sale for anyone brave enough to buy it.

The property in Pennsylvania was the residence of the psychopath, played by Ted Levine, who bred insects and made a suit out of human skin.

It is on the market for 300,000 US dollars.

The 1991 film is about how a FBI trainee, played by Jodie Foster, manages to track down the killer with the help of a psychotic cannibal, Hannibal Lecter, played by Anthony Hopkins.

It won five Oscars, including best picture, and Foster and Hopkins took home the best actress and best actor awards that year.

In contrast to the fictional home, the house of the real life serial killer is bright and cheery with flowery wallpaper and a swimming pool, and doesn't have a dungeon.

Caitlyn Jenner could face manslaughter charges over fatal crashCaitlyn Jenner could face a manslaughter charge for her role in a car crash in Malibu in which a woman died last February.

Los Angeles County Sheriff's Department say they plan to recommend a manslaughter charge against Jenner.

The accident happened in February when Caitlyn, the stepfather of Kim Kardashian, was known as Bruce before his sex-change operation.

Investigators have found that Jenner was driving rashly when the accident occurred.

Her vehicle collided with a Lexus, pushing it into oncoming traffic. The driver of the Lexus, identified as 69-year-old Kim Howe, was killed when her vehicle was struck head-on by another car.

WeatherBeijing will be cloudy with a high of 33 degrees Celsius.

Overnight temperatures should drop down to 22.

Tianjin will be sunny with a high of 33 and lows of 24.

Shanghai will have showers with a high of 29 and a low of 24.

In Chongqing, it will be sunny during the daytime with a high of 32 and lows of 22.

Elsewhere in the world, staying here in Asia,Kathmandu, moderate rain, 28.

Islamabad will see slight rain with a high of 34.

Kabul will be cloudy with a high of 31.

Over to North America,New York will see slight rain with a high of 26 degrees.

Washington, overcast with a high of 31 degrees.

Honolulu, slight rain, 29.

Toronto will be cloudy with a high of 24 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 19.

And Rio de Janeiro will have slight rain with a high of 23 degrees Celsius.

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

Recapping our top stories this morning...

A number of dead fish showing up in a river near Tianjin raising new environmental concerns following last week's deadly blast.

Two people being sought in connection with this week's deadly blast in Bangkok have been cleared by police.

North and South Korea trading fire once-again.

In Business... a new report shows smartphone sales in China have declined for the first time.

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.