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

Coming up on the program this evening...

Some of China's latest military gear will be on display during the parade marking the 70th anniversary of the end of World War II...

The US National Security Adviser will visit Beijing this week to discuss a range of issues, including the Chinese president's US visit...

and several apartment buildings badly damaged during the Tianjin explosions have been declared structurally safe...

In Business...strong profit numbers for China Merchant's Bank...

In Sports...action from the Athletics World Championships continues at the Bird's Nest stadium in Beijing...

And in Entertainment...a Cantonese opera based on China's resistance to invasion during World War II...

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

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TopNew Armaments to Steal ShowAnchor:

The parade in Beijing on September 3rd to mark the 70th anniversary of the end of the war is going to showcase some of China's latest military equipment.

CRI's Luo Wen has more.

Reporter:

More than 500 pieces of China's latest equipment will be displayed in the upcoming parade.

All are domestically produced.

At least 4 out of 5 have never been seen before by the public.

Li Guangbin is one of the commanders coordinating the parade.

He says the display will be much larger than any of the previous parades put on in China.

"A larger variety of armaments, including tanks, artillery, missiles and aircraft will be displayed this time. They are going to show our progress in building a more professional army which is capable of joint operations."Advanced weapon systems have been put on display during previous parades, including a new ballistic missile which went public at the National Day parade in 2009.

This time, the navy will be putting forward its latest anti-ship missiles, as well as ship-to-air missiles and carrier-based aircraft.

The air force is going to be highlighting its long-range bombers, fighters and early warning aircraft.

Other military hardware set to be showcased includes China's newest helicopter gunships, battle tanks and 7 different types of ballistic missiles.

People in Beijing are also going to be treated to a flyby of some 200 warplanes and helicopters, which will be divided into 10 different groups.

Air force commander Feng Aiwang says they want to make sure people play close attention to the formations they're flying.

"There will be an echelon of helicopters flying in a 70-formation representing the 70th anniversary of the victory. The national flag and the army flag will also be hung off of helicopters flying past Tian'anmen Square."Feng says making formations like this are much harder than people think.

"The speed of a helicopter is 160 kilometers per hour. A fighter jet travels at 600 kph. It's a tough job to schedule more than 100 planes at different speeds to fly past a designated place at a designated time under changing weather conditions."This year's fly-by was tested this past Sunday.

The military display is set to begin on the morning of September 3rd.

For CRI, I'm Luo Wen.

Hong Kong holds large-scale exhibition to mark war anniversaryAnchor:

A large exhibition commemorating the 70th anniversary of China's victory over Japanese aggression is now on display in Hong Kong, highlighting the Special Administrative Region's role during the war.

CRI's Hong Kong correspondent Li Jing has the story.

Report:

The exhibition features numerous artifacts, photos, and videos relating to the war, allowing the public to learn about this period of history, and to help them cherish the hard-won peace.

During the Second World War, the Japanese army occupied Hong Kong for 3 years and 8 months, starting in 1941. But during that occupation people in Hong Kong helped to supply military goods to the resistance forces, while also playing an important role in propaganda against Japan.

92-year-old Poon Kwong-wai, a former member of the Hong Kong Independent Battalion of the East River Column, recalls his experience during the war.

"Once I was surrounded by the Japanese army, and they asked the villagers where the guerrillas were hiding, the villagers refused to tell them, and they were killed ruthlessly."97-year-old Chen Bingjing, the only Chinese 'flying tigers' pilot that's still alive, hopes all Chinese can unite as one to rejuvenate the nation.

"I was taught that the most important things in life are to be loyal to my country, to respect my parents and to love my compatriots. We all have dark hair and an Asian complexion. The blood running in our bodies is the same, so people in Hong Kong should remember that we are of the same family."Hong Kong Chief Executive CY Leung says history should always be remembered by all Chinese people.

"During the Japanese invasion in Hong Kong, there were concentration camps in different places and a large number of people were killed. But at the same time, guerrillas and Independent Battalions of the East River Column relentlessly fought back. The young generation in Hong Kong should learn the history of our nation, and know the importance of a nation's power. The people in Hong Kong are sharing the same destiny with all Chinese."A series of educational activities including talks, workshops, and screenings will be held across Hong Kong this year to commemorate Japan's surrender at the end of WWII.

Last year, Hong Kong held its first commemoration of China's victory against Japanese aggression. This year, just like the Chinese mainland, Hong Kong will have a special public holiday to mark the 70th anniversary.

For CRI, this is Li Jing in Hong Kong.

China, Venezuela jointly commemorate end of WWIIChina and Venezuela have joined hands to commemorate the 70th anniversary of victory over Japanese and the end of World War II.

A picture show sponsored by the Chinese embassy in Venezuela was staged to introduce China's role in the war and the history of the main battle field in the East.

Delcy Rodriguez, Foreign Affairs Minister from Venezuela, says China and Venezuela both pursue a foreign policy of peace.

"We should make continuous effort to create a better world. Now we are commemorating this historic moment to better protect human beings in the future. China has always been making peace as their basic foreign policy principle. We hold the same view over this point. Venezuela also pursues a foreign policy of peace."Zhao Bentang, Chinese Ambassador to Venezuela, says it indicates that the two countries share a common stand of opposing war and safeguarding peace.

"President Maduro has been invited to attend the commemorative activities on September 3. It means that the two countries share a high degree of consensus and view as to remembering history, opposing war, and safeguarding peace. "It's been confirmed that President Nicolas Maduro will attend China's V-Day celebrations on September 3.

Evidence first published on Japanese plundering Chinese mineral resourcesThe Chinese Ministry of Land and Resources has released nearly 8,000 copies of its geological archives, which extensively record the plunder of China's mineral resources at the hands of the Japanese during World War II.

Zhang Hongtao, former general engineer of the Ministry of Land and Resources, says the archives are proof of Japan's theft of Chinese resources.

"All these abundantly reveal that the Japanese imperialists plundered China's mineral resources. We speak with history which proves how serious the crimes the Japanese aggressors committed in plundering the Chinese resources."The geological archives include over 6,000 copies of materials complied by the Japanese aggressors and nearly 2,000 copies by Chinese geologists.

It is the first time that China has publicized this evidence.

US National Security Adviser Rice to visit Beijing this weekendUS National Security Adviser Susan Rice will visit Beijing on Friday and Saturday to discuss a range of issues with officials.

The Chinese Foreign Ministry has confirmed the visit, which comes ahead of President Xi Jinping's visit to the US next month.

The US State Department says the visit by Xi Jinping is significant to Sino-US relations and the US will make efforts, together with China, to guarantee the success of this visit.

The State Department says the US president looks forward to the visit, despite calls from some US lawmakers for the meeting to be cancelled.

China Eyes Cooperation via Moscow Air ShowAnchor:

The 2015 International Aviation and Space Show in Russia is now underway. This time, Chinese companies bring new products, such as civilian aircraft and carrier rockets to the show, in hope of seeking potential international cooperation in aviation and space.

CRI's Zhao Jianfu has more.

Reporter:

Russian President Vladimir Putin says he hopes the event can demonstrate the country's strength in the aviation sector and expressed an open attitude in cooperating with foreign partners.

"We are to enhance Russia's unique advantages in the aviation field and consolidate our leading role in manufacturing military aviation equipment. Therefore, we should carry out modernization and upgrading in aviation and space rocket manufacturing, bring in state-of-the-art facilities and improve every link, resulting in products of better quality."The air show has attracted more than 760 enterprises and exhibitors from around the world to showcase their latest aircraft.

China's Aviation Industry Corporation demonstrated the passenger compartment of the new regional civil airline MA700 and the new Harbin Y-12F airplane.

Wu Xiandong with the Aviation Industry Corporation of China says the Y-12F will give the industry a better view of the transport plane.

"We hope that through the air show we can attract more potential clients to buy our Y-12F. And the Y-12E will receive an airworthiness certificate from the Russian aviation authorities during the show. It is the first airworthiness certificate that a Chinese company will have received from the Russians, which is a milestone for Chinese airplanes in Russia and Commonwealth of Independent States."Wu adds that China and Russia will deepen their cooperation in products, technology, capital and information sharing in the coming years.

Another Chinese company, Great Wall Industry Corporation, has attracted Russian President Vladimir Putin to their new products—the Long March 7 carrier rocket and DFH-5 satellite platform.

Putin says he will continue supporting Sino-Russian cooperation in aviation and space.

CEO of the Great Wall Industry Corporation Yin Liming echoes that his company will sign strategic cooperation agreements with a Russian state-owned technical group during the exhibition.

"China's aviation and space industry has developed fast in recent years. We have made great progress in developing new products, carrying out cooperation with foreign companies and bearing some new ideas. As the cooperation between China and Russia moves on, we have expanded our cooperation from probe and satellite applications to more professional technologies."The air show will run until Sunday and is expected to attract more than 500,000 visitors.

For CRI, I'm Zhao Jianfu.

President-elect promises to build clean AIIB in interest of allPresident-elect of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun, who has also been named secretary general, says he will build a clean institution for the interests of all member countries.

"Any form of corruption would indicate the failure of the China-led institution. We have made the resolution to build a clean AIIB, making it a good example for other international institutions. That is also my resolution. We were determined to run the bank well in accordance with the international practice the moment we proposed its establishment."He says the establishment of the bank has going smoothly.

He has previously served as China's vice finance minister, vice president of the Asian Development Bank, and chairman of the Supervisory Board of China Investment Corporation.

Four countries begin 37th joint Mekong river patrolChina, Laos, Myanmar and Thailand launched a 37th joint patrol along the Mekong River on Tuesday.

The patrol ships set sail from the Guanlei port in Yunnan province, southwestern China.

During the mission, the four countries will take a series of law enforcement actions and send commanders and liaison officers to work together aboard the Chinese command craft.

The ships will go through Banxiangguo, Mengmo and the golden triangle waters of Laos to coordinate efforts against smuggling.

The mission is also aimed at strengthening measures against drug trafficking, guns, and other illegal materials.

China busts 66 illegal money shopsChinese authorities have busted 66 illegal money shops since launching a crackdown campaign in April.

The police have seized over 430 billion yuan, arresting more than 160 suspects.

Ouyang Xiong with the State Administration of Foreign Exchange says it has found that some banks haven't been performing due diligence checks.

"They gave the green light to abnormal trading involving enormous sums of money and frequent trading, and to enterprises whose foreign exchange receipts and payments deviated from their operation conditions. We also found even some bank staffers were involved in trading with illegal money shops, which had a very bad influence."The police say efforts to find criminal activities will be enhanced in a new round of crackdowns, which started Monday.

They will focus on finance and securities crimes, corruption, and terrorism connected to the underground money shops.

Tianjin blast-hit buildings structurally safeEleven of the 12 apartment blocks worst hit by the warehouse explosions in Tianjin have been officially classified as structurally safe.

The city's bureau of land resources and housing management released its conclusions from an inspection of the buildings in a report on Wednesday.

One apartment block was given a lower rating because a fire-damaged apartment on the 19th floor had parts of its rebar exposed to air.

The defect will not affect the major structure of the building.

On Tuesday, five state-owned property developers in Tianjin said they had formed an alliance to purchase blast-hit apartments from willing residents and to re-sell them after renovation.

Torrential rain causes flood, mudslide in YunnanTorrential rain is wreaking havoc in Zhenyuan County in southwest China's Yunnan Province, causing flooding and mudslides that have damaged roads and homes.

Flash flooding has occurred in low-lying downtown neighborhoods, where muddy debris has piled up as high as dozens of centimeters.

Du Manyun, owner of a flooded store, describes his losses.

"All of our goods were stored here, in this place we have rented and worked in so hard for years. Now it's gone completely, and the losses are around 20,000 or 30,000 yuan at least."Torrential rain and flooding also hit Funing County on Tuesday night, and five people are reported missing.

Local authorities dispatched personnel to the area to help flood victims and calculate economic losses.

Tibet: Highway between Lhasa and Nyingchi Is to OpenAnchor:

As a main pathway connecting dozens of key highways in Tibet, the Lhasa-Nyingchi Highway bears great significance in building a flexible traffic network covering China's border provinces. After more than 2 years' construction, the highway is ready to open.

Our reporter Chi Huiguang has gone west to find the details.

Reporter:

As one of the most important construction projects in Tibet, the highway between Lhasa and Nyingchi is expected to open by the end of the month.

Nyima Tsering is a chauffer working in the transportation bureau in Nyingchi, and often drives his SUV to-and-from Lhasa. He is very excited about the highway's opening.

"Previously, it took 7 or 8 hours to drive to Lhasa. And it takes more than 10 hours for a bus. After the highway's opening, travel time between Lhasa and Nyingchi will be reduced by at least three hours."Strict quality control has ensured that the whole process has been tracked and audited, supervised and inspected, for 100 percent road safety and quality.

Ren Wei is a director in the Comprehensive Coordination Headquarters.

"We built up the road along the Nyang River valley, a geologically hazard-prone area. It's common to encounter landslides, mudslides, rockslides, soft soil and frozen soil. And bridges account for 15 percent of the whole road. Last year, the rain season in Nyingchi was very long with heavy rainfall, which greatly effected the construction of bridges."In big construction projects such as this, environmental protection is always one of the most important issues on Ren Wei's mind.

"The environment in Tibet is very fragile. It's very difficult to recover once it is damaged. In some areas, it's even irreversible. We have made great efforts to protect the environment. We dug the earth in strictly designated areas along the road according to the officially approved plans, and leveled the ground immediately and planted trees. We also used the seed-nutriment-soil sacks to make the highway slopes green."The technology of the seed-nutriment-soil sacks he mentioned was jointly developed by Tibet University and Southwest Jiaotong University. They put these sacks with plant soil in areas on slopes along the bridges and roads.

"The thing that I am most proud of in building the highway is that we have created a lot of income for local Tibetan people. At the very beginning of the construction project, we worked hard with the local governmental departments to invite local people to join in. we have hired them as our workers, and rented machinery, vehicles and tractors from them.

The highway is nearly 410 kilometers long, with speed limits reaching 80 kilometers per hour.

That is CRI's Chi Huiguang reporting.

Official: South Korea Open to Talks Over Sanctions Against NorthSouth Korea says it is open to discussing North Korea's demand for an end to the sanctions imposed following a 2010 naval attack.

Jeong Joon-hee, spokesman for the South Korean Reunification Ministry, made the comments one day after the two countries reached an accord to defuse recent tensions.

"If the talks get under way between South and North Korea with regards to sanctions, I think the May 24 issue will be raised by the North which has an interest in it, and then it can be handled through dialogue."Jeong was referring to the sanctions announced by South Korea, on May 24, 2010, against the North after it accused the North of a torpedo attack on a navy ship. The attack killed 46 South Korean sailors. The sanctions targeted areas including tourism, trade and private aid.

On Tuesday, the two Koreas reached an accord in which North Korea expressed regret over a landmine explosion in early August near the South-North border that severely wounded two South Korean soldiers. The episode triggered the South to resume broadcasting anti-North propaganda near the border. South Korea agreed on Tuesday to cease the broadcasts. In the accord, the two sides also agreed to hold further talks to improve relations.

US Pacific Command Chief Visits the PhillippinesUS Pacific Command chief Adm. Harry B Harris Jr. has arrived in the Philippines.

Philippines officials say the visit is meant as an opportunity for the two nations to discuss "bilateral security concerns" and for the US commander to "gain local perspective on the security situation in the Pacific."Adm. Harris visited the Armed Forces of the Philippines General Headquarters on Wednesday and met with the country's top military leaders.

Colonel Restituto Padilla, Armed Forces of the Philippines spokesman, says regional issues were a major topic during the meetings.

"What transpired during the dialogue was a very frank and honest exchange of ideas regarding the evolving security challenges in the region as a result of natural disasters and issues involving the West Philippine Sea and the South China Sea."The spokesman says his country and the US have "a very robust military to military relationship" and that the two countries have seen an increasing exchange of visits among senior leaders.

Last month, US Pacific Fleet commander Adm. Scott Swift also visited the Philippines.

Volunteers: An Integral Part of Beijing IAAF World ChampionshipsAnchor:

Hundreds of volunteers have mobilized to make this year's World Athletics Championships in Beijing possible.

CRI's Qi Zhi has more.

Reporter:

Over 27-hundred volunteers, dubbed the "New Generation at the Bird's Nest," are activated among different posts at the IAAF Championships.

Xie Junyan heads a group of 72 volunteers.

His team is dealing with security.

"Our volunteers are here as an important force to ensure people's safety and security. If there are no volunteers, there wouldn't be enough security, which would allow people to come in without tickets. It could be chaos without us."Others, including Wang Sijia, a volunteer from the China University of Mining and Technology, are less concerned about safety, and more about making those at the event feel welcome.

"I'm a girl who loves smiling. Being able to convey happiness to others makes me feel great."Wang Sijia's fellow volunteer, Deng Yupei, is hoping to gain a little bit more practical experience from his time at the event.

"I've never had an experience like this before. Coming to such a big event, I'm really excited because its a whole new experience to me. I also think my time here has helped me improve my English. I've also made a lot of friends in here."Two-in-Five of the volunteers at the IAAF event have been put there specifically to help the international delegations.

Chinese visitors to this year's event say the volunteers are just as helpful.

"They are very considerate. We didn't know where our seats were when we first arrived. They directed us to the seats. They're very good."Outgoing IAAF President Lamine Diack has taken time to pay tribute to the volunteers, calling them "the true spirit of athletics."This year's IAAF Championships run until Sunday.

For CRI, I'm Qi Zhi.

WeatherBeijing will be cloudy tonight with a low of 21, tomorrow will be cloudy with a high of 31.

Shanghai will cloudy tonight with a low of 23, tomorrow will have shower, high of 31.

Chongqing will be overcast tonight with a low of 22, rainy tomorrow with a high of 27.

Lhasa will have thunderstorm tonight with a low of 11, tomorrow will have shower with a high of 23.

Elsewhere in Asia,Islamabad will be sunny tomorrow with a high of 36.

Kabul, rainy, 27.

Down in the Southern Hemisphere.

Sydney, overcast, high of 29,Brisbane,rainy,23,Perth, cloudy, 23,And finally Auckland, New Zealand will have slight rain with a high of 14 degrees Celsius.

Headline newsUS National Security Adviser Rice to visit Beijing this weekendUS National Security Adviser Susan Rice will visit Beijing on Friday and Saturday to discuss a range of issues with officials.

The Chinese Foreign Ministry has confirmed the visit, which comes ahead of President Xi Jinping's visit to the US next month.

The US State Department says the visit by Xi Jinping is significant to Sino-US relations and the US will make efforts, together with China, to guarantee the success of this visit.

The State Department says the US president looks forward to the visit, despite calls from some US lawmakers for the meeting to be cancelled.

Four countries begin 37th joint Mekong river patrolChina, Laos, Myanmar and Thailand launched a 37th joint patrol along the Mekong River on Tuesday.

The patrol ships set sail from the Guanlei port in Yunnan province, southwestern China.

During the mission, the four countries will take a series of law enforcement actions and send commanders and liaison officers to work together aboard the Chinese command craft.

The ships will go through Banxiangguo, Mengmo and the golden triangle waters of Laos to coordinate efforts against smuggling.

The mission is also aimed at strengthening measures against drug trafficking, guns, and other illegal materials.

Tianjin blast-hit buildings structurally safeEleven of the 12 apartment blocks worst hit by the warehouse explosions in Tianjin have been officially classified as structurally safe.

The city's bureau of land resources and housing management released its conclusions from an inspection of the buildings in a report on Wednesday.

One apartment block was given a lower rating because a fire-damaged apartment on the 19th floor had parts of its rebar exposed to air.

The defect will not affect the major structure of the building.

On Tuesday, five state-owned property developers in Tianjin said they had formed an alliance to purchase blast-hit apartments from willing residents and to re-sell them after renovation.

73 militants killed in Afghanistan within daySeventy-three militants have been killed during cleanup operations and air-strikes in Afghanistan since early Tuesday.

The country's Defense Ministry says another 25 terrorists were wounded and 12 others were detained over the past 24 hours.

The statement added, the army also seized weapons and defused several roadside bombs and landmines during the above operations.

It also confirmed losing four army personnel as a result of militant attacks within the same period.

The Taliban militant group has yet to make comments.

Argentina's southern railway line renovated with Chinese supportThe Argentine government has reopened a railway line between the capital Buenos Aires and the southeastern town of Gonzalez Catan, after receiving brand-new carriages from China.

Interior and Transport Minister Florencio Randazzo says the new units have received a warm welcome from passengers.

With the arrival of the new trains at the end of July, this line's capacity has been doubled.

It can now carry an estimated 100,000 passengers per day.

China has provided a range of equipment and expertise to help Argentina renovate its railway lines, which are key to its regional economies.

Biz ReportsStocksAnchor:

Turning to business news. First, CRI's Wang Mengzhen takes a quick look at the closing numbers.

Reporter:

Chinese stocks fluctuated wildly and ended lower on Wednesday despite the latest monetary easing moves by the central bank.

The benchmark Shanghai Composite Index closed 1.3 percent lower, plunging more than 3 percent during the morning session and jumping over 4 percent at its afternoon peak.

The smaller Shenzhen Component Index lost 2.9 percent. The ChiNext Index shed 5.1 percent.

More than 660 shares fell by the daily limit of 10 percent, while 47 shares rose by 10 percent.

Hong Kong's Heng Seng dropped 1.5 percent.

Elsewhere in Asia,Tokyo stocks jumped 3.2 percent on Wednesday after days of steep losses.

South Korea's KOSPI added 2.6 percent.

Singapore stocks finished lower on Wednesday, with the benchmark Straits Times Index down half a percent.

And finally Australia's ASX 200 ended 0.7 percent higher.

CFFEX to ease excessive speculation of stock index futures tradingChina Financial Futures Exchange (CFFEX) launched a string of measures on Tuesday evening to ease excessive speculation of stock index futures trading.

These measures include raising guarantee deposits for non-hedging-purposed transactions, tightening restrictions on an investor's intraday position-opening amounts for a single product, and raising commission fees for intraday position-closing transactions.

These measures will take effect starting from Wednesday.

PBOC injects 140 bln yuan into marketChina's central bank moved on Wednesday to further ease the economy.

The People's Bank of China says it will inject 140 billion yuan, or nearly 22 billion US dollars into the financial system through a short term liquidity adjustment (SLO) operation.

The yield of the 6-day loan is 2.3%.

Short term liquidity aims to reduce fluctuations in liquidity and stabilize inter-bank funding costs.

Two Cuts to Support the Real EconomyAnchor:

China's central bank has announced cuts to the benchmark one-year interest rate and to the reserve requirement ratio to support the growth of the real economy.

CRI's XYee brings more details.

Reporter:

The People's Bank of China says the economy is still facing downward pressure. Meanwhile, the global financial market has shown major fluctuations recently. Therefore, the central bank has concluded that it's necessary to apply flexible monetary policies to foster a stronger financial environment and to grow the economy.

Lu Lei, Head of the Central Bank's Research Bureau, says there are mainly two targets for this round of monetary policy.

"Interest rates for one-year lending and deposits have been cut by 25 basis points. This will definitely help to reduce corporate borrowing costs. The central bank also takes adequate liquidity in financial areas into consideration, which is necessary for the development of real economy. "On Tuesday, the central bank cut interest rates for one-year lending and deposits by 25 bps to 4.6 percent and 1.75 percent respectively.

The central bank also cut the reserve requirement ratio by 50 basis points, starting from September 6th.

The reserve ratio for county-level rural financial institutions has been further cut by an additional half a percentage point and the ratio for financial leasing and auto financing firms by an additional 3 points.

He Weiwen, senior fellow at the Chongyang Institute for Financial Studies at Renmin University, says this round of cuts is stronger than the previous one.

"Last time, it was only targeted to the rural banks and small and micro business. But this time, it's overall across the board, plus additional half a percent cut for rural business and micro small business, that's more stronger. The second point is there is no limit of upward potation after bank deposit rate for long term deposit one year and over. That means a further step towards market privatization. "China's last adjustment of the reserve requirement ratio was at the end of June.

The latest move comes after the Shanghai Composite Index dropped 8 percent for two consecutive days. Following the moves announced by China's central bank, global markets, especially the European market, rose sharply. However, it still needs time to see whether the two cuts will boost China's A share market.

Li Xunlei, Chief Economist of Haitong Securities, says investors should not be pessimistic.

"The stock market has mirrored people's worry on economic decline, deflation and financial crisis. However, being overly pessimistic over the market is irrational. The Chinese government has enough policy tools to put the economy right."China has emphasized over the last year that the real economy has entered a "new normal," a period of lower growth and deeper reforms.

For CRI, this is XYee.

China can achieve 7-pct growth in 2015: EconomistAn economist says China's 2015 growth target of around 7 percent is achievable.

Zhu Baoliang from the State Information Center, a government think tank, says China's economic fundamentals are sound and the global economy is showing signs of improvement.

Zhu says favorable conditions include huge domestic demand, the expanding services industry, and a government determined to deliver on its reform promises.

The economist adds exports in the second half of the year are expected to outperform the first half, as the United States, Japan and the eurozone "come in from the cold".

A traditional economic driver, China's exports grew 0.9 percent year on year in the first six months.

Zhu expects the inflation rate in the second half of the year to be no more than 2 percent, citing rising pork prices. It grew 1.3 percent in the first six months.

The government's annual inflation rate target is around 3 percent.

CITIC Securities : no notice received on investigation over senior managersCITIC Securities says it has not been informed that some of its senior managers have been asked to assist the investigation over illegal securities trading activities.

The company made this announcement on Wednesday.

The broker made the announcement in response to media reports that eight senior managers of the broker were suspected of doing illegal securities trading and had been asked by the public security unit to assist the investigation.

The report also says a journalist and several other people are suspected of fabricating and spreading fake securities and futures trading information.

One current and one former staff members of the China Securities Regulatory Commission are suspected of insider trading and forging official documents and seals.

Average profit margin of 60 Chinese property developers at 8.4% in H1Research by Centaline Property shows the average profits of 60 Chinese property developers rose 8.4 percent in the first half of this year.

The research shows combined net profits of 25 billion yuan, or nearly 4 billion US dollars.

Zhang Dawei, chief analyst with Centaline Property, says the average net profit margin of China's property developers in 2014 was 10 percent and the figure in 2013 was 12 percent.

As more small- and medium-sized property developers release interim results, the average net profit margin may be even lower.

Of the 60 property developers, 36 posted a profit margin below 10 percent and 28 reported a decline in net profit.

China Merchants Bank H1 net profits up 8.26 pct o-yNet profits at China Merchants Bank have climbed 8.3 percent year on year in the first half of this year.

The bank earned 33 billion yuan, or over 5 billion US dollars.

The bank's non-performing loans rose 0.4 points to 1.5 percent from the level at the beginning of this year.

Its total assets increased 10.3 percent.

The bank said three factors contributed to the good performance of the bank this year: the increase of net interest revenue over the expansion of assets, rapid growth of intermediary business, and lower operational costs.

SportsIAAF World Championships Morning RecapStarting off with action from the IAAF World Championships in Beijing:

In today's morning session:

In the women's hammer throw qualifiers:

Chinese athlete Wang Zheng threw the third-best distane at 73.06 meters. Close behind her was compatriot Zhang Wenxiu, who threw for a distanec of 72.92.

Leading the pack is Anita Vlodarchick (sp) of Poland, followed by Alexandra Tavernier of France.

In the men's 110-meter hurdles:

China's Xie Wenjun qualified for the semis, coming in third in the first heat and finishing 15th overall withat ime of 13.44 seconds.

With the fastest time in the heats was America's David Oliver, who clocked in at 13.15 seconds.

In the men's five-thousand-meter event:

Ethiopia's Yomif Kejelcha topped the standings in the heats with a time of 13 minutes, 19.38 seconds.

In the triple jummp:

Cuba's Pedro Pichardo topped the qualifiers with a distance of 17.43 meters.

He was followed by Christian Taylor of the U.S. in second, and Romania's Marian Opera in third.

Topping the heats in the women's 800-meter run:

It was Belarussian Marina Arzamasova with 1 minute, 58.69 seconds.

Followed close by Lynsey Sharp of Great Britain.

South African Caster Semenya came in third.

IAAF Live Update, Call-in with Luo BinEvening session action already in the books from the world championships:

In the women's Pole Vault...

In the men's Javelin Throw...

And in the women's 200-meter heatsFor a preview of what's to come later tonight, we go to our reporter, Luo Bin, who is on the ground at Beijing's Bird's Nest Stadium.

Football: UEFA Recap and PreviewIn football:

Taking a look at the action from the UEFA Champions League:

Malmo ousted Celtic, winning 2-0 in the second leg and advancing 4-3 on aggregate.

Shaktar Donetsk tied 2-2 with Rapid Vienna, but the draw sent the Ukraine side through 3-2 on aggregate.

Valencia lost 2-1 against Monaco, but they advanced with a score of 4-3 on aggregate.

Dinamo Zagreb convincingly beat Skenderbeu Korce 4-1, earning a 6-2 aggregate win.

And Basel drew 1-1 with Tel Aviv, but the Israeli club gets through on away goals after a 3-3 aggregate draw.

In UEFA action coming up tomorrow:

Manchester United takes their 3-1 advantage into the second leg of their match against Brugge.

And Serie A club Lazio is hoping to keep Bayer Leverkusen chasing when they take their 1-0 aggregate lead into the second leg of their meeting.

Tennis: Connecticut Open Recap, U.S.Open Seeds AnnouncedIn women's tennis action from the Connecticut Open:

Third-seeded Caroline Wozniacki breezed passed American Alison Riske 6-0, 6-2.

No. 4 Czech Lucie Safarova ousted Romania's Irina Begu 6-3, 6-4.

France's Caroline Garcia downed Slovakia's Magdalena Rybarikova in straight sests.

Slovakian Dominika Cibulkova fared better, beating Frenchwoman Kristina Mladenovich (sp) 6-2, 6-7, 7-5.

And Ukrainian Lesya Tsurenko downed Czech native Barbora Strycova 6-3, 6-0.

In off-court tennis news:

The U.S. Open seeds have been announced.

And, to nobody's surprise, Novak Djokovic and Serena Williams are the grand slam's top seeds in the men's and women's singles events, respectively.

In the women's standings,At no. 2 is Romania's Simona Halep. In third is Russian tennis star Maria Sharapova, followed by 2014 runner up, Caroline Wozniacki, in fourth.

Rounding off the women's top-five is Czech tennis player Petra Kvitova.

Nine Chinese women will enter the women's singles qualifiers, including Duan Ying-Ying and Lin Zhu.

In the men's standings:

In second it's Roger Federer, followed by Andy Murray in third, who was last year's runner up at Fushing Meadows. Behind him is Japan's Kei Nishikori in fourth.

Rafael Nadal sits in eighth, while defending champ, Marin Cilic, is in ninth.

Zhang Ze is the only Chinese male to make it into the singles qualifiers.

EntertainmentCantonese Opera Gala Held in Macao to Celebrate 70 Anniversary of the Victory of the War Against Japanese AggressionA Cantonese Opera gala based on China's war against Japanese invasion has been staged in Macao.

The event aims to commemorate the persevering spirit of the Chinese people and their patriotism during the war.

Titled "Unforgettable Era", the gala was featured with selections from notable Peking Operas such as "The Red Lantern" and "Shajiabang", which were dubbed with Cantonese lyrics.

The organizer behind the gala says the event will help young people remember the sacrifices of martyrs and to dedicate themselves to their homeland.

Big Bang Theory Stars Are highest-paid TV actors in The WorldThe stars of popular sitcom "The Big Bang Theory" top the new list of the highest-paid actors on television.

According to Forbes, Jim Parsons, who plays Sheldon Cooper in the sitcom, tops the list, earning over 29 million US dollars in a one year period ending in June.

Co-star Johnny Galecki, who plays Leonard Hofstadter, follows Jim with $27 million US dollars.

NCIS's action hero Mark Harmon finished in a four-way tie for third with earnings of 20 million US dollars.

Harmon is tied with two more "Big Bang Theory" stars - Simon Helberg and Kunal Nayyar - and former "Two and a Half Men" actor Ashton Kutcher.

Of the top 15 actors ranked on Forbes's list, ten come from the world of sitcoms.

The Big Bang Theory stars dominate the list after restructuring contracts before the 2014-2015 season.

CBS ultimately agreed to pay Parsons, Galecki and their co-star Kaley Cuoco a reported $1 million per episode, and their co-stars also received significant raises.

Warner Brothers Plans to Develop Chinese language MoviesIt's been reported that entertainment giant Warner Brothers is in talks to partner with China Media Capital to develop Chinese-language films.

The move aims to tap into China's booming box office and respond to local audiences' demand for homegrown movies.

The joint venture would be Warner Brother's second venture in China, after partnering with China Film Group to produce and distribute movies.

An increasing number of US studios are collaborating with Chinese companies in hopes that it will lead to film releases in China, which allows only 34 foreign films to be released domestically each year.

A-lister Zhang Ziyi Features in Music Video of Wang Feng's New SongChinese rocker Wang Feng has released a new song. It's called "Nowhere to Belong."Chinese actress Zhang Ziyi, the singer's girlfriend, is featured in the music video.

The music video is directed by Zhang Yibai, who directed and produced many popular movies such as "Spring Subway", "Go La La Go" and "Eternal Moment".

Wang Feng proposed to Zhang Ziyi in Feburary.

It's been reported that the 36-year-old actress is pregnant with the rocker's baby.

Celine Dion says husband wants to die in her armSinger Celine Dion has opened up about her husband.

The singer says her cancer-stricken husband doesn't know how much time he has left, but knows he wants to die in her arms.

Her husband, René Angélil, suffers from throat cancer and has been fed intravenously for two years.

The singer says René has already planned the details of his death and funeral.

The 47-year-old singer famously took a break from her Las Vegas residency at Caesars Palace in 2014 to care for her husband.

She will return to the stage on Thursday.

Dion adds it's unclear if her 73-year-old husband will be well enough to attend Thursday's show.

Julianne Moore Heads a Petition to change high school's nameOscar-winning actress Julianne Moore is heading a petition to change the name of the Virginia high school she attended.

Moore, along with Academy Award-winning producer Bruce Cohen, who both attended J.E.B. Stuart High School in the late 1970s, and are asking the Fairfax County School Board to rename the school for civil rights leader and Supreme Court Justice Thurgood Marshall.

The school in suburban Washington was named in 1959 after James Ewell Brown Stuart, a Confederate cavalry general in U.S. Civil War.

WeatherBeijing will be cloudy tonight with a low of 21, tomorrow will be cloudy with a high of 31.

Shanghai will cloudy tonight with a low of 23, tomorrow will have shower, high of 31.

Chongqing will be overcast tonight with a low of 22, rainy tomorrow with a high of 27.

Lhasa will have thunderstorm tonight with a low of 11, tomorrow will have shower with a high of 23.

Elsewhere in Asia,Islamabad will be sunny tomorrow with a high of 36.

Kabul, rainy, 27.

Down in the Southern Hemisphere.

Sydney, overcast, high of 29,Brisbane,rainy,23,Perth, cloudy, 23,And finally Auckland, New Zealand will have slight rain with a high of 14 degrees Celsius.

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

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

Some of China's latest military gear will be on display during the parade marking the 70th anniversary of the end of World War II...

The US National Security Adviser will visit Beijing this week to discuss a range of issues, including the Chinese president's US visit...

and several apartment buildings badly damaged during the Tianjin explosions have been declared structurally safe...

In Business...strong profit numbers for China Merchant's Bank...

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