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

Coming up on our program this morning...

New development strategies for the Beijing-Tianjin-Hebei regions have been laid out.

Final preparations are now underway for the military parade in Beijing, which is set to take place in less than 2-weeks.

A passing typhoon is dumping heavy rains on Zhejiang.

In Business... over 60-billion yuan worth of shares are set to become tradeable in China later this morning.

In Sports... Usain Bolt takes the 100-meter gold here in Beijing.

In entertainment.... China poised to get a number of new IMAX theatres.

Top NewsBeijing-Tianjin-Hebei development plans laid outNew development plans for the Beijing-Tianjin-Hebei region have been laid out.

The overall plan is to transfer non-essential government functions out of Beijing into the neighboring regions.

Transportation integration, environmental protection and industrial upgrades are going to be fast-tracked over the next couple of years.

Tianjin is being tapped as a national research and development base for advanced manufacturing.

It's also being designated as the shipping hub for northern China.

The surrounding province of Hebei has been earmarked as an experimental area for industrial transition and upgrading.

The new development plans also include the previously-announced 80-billion-yuan airport being built in southern Beijing on the border with Hebei.

Authorities also say they hope to cap Beijing's population at 23 million people by 2020.

Soldiers Gear Up for ParadeAnchorChinese soldiers are gearing up for the military parade in Beijing, which is set to take place in less than 2-weeks.

CRI's Luo Wen reports.

Reporter70 flags representing Chinese military units which fought in the war are going to be on display during September 3rd's parade.

The flag bearers have been practicing for more than 8-hours a day in the lead-up to the event.

As each flagpole weighs about 5-kilograms, Yang Lei, commander of the flag bearers battalion, says keeping hydrated is key.

"Each water bottle our flag-bearers have can hold around 2 liters, which means the soldiers don't have to stop to get water. The soldiers do have to change their uniforms at least three times a day because of sweat. Their bodies lose a lot of water each day."The training for the parade began in early June.

More than 10-thousand soldiers are being trained at several bases around Beijing.

For many of them, this will be a once in a lifetime opportunity.

Liu Zhaowei is one of those chosen to take part in the parade.

He says he almost didn't make the cut.

"I can't tell you how excited I was when I made it on to the list after being placed on the reserve list. It was then that I realized how valuable this opportunity is."Soldiers selected from PLA units that fought during the war are going to be represented in the parade.

The "Liulaozhuang Company" from New Fourth Army is one of them.

Almost all of the company was killed in a battle against Japanese forces in 1943.

Chen Hai, who serves in the company now, says their valiant actions are still remembered and cherished even today.

"At that time, all 82 warriors sacrificed themselves for the country. They passed down to us a spirit, which is also the spirit of our company. That is 'endless lives, endless battles'."Military delegations from more than ten countries, including Russia, Kazakhstan and Mongolia will pass by Tian'anmen on September 3rd.

Two teams of war veterans will also take part in the parade.

One of them is 102-years old.

For CRI, I'm Luo Wen.

China-Veteran Pilot recalls World War IIAnchorAhead of the 70th anniversary of the end of World War II, a Chinese veteran who served as a fighter pilot during the war has taken time to share his story.

CRI's Wang Mengzhen brings more details.

Reporter99-year-old Zhang Yisheng was a captain during World War II.

He says it was the battle of Shanghai which prompted him to join the military.

"The Japanese were so detestable. They always bullied us. I hated them so much. I said to myself, if I have a chance, I want to fight them. So I made a decision to become a pilot."Zhang Yisheng joined the airforce after graduating from the Huangpu Military Academy in 1942.

From 1942 to 1943, he received flight training in the U.S. state of Arizona, qualifying to fly a B25 bomber, which was the best low-altitude bomber at the time.

He says his time as a B25 pilot took him all over the world during the war.

"From the U.S., I flew over Greenland, Iceland, Britain, North Africa, the Mediterranean, Egypt, the Middle East, Iraq to Karachi.".

Zhang Yisheng's son, Zhang Ang, says he remains very proud of his father's accomplishments.

"They didn't expect to return home once they received their combat missions. So before joining the battle, they always wrote their wills and made clear who would care for their remains, as well as who would receive their pensions."At the age of 99, Zhang Yisheng is one of only a handful of Chinese flyers who remain alive to tell their tale.

For CRI, this is Wang Mengzhen.

Premier Urges Faster Development of ManufacturingChinese Premier Li Keqiang is calling for faster development of advanced manufacturing.

He says one of the areas the government would like to see grow more quickly is 3D printing.

"The development of 3-D printing technology will allow for more inspiration as we continue to upgrade our manufacturing sector and change our growth pattern."Li Keqiang's comments have been made at a State Council meeting on Sunday.

At the same time, the Premier is also calling on government agencies to upgrade their management structures.

China Russian Joint Drill BeginA new set of naval drills between China and Russia are underway off the east coast of Russia.

The drills themselves will include anti-submarine warfare activities.

Xu Jinfeng says the drills will help keep them on their toes.

"We keep a constant alert of the waters through both observation equipment and direct sight. If we see any enemy frogmen approaching, we will defend ourselves with light weapons. "Joint beach landing and air defense drills will also take place.

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

The two sides conducted drills in the Mediterranean in May.

Chinese tourist kidnapped one year ago in Pakistan rescuedA Chinese national who was kidnapped in northwestern Pakistan nearly a year-and-a-half ago has been rescued.

Pakistani Interior Minister Chaudhry Khan says Hong Xudong has been handed over to Chinese consular officials in Islamabad.

"He has been recovered from the northwest after lots of our efforts with our intelligence agents over the past year. He was handed over to us late last night."Details of how Hong Xudong was rescued have not been revealed.

Hong was taken by militants thought to be allied with the Taliban in April of last year.

He was travelling as a tourist from India to Iran when he was captured.

Typhoon Goni dumping heavy rain on ZhejiangMeteorlogical authorities in China have issued a blue alert for heavy rains being brought on by Typhoon Goni.

The storm, which is circulating in the East China Sea, has been dumping heavy rains on Zhejiang over the past 24-hours.

"We are now using three water pumps to drain the floodwater and we also blocked the water from flowing out. The water is expected to recede soon,"The storm itself remains classified as a severe typhoon.

It blew past the east coast of Taiwan over the weekend, and is continuing on a northward track.

Forecasters expect the storm to cross over southern Japan before burning out over the Korean Peninsula over the next couple of days.

Navigation programs in vehicles blamed for killing batteriesAnchorSafety experts in China are warning of possible risks to drivers because of power consumption by systems in their vehicles.

CRI's Wang Mengzhen has more.

Reporter"If the power consumption of an electronic product is beyond the limits specified, it will affect the use of other electronic devices in the car. In some cases it can affect the normal operation of critical devices such as the breaking and collision avoidance systems, which can threaten people's safety."An engineer with the China Electronic Product Quality Inspection Center, outlining some of the growing concerns being raised by vehicle owners about the electronics in their vehicles.

One of the growing concerns is auto navigation systems.

Mr. Wu bought a vehicle with a factory-installed auto navigation system.

After he left his car parked for 3-days, he discovered he couldn't start it when he came back.

He says technitions determined it was the auto navigation system which bled his battery.

"When the navigation was removed, the vehicle returned to normal. But after we put it back, the engine wouldn't start. It's clear the navigation has some defects. It steals the electricity."Technical specialists with the China Electronic Product Quality Inspection Center say some of the auto-nav systems on the market have design flaws which continue to steal power from the battery, even when the vehicle is not running.

"In general, electric products are supposed to consume a certain amount power as part of the process to store information. Usually, this only requires a little bit of power, and shouldn't drain the battery."However, engineers with the China Electronic Product Quality Inpsection Center did tests on 20 different brands of auto navigation systems.

They've found that most will burn out a vehicle's battery if the car isn't started for an average of 9-days.

Problems with auto navigation systems have become one of the leading complaints by vehicle owners in China.

For CRI, I'm Wang Mengzhen.

Overseas summer camps become increasingly popular among young Chinese studentsAnchorA growing number of Chinese parents are now shelling-out big bucks to send their children to summer learning sessions in the UK.

CRI's Victor Ning has more.

ReporterAccording to data from the UK government, Chinese students have become the UK's top source of international students over the past six years, accounting for 15 percent of the total.

Moreover, Chinese students tend to go to the UK at a younger age than other international students.

Chen Jing, a staffer with the Cambridge Center for Language, says she has noticed how demographics at the school have changed over the last decade.

"it's normal for her to receive 400 to 500 students every year now despite the high cost for the study tour, while the first group of Chinese students that she received in 1997 only had 70 members."Alan Macfarlane, a fellow of the British Academy, says the trend is related to the growth of Chinese economy and also to what Chinese parents want for their child.

"Well, I think the summer course is a reflection of several things. One is that many Chinese parents are in competition with each other, so if there is one Chinese child going abroad for this and they'll send their children too. The second thing is that they are aware that they live in a global world so they know that their children should get some experience of the outside world if they are going to compete with people from other countries. And thirdly they love their children and they want them to have fun."But Macfarlane says the difference between Chinese and Western perceptions on education can make for a tough adjustment for Chinese students when they are first involved in Western education.

"Education means something typically different in China than it does in the West. In the West, it means going away from home, becoming a member of society, becoming independent and becoming an individual. Whereas in China, it means learning facts, remaining close to your family and never breaking so it is totally psychologically a different experience. So it is very important that Chinese parents should learn about is what western education involves before they make that choice"According to official data, there are over ten thousands Chinese students going to Britain and studying for periods of around 2 weeks to a month. The expense is about 10,000 yuan per week for each student.

However, parents should be cautious about the school's qualification.

Chen Jing says parents should check with the list recognized by the British Council when they choose schools.

"I think it is important to check with the school list that is recognized by British Council for parents who want to send their kids to Britain for studying. And they can complain to the court if they find problems with the school on the British Council list. Otherwise, they got nowhere to complain if the school itself is illegal.

According to the data from Higher Education Statistics Agency, the number of Chinese oversea students in Britain reached 88,000, a gain of 5% over 2013.

For CRI, I'm Victor NingGuardian of Wildlife in Northern TibetAnchorThe Tibetan antelope is said to be making a revival after nearly being driven extinct.

CRI's Liu Xiangwei with more on some of the people helping to save the species.

ReporterChangtang, which means "northern wilderness" in Tibetan, is a vast, desolate highland stretching across Tibet Autonomous Region, Xinjiang Uyghur Autonomous Region and Qinghai Province. Due to its high elevation, even in the summer, the weather here is harsh and windy.

Once a veterinarian, Gagya Darma has been a mountain patrol for the past 15 years. A motorcycle, a telescope, a bedding roll, plus a bag of rations for one-day journey, are his daily outfits.

"The size of my patrol area is around four hundred square kilometers, which equals with two Tibetan counties. Since many people live nearby, I need to remain vigilant all the time. "The area that Gagya Darma cruises around belongs to Changtang National Nature Reserve. Established in 1990s, it is the world's second largest nature reserve as well as the habitat for many endangered species. Thus keeping an eye on local fauna is a patrol's priority.

"Chirus could be found quite frequently. Particularly in October and November, I could walk a little bit closer without disturbing them. But around this time of the year, female chirus just have their calves. If we go any further, it would be really dangerous for the young cubs, since mother chirus will lead them to run without stop. "Since Changtang is one of the five major pastoral regions in China, pastures overlap with the reserve. Here, human, livestock and wildlife are drawn together in close-knit ways. How to balance their relationship has become Gagya Darma's biggest concern.

"Herdsmen prefer to fence their pastures by wire, which may result in the imprisonment of wild animals. If that occurs, I need to teach herders how to release them. In normal circumstance, the grassland is a mix of livestock and wildlife. But coming to the mating and breeding seasons, chirus will require larger meadows to survive. I have to restrict grazing."In Gagya Darma's Tibetan-styled house, three posters on the wall are most eye-catching. Each of them is painted with the pictures of different wild animals and their names. Although the head of this household is not very talkative, he is willing to show his fervent love towards wildlife through actions.

"I can't leave those animals behind. As long as I am fit, I won't retire. I have a son. Hopefully, he could become a patrol one day."According to Nukhyung, head of Nyima County Forestry Police Bureau, the local government has recruited over 130 patrols from local herdsmen so far. This year, the quota will increase to over 200 and more conservation stations will be built.

Back Anchor:

That is CRI's Liu Xiangwei reporting.

Iran, Britain reopen embassies after a 4-year impasseAnchorThe British embassy in Iran has reopened nearly 4-years after it was shut down by massive demonstrations which ended up leaving the two countries with virtually no diplomatic ties during that time.

CRI's Poornima Weerasekara reportsReporterBritish Foreign Secretary Philip Hammond has overseen the raising of the British flag at the embassy in Teheran on Sunday, almost four years after Iran expelled the UK's ambassador in retaliation for sanctions over its nuclear program.

The diplomatic reprochment is part of the nuclear agreement Iran signed on to last month in in Vienna.

Hammond is the first British Foreign Secretary to visit Iran in almost 12-years.

He says the re-opening of the embassy in Tehran is one of a number of steps the UK government will be taking to try to regain trust with Iran.

"We have to start slowly and carefully and build a relationship and see how far we can go. There's a big deficit of trust at the moment and there are major issues on which we have fundamental differences of view. But the symbolic importance of deciding to reopen embassies in each others' countries is that we've chosen to talk to each other about those differences."The UK embassy in Tehran was closed in 2011 after protesters stormed the embassy compound - smashing windows, torching cars and burning flags.

The protests, which the UK government says it believes were backed by the Iranian government, came after the UK announced a series of sanctions on Iran connected to its nuclear program.

Iranian Foreign Minister Mohammad Javad Zarif says the re-opening of the British embassy should help benefit Iran.

"Iran has been prepared to engage with all its neighbours without excluding anyone. We believe that exclusion should not be the practice in our region, we believe that all of us face the same challenges, all of us have similar opportunities to improve the living standards of the people of this region."In re-opening the embassy in Tehran, spcialists are working to clean up the building, which involves removing graffiti, including some above a portrait of the Queen which says "Death to England."Initially, the British embassy will be headed by a charge d'affaires.

An agreement on upgrading to full ambassador status is expected to be reached in the coming months.

A British trade delegation has also traveled to Tehran to discuss future trade opportunities.

UK banks have been keen on doing business with Teheran again after Iran was frozen out of the global financial system as part of the sanctions.

Meanwhile, in London, former Foreign Secretary Jack Straw has attended the re-opening of the Iranian embassy.

"It's a very important day in terms of relations between Iran and the United Kingdom for all sorts of historical reasons which go right back to the 19th century. Relations have always been quite difficult and they reached a further nadir in November 2011 with the invasion of our embassy in Tehran, but this is really good news, it's a good day and of course it builds on the agreement which was made between the P5 plus 1 and the Islamic Republic back in July."The thaw between Britain and Iran first began with the election victory of President Hassan Rouhani in 2013.

UK Foreign Secretary Phillip Hammond is due to meet with him later today.

For Cri I'm Poornima WeerasekaraWorld Water Week opens with water and energy amidst rapid urbanizationAnchorA series of seminars are set to get underway in Stockholm, Sweden later on this Monday discussing how to manage the world's water resources.

CRI's Chen Xuefei has more.

AnnDoctor Li Lailai, China Director of the World Resources Institute says sustainable supplies of water and energy are intensifying in China as human demand continues to grow.

She says water conservation is becoming a critical issue.

"We do have a program called sustainable cities. Water is not like energy, for energy we have tried to improve the efficiency and we try to develop renewable energy as substitute for fossil fuels, we don't have substitute for water, when we look at water and energy, they're interfaced, so our strategy is to close the loop from resources to waste, I think saving energy means saving water."Zhong Lijin with the World Resources Institute says the city Qingdao in Shandong is one example of where programs are being implemented.

"Qingdao is a water-scarcity city, it faces serious water shortages and the groundwater supply cannot meet the demand, and Qingdao is a very fast economic development area. Qingdao considers to use water from desalination, but desalination requests a lot of energy and request a lot of cost to produce water. "Doctor Wang Lei with the World Wide Fund for Nature in China says another issue is maintaining the resources which live in the waters in China.

"We need to have a full picture about what we gain and what we lose, at the same time make sure the loss should minimized."Conservationists taking part in this week's workshops are expected to focus on numerous areas, including conservation and the treatment of waste water.

Around 100 people are taking part in the sessions.

For CRI, this is Chen Xuefei reporting from Stockholm.

US national zoo anticipates survival of both new-born panda twinsOfficials at the National Zoo in Washington, DC say they're optimistic a pair of newborn panda cubs will survive.

Chief veterinarian Don Neiffer says the young cubs still require a lot of attention.

"The baby pandas are born quite in need of maternal care, they have next to no fur, they're not able to thermo-regulate very well and they need to constantly be receiving some calories and some fuel for the furnace. Because we have twins and because there can be some challenges with mom raising twins at the same time we've followed our protocol where we will swap out the babies over the course of a day."The technique of swapping the cubs has allowed several pairs of pandas to survive over the past decade.

Mei Xiang gave birth to the cubs on Saturday.

If the cubs survive, they will be 17-year-old Mei Xiang's third and fourth surviving offspring.

Her first cub, Tai Shan, was born in 2005.

It was returned to China in 2010.

Her second cub, Bao Bao, still lives at the zoo in Washington.

Lebanese prime minister: police are held accountable for protestsLebanon's government is moving to try to distance itself from a series of violent protests which have been taking place in Beirut since Saturday.

Police have been using tear gas, rubber buillets and water cannons to dispurse crowds of thousands who have taken to the streets to protest uncollected garbage.

Lebanese Prime Miniser Tamman Salam says the heavy-handed actions of the police isn't warranted.

"What happened, no one can escape from carrying the responsibility and especially after the excess use of force against the committees of the civil society organisations and the people. It is correct that there were some infiltrators who misused it for escalations and for tension but we considered ourselves part of it and not the enemy of it. "Dozens of protesters and police officers have been hosptialized as part of the unrest.

Beirut closed its main landfill last month, leaving garbage collectors without a place to take the trash to.

WeatherBeijing will be cloudy with a high of 29 degrees Celsius.

Overnight temperatures should drop down to 20.

Shanghai will have moderate rain with a high of 27 and a low of 23.

In Chongqing, it will be cloudy during the daytime with a high of 32 and lows of 24.

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

Islamabad will see slight rain with a high of 34.

Kabul will have slight rain with a high of 27.

Over to North America,New York will see slight rain with a high of 28 degrees.

Washington, overcast with a high of 33 degrees.

Honolulu, slight rain, 28.

Toronto will be overcast with a high of 24 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 14.

And Rio de Janeiro will have slight rain with a high of 25 degrees Celsius.

Headline newsBeijing-Tianjin-Hebei development plans laid outNew development plans for the Beijing-Tianjin-Hebei region have been laid out.

The overall plan is to transfer non-essential government functions out of Beijing into the neighboring regions.

Transportation integration, environmental protection and industrial upgrades are going to be fast-tracked over the next couple of years.

Tianjin is being tapped as a national research and development base for advanced manufacturing.

It's also being designated as the shipping hub for northern China.

The surrounding province of Hebei has been earmarked as an experimental area for industrial transition and upgrading.

The new development plans also include the previously-announced 80-billion-yuan airport being built in southern Beijing on the border with Hebei.

Authorities also say they hope to cap Beijing's population at 23 million people by 2020.

Tianjin Blast Death Toll Rises to 123The official death toll from the Tianjin Port explosions has now been increased to 123.

This follows the confirmation of the DNA of two more victims.

50 others are still listed as missing.

624 people remain in hospital, including 44 in critical condition.

China releases organ donation guidelineThe first national guideline on organ donation in China has been published.

The guideline includes ethics, standards to judge death, and standards on extraction and distribution of organs.

The country began a voluntary organ donation trial in 2010 and promoted the practice across the country in 2013.

China banned the use of prisoners' organs for the purpose of transplants at the beginning of the year, making citizen donations the only legitimate channel.

China holds International Congress of Historical SciencesA Historical Sciences symposium is underway in Shandong's capital, Jinan.

Over 25-hundred historians representing 900 international institutions are taking part in the 7-day meeting.

Chinese vice-Premier Liu Yandong has addressed at the opening ceremony.

China, ASEAN strive to end talk on upgraded FTAChina and ASEAN have agreed to step up their negotiations on an upgraded Free Trade Area agreement.

Chinese Commerce Minister Gao Hucheng says they expect the talks to be concluded by the end of this year.

The current China-ASEAN FTA came into effect at the start of 2010.

China is now ASEAN's biggest trading partner.

Bilateral trade between the two sides is expected to hit 500 billion US dollars this year.

U.S Army base in Japan explosion confirmedThe Pentagon has confirmed a US military base near Tokyo was hit by an explosion this morning.

No injuries have been reported.

The facility is located around 40 kilometers outside Tokyo.

The cause of the blast isn't known at this point.

Three separate explosions hit the same base area in April of this year, in what police suspect were set off by left-wing Japanese extremists.

Biz ReportsAnchorTurning onto business news. First let's get a preview of what we can expect on the markets this week.

Here's Luo Wen.

ReporterThis week, stocks could remain under pressure if turbulence in China's stock market continues to stoke worries about the global growth picture.

Any further attempts by China to devalue the yuan could also bring more pain for emerging markets and their currencies.

In the United States, economic data, including the second reading on GDP and more data on the housing market may bring back some expectations for a September rate hike from the Federal Reserve.

On Tuesday, the U.S. Conference Board, an industry group, is expected to issue the index of consumer attitudes.

The U.S. consumer confidence index is expected to rise to 93.3 in August from 90.9 last month.

On Thursday, the National Association of Realtors on Thursday releases its Pending Home Sales data for July.

Economists expect the index to have gained 1 percent in July after it declined 1.8 percent in the previous month.

On the same day, U.S. real GDP preliminary reading for second quarter will be released.

Consensus is an annualized rate increase of 3.2 per cent.

On the corporate front,Electronics retailer Best Buy is set to reports its second-quarter earnings on Tuesday.

Teen apparel retailer Abercrombie & Fitch is expected to report its tenth straight quarter of falling sales on Wednesday.

The company's North America sales are expected to fall again in the second quarter, mainly due to weak traffic and demand for its clothes, heavy discounts and intense competition.

Finally on Thursday, luxury jeweler Tiffany & Co is expected to report second-quarter sales and profit in line with estimates.

Investors will be interested in comments on the impact of the recent yuan devaluation in China and how that could affect business and any forecast for the current year.

Lock-up shares worth 62 bln yuan to become tradableLock-up shares worth around 62 billion yuan, or 9.7 billion U.S. dollars, will become eligible for trade on China's two stock markets this week.

Bank of Communications will see shares worth around 40 billion yuan become tradable on the Shanghai Stock Exchange this morning.

Major shareholders in China must hold non-tradeable shares for up to 2-years before the stocks can begin trading in the markets.

This comes amid the volatility which has continued to plague the markets here in China.

The Shanghai composite index plunged 4.3 percent on Friday following the release of weak economic data.

China pension fund allowed to invest in stock marketAnchorThe final guidelines have been issued for how the Chinese government plans to invest the pension fund.

New rules will allow Chinese authorities to press for larger returns, which will include allowing authorities to invest the money into the domestic stock market.

30-percent of the 3.5-trillion yuan in the pension fund is going to be invested in various areas.

For more on the new move, we're joined on the line by Mike Bastin, director of China Business Center based in London.

Q1. Judging from previous pension fund investment parked in banks or invested in treasury bonds with low yields, will this new move really help create more value for the massive fund?

Q2. Pushing for diversified investments, the State Council stressed an "active and cautious" approach in the process. With China's stock markets' recent volatility, how can the authorities maintain risk control?

Q3. Insiders say the invested pension fund could inject huge amount of capital to the market, and could help reform the investment structure of the A-share market. What is your take on that?

Back anchorMike Bastin, director of China Business Center based in London.

UAE stocks plummet amid global economy woesStocks listed on exchanges in Dubai and Abu Dhabi have recorded their worst daily losses in months through this Sunday.

Dubai's main index, which trades from Sunday to Thursday, has shed 7 percent on its opening day of the week, sinking to a 5-month low.

Dubai's sister market ADX in Abu Dhabi closed down 5-percent.

Volitility on the global stock markets on Friday is being seen as one of the driving factors.

Falling oil prices also dampened market sentiment in the United Arab Emirates, which is a major oil supplier.

Brent crude in London fell more than a dollar on Friday to close at around 45 U.S. dollars a barrel.

IMF Official Says 'Premature' to Speak of Chinese CrisisThe International Monetary Fund says it feels China's economy remains stable, suggesting any talks of a "crisis" in China is premature.

Global stock markets were hammered on Friday on concerns about China, driving Wall Street to its steepest one-day drop in nearly 4-years, shedding over 3-percent.

The Dow's dramatic slide followed a report on Friday showing manufacturing has shrunk in the first three weeks of August, despite the value of the renminbi coming down against the US dollar.

A lower renminbi makes it more cost-effective for manufacturers.

The IMF says it plans to discuss the downturn in the valuation of the renminbi with Chinese authorities in the coming months.

Chinese authorities have been pressing to have the RMB included in the IMF's Special Drawing Rights basket of currencies.

However, its expected the IMF won't be adding the Chinese currency into the basket until September of next year at the earliest.

Google to invest 150 mln euros in Dublin data centerGoogle has announced plans to invest 170 million U.S. dollars in a new data center in Dublin, Ireland.

The new facility will be situated alongside its existing data center in west Dublin, which was opened 3-years ago.

It's going to be responsible for handling a number of Google services, including Gmail, Maps and YouTube.

Ireland's naturally cool climate is said to be one of the main draws, as lower temperatures translate into money savings for hot-running data centers.

Microsoft to shut down Salo plant, move to other cities in FinlandMicrosoft has announced its closing one of its manufacturing facilities in Finland.

The plant in the city of Salo was taken over by Microsoft after it purchased Nokia's mobile phone division.

This is going to leave around 23-hundred people out of work.

Microsoft announced in July that it was preparing to cut78-hundred jobs around the world this year.

Most of the job cuts are in the phone business bought from Nokia more than one year ago.

Air China to launch four Asian routes in Oct.

Air China has announced a number of new additions to its flight schedule in Asia.

A Beijing-Mumbai route is going to be expanded to four flights every week.

The Beijing to Kuala Lumpur route is also being bumped up to 4-times a week.

A new route between Beijing and Karachi, Pakistan will have 3 flights a week.

The Beijing to Columbo, Sri Lanka is also being expanded to 3 fights every week.

SportsUsain Bolt Wins 100m Gold at IAAF World ChampionshipsHitting the starting block with an athletics recap from the IAAF World Championships in Beijing on Sunday:

Jamaica's Usain Bolt put all doubts to rest after producing his biggest clutch performance to beat rival Justin Gatlin in the 100-meter final.

Bolt clawed back into contention after trailing for most of the race and made his giant stride count to win in 9.79 seconds - .01 seconds faster than Gatlin.

The two-time olympic champ says he needed to take the pressure off himself for the finals after his sub-par semi-finals finish.

"I remember I come around and my coach asked me what happened, and I said I really don't know and he said, I think you think about the race too much, you think about try to get a perfect race, get anything better, and he said listen, you've been here too many times and you know what takes you to win, so just relax and get it done and execute it, and all you can do is just to execute as possible as you can."Gatlin says, despite taking silver, he gave it his all:

"At the end of the day, I had a good stretch, I showed a lot of competitiveness, I went out and then gave it, all I can give at this point of time. The last five metres was little crucial, lean forward a little bit too much and caught off a little unbalanced, but it was a good race and all."Chinese sprinter Su Bingtian became the first from his country to run the blue-ribbon sprint event final at the outdoor world championships.

More Athletics Recap from IAAF World ChampionshipIn other athletics action from Sunday:

Spain's Miguel Angel Lopez dashed China's hopes to win their first men's 20km race walking title when he seized the victory in one hour, 19 minutes and 14 seconds.

London bronze medalist Wang Zhen finished 15 seconds behind Lopez for silver. His compatriot and London Olympic winner Chen Ding had a disappointing ninth-place finish.

In men's hammer throw, Poland's Pawel Fajdek won with a throw of 80.88 meters.

Joe Kovacs of the United States won the men's shot put in 21.93 meters.

Olympic champion Jessica Ennis-Hill won her second world heptathlon title with a score of 6,669 points, after fellow Briton Katarina Johnson-Thompson failed to score in the long jump.

Shanghai SIPG Tops CSL After 2-1 Win Over Rivals ShenhuaIn football action from the Chinese Super League last night:

Shanghai SIPG jumped to the top of the league standings after downing crosstown rivals Shanghai Shenhua 2-1.

The win comes just four days after Shenhua emerged victorious over SIPG on penalties in the Chinese FA Cup.

In other CSL action:

Chongqing Lifan edged Shijiazhuang 1-0;Guangzhou R&F beat Jiangsu Sainty 2-1;Hangzhou Greetown defeated Guizhou 2-1;And Tianjin Teda evened out with Liaoning 0-0.

The Chinese Super League takes a break for the upcoming FIFA World Cup Qualifiers and will resume on September the 12th.

Football: EPL, La Liga RecapIn football action from the English Premiere League:

Manchester City continued their perfect start to the season with a 2-0 win over Everton.

Man City manager, Manuel Pellegrini, says he hopes his side can stick to their winning ways as the season progresses:

"We can score goals in every game that's why we scored eight goals in three games and had three clean sheets. It's important that we just started the season to continue so far in the way we are doing."In other EPL action:

Defending champs Chelsea got their first win of the season after beating West Brom Albion 3-2 on Sunday.

And Watford and Southampton tied nil-nil.

Over in accion de La Liga:

Barcelona beat Athletic Bilbao 1-0.

Newly-promoted Sporting Gijon held Real Madrid to a nil-nil draw.

Lewis Hamilton Cruises to 1st Place at Belgian GPIn Formula 1 racing action:

Lewis Hamilton won the Belgian Grand Prix on Sunday from pole, holding off Mercedes team-mate Nico Rosberg and cushioning his lead in the Formula One driver standings.

The defending champion was two seconds ahead at the finish line for his sixth victory of the season in 11 races.

Rosberg had a poor start and dropped from second to fourth before regaining the second position to take second.

Lewis Hamilton on overcoming his team rival, Rosberg, once again:

"Nico was allowed to close the gap. But it felt really controlled the whole way and as I say... a lot of good assistance from the team. So... yeah it felt like 100 per cent all weekend."Hamilton's 80th podium pulled him level with the late F1 ace Ayrton Senna in fourth on the all-time list.

Romain Grosjean drove his Lotus to third place.

Federer, Williams Emerge Victorious in CincinnatiIn tennis:

Roger Federer won his seventh title in Cincinnati when he defeated Novak Djokovic in the final and in the process denied the top-ranked Serbian the one title to elude him.

Federer never faced a break point during his 7-6, 6-3 victory at the Western and Southern Open.　Djokovic, meanwhile, has lost all five of his Cincinnati finals, never winning so much as one set.

In women's action from Cincy:

Serena Williams defeated third-seeded Simona Halep in straight-sets.

It's Williams' second-straight Cincy title.

Golf: Davis Love III Wins Wyndham ChampionshipIn golf:

American Davis Love III shot a final round of 64 to win the Wyndham Championship.

Shooting a total of 17 under, 51-year-old Love beomes the third-oldest PGA Tour winner.

Entering the final round tied for second, Tiger Woods fell to 10th, behind the leader by four strokes at 11 under.

Shooting in the 60s until his fourth-round finish of 70, Woods had his best finish of the season at the Greensboro, North Carolina, tournament.

Howver, Woods will not be entering the coming FedEx Cup.

Cricket: Australia Beats England for Final Ashes GameIn cricket:

Australia defeated England by an innings and 46 runs on Sunday in the fifth and final Ashes test for a consolation victory at The Oval.

Resuming the fourth day on 203-6, England were all out for 286 in 101.4 overs.

However, England had an insurmountable 3-1 lead in the series, having regained the urn by winning the fourth Test at Trent Bridge.

Entertainment Film "A Journey through Time with Anthony" releases a trailer with music score by Faye WongThe forthcoming Chinese film "A Journey through Time with Anthony" has released a trailer with a music score that includes Faye Wong's 1997 song "Renjian".

The film focuses on the comic experiences of a Chinese student named Anthony who is studying abroad. He is portrayed as a "sweet guy" who loves traveling, writing and is good at cooking. He meets his dream girl by chance, but their relationship is full of unexpected twists.

The film has been adapted from the namesake best-selling novel featuring the joys and sorrows of youth.

It is directed by Qin Xiaozhen and stars Chinese actor and model Liu Chang and actress Bai baihe who also stars in the recent box office hits Monster Hunt and Go away Mr. tumour.

Film "A Journey through Time with Anthony" will open on Oct 16.

IMAX Expands Tie-Up with Shanghai Film CorporationCanadian based IMAX has signed a deal with the Shanghai Film Corporation to open five more IMAX theaters in China.

IMAX says its current multiplexes in Hangzhou, Qingdao, Shenzhen and Chengdu will be expanded under the new deal. A new theatre will be built in Changzhou in east China's Jiangsu province.

By the end of 2021, IMAX plans to set up nearly 219 giant screens all across China.

China's box-office revenues surged 36% to almost 5 billion US Dollars last year. Riding on this growth wave, the Chinese division of IMAX generated profits of almost 23 million US Dollars in 2014.

Kanye West Brings Out Rihanna, Travis Scott at FYF FestAlthough Kanye West was a last-minute replacement at the Los Angeles FYF Fest, the rapper still had some surprise acts up his sleeve.

He welcomed both Rihanna and Travis Scott on stage during his Saturday set.

Rihanna joined the rapper to sing "FourFiveSeconds" and "All of the Lights."Scott came out for a mini-set of his singles "Upper Echelon" and "Antidote."West's decision to call Rihanna on stage was a spontaneous one: She was just attending the FYF Fest and was near the stage when West spotted her and handed her the microphone in the pit during "FourFiveSeconds."West's FYF Fest performance opened up with the Watch the Throne single "No Church in the Wild."Taylor Swift sings with Kobe Bryant in '1989' LA ShowTaylor Swift had a few surprises for her fans, when she kicked off the fifth show on her 1989 World Tour in Los Angeles. She brought on-stage five-time NBA champion Kobe Bryant and OneRepublic singer and songwriter Ryan Tedder to sing along with her.

Swift invited Tedder on the stage to perform one of their smash hits "Counting Stars" from the OneRepublic's 2013 album "Native."Bryant, whose team's home base is in LA joined in for another hit single "Style."Swift has been bringing out a number of celebrities for her tour including female pop groups Fifth Harmony and Little Mix.

The 1989 World Tour is the fourth concert tour of Swift which reflects her songs and work from her album entitled "1989," released last October.

The tour began in Tokyo last May 5 and will wrap-up on Dec. 12 in Melbourne.

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

Recapping our top stories this morning...

New development strategies for the Beijing-Tianjin-Hebei regions have been laid out.

Final preparations are now underway for the military parade in Beijing, which is set to take place in less than 2-weeks.

A passing typhoon is dumping heavy rains on Zhejiang.

In Business... over 60-billion yuan worth of shares are set to become tradeable in China later this morning.

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.