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

Coming up on our program this morning...

Chinese President Xi Jinping has been sitting down for a series of meetings with world leaders as part of the lead-up to the 70th anniversary celebrations this week.

A leading Chinese planner is rebuffing suggestions the redevelopment strategy for China's northeast isn't working.

Thai police are looking for a new pair of suspects connected to this past month's deadly bombing in Bangkok.

In Business... a new set of directives have gone out to potentially investing in Chinese companies more attractive for investors.

In Sports... A rising Chinese star bounced early from the US Open tennis tournament.

In entertainment.... new laws are now in-place to stop little kids from being used for product endorsements here in China.

Top NewsXi Meet Foreign Leaders ahead of V DayAnchorChinese President Xi Jinping has sat down for talks with a number of foreign leaders who have been arriving for China's V-day parade.

CRI's Qi Zhi reports.

ReporterOne of the first leaders to arrive ahead of Thursday's events is Kazakh President Nursultan Nazarbayev.

Xi Jinping has taken time to express appreciation for the role the former Soviet Union played in helping China through the war.

"70 years ago, the Chinese people won the victory in the tough war against Japanese aggression, making great contributions to the world's anti-Fascism campaign. We will never forget the selfless support and assistance given by Kazakhstan and other former Soviet states. The war-tested friendship between us will be carried forward."It's Nazarbayev's first official state visit to China after being reelected as Kazakhstan's president.

The two leaders have also discussed regional issues, including climate change, food security and information security.

Both have also agreed to expedite the construction of a major crude oil and natural gas pipeline project between the two countries.

Consultations are also to begin on how to allocate water resources on trans-boundary Rivers.

Meanwhile, Xi Jinping has also sat down for talks with Laotian President Choummaly Sayasone.

"China and Laos were both victims in World War Two. Both peoples joined hands to fight aggression and work for national independence. China hopes to contribute even more to world peace and development together with Laos and other countries."President Xi Jinping has also met with Cambodian King Norodom Sihamoni.

"China and Cambodia are friendly neighbors and brothers. We cherish our traditional friendship that has withstood the test of time and changes in the international situation. We are ready to maintain high-level contacts with the country in various forms, and boost cooperation in key areas."Xi Jinping has also met with Serbian President Tomislav Nikolic, with the two vowing to work more closely through the Silk Road initiative.

Around 30 heads of state, including Russian President Vladimir Putin and South Korean President Park Park Geun-hye, will attend the military parade that is set to take place this Thursday morning in Beijing.

For CRI, I'm Qi Zhi.

Top Political Advisor Hails CPC-KMT Bond in Counter-Japan WarThe mainland's top political advisor, Yu Zhengsheng, has taken time to hail the cooperation between the Communist Party of China and the Kuomintang during the war, suggesting it was a key factor in the victory over Japanese forces.

Yu Zhengsheng has made the suggestion while meeting with former Kuomintang chair Lien Chan on Monday.

Lien Chan is in Beijing to attend China's V-Day parade on this coming Thursday.

Around 200 people from Taiwan are expected to attend the event.

Though both sides had been involved in a civil war, both the CPC and Kuomintang put their fight on hold to work together to battle the invading Japanese forces.

Part IV – International AssistanceAnchorWe now continue our series on the War of Resistance against Japanese Aggression ahead of the 70th anniversary this week.

In this, part four of our series, we look back at the mutual help the allies gave one-another as they battled Axis forces.

Here's CRI's Xiao Yi.

ReporterFor much of the time, China was fighting alone in the early stage of the war, similar to what Britain did at first. Appeasement lingered. And there had been a lack of genuine understanding of the true brutal nature of fascism as a global menace.

The world stood by when a number of countries fell to enemy hands one after another, including China, and when the joint global ambition of the trilateral Axis to carve up the world was first known.

Stood by ……until things changed when German, Italian and Japanese troops advanced to more warfronts – the Soviet Union and North Africa on the western theatre and Pearl Harbor and Southeast on the orient. The world now saw a real common threat and a shared responsibility to fight back, jointly.

The American Volunteer Group, popularly known as Flying Tigers, was the only defensive force in the sky of China between 1941 and 1942, to ensure material supplies of desperate needs in defiance of Japan's superior air power.

The Flying Tigers destroyed nearly 300 Japanese aircrafts, with the loss of 26 crew members and 73 aircrafts. As Daune Schultz, author of "the Maverick War", wrote, "For a time, the Flying Tigers provided the only victories against the Japanese anywhere in the Far East. The handful of men had shown that the Japanese were not invincible."91-year-old J. V. Vinyard is proud that he took part in the operation.

"(And) my assistance to the Chinese was one of my greatest moments of my life that I will never forget it."The US also provided massive aid in form of aircrafts, guns, medicines, and military instructors. After 1941, assistance from the US and its engagement in the Pacific War dramatically improved the situation in China.

Earlier between 1937 and 1941, when Japanese troops rampaged across half of the Chinese territory, the Soviet Union offered help and even fought shoulder to shoulder with China, to resist the invaders' blitzkrieg and shatter their dream of annihilating China within three months.

In May this year, President Xi Jinping awarded 18 representatives of Russian veterans with commemorative medals.

"I would like to extend my sincere regards and high respects to the Russian veterans who made great contribution to the victory of Chinese People's War of Resistance and the world's anti-Fascist war."Between 1937 and 1941, about 5,000 military experts were sent to China. Moscow also offered loans, as well as industrial and military assistance to rebuild the battered Chinese army. The Soviet Volunteer Air Force joined the war from the very beginning. They carried out air operations over Nanking and the central city of Wuhan. They even flew across Japanese-occupied areas and launched bomb attacks on the Japanese airbase in Taiwan. The Squadron destroyed and damaged almost 1,200 Japanese jets with the loss of 236 crewmembers.

It was a hard time for Shudlo Taras Georgievich and fellow pilots. The 88-year-old veteran also recalls the help provided by Chinese people at that time.

"Local Chinese helped us a lot. It's fair to say that they were supporting us with marvelous devotion, although they were actually very poor at the time."Some international organizations and individuals also came in support of China's tough struggle.

One of them is Canadian Physician Dr. Norman Bethune, who came in 1938 and joined the Eighth Route Army. He went to frontlines for emergency operations and assisted in training Chinese doctors and nurses.

Dr. Bethune died of infection after an operation in late 1939. For decades, he has been a role model in China, for his value, dedication and integrity. His stories are included in school textbooks and there are hospitals named after him. The Bethune Museum in Canada is a must-go item for Chinese tourists.

Norman Bethune is one of the many foreign nationals who offered a helping hand for war-ravaged China. There were also doctors, educators, industrialists and journalists from around the world, including overseas Chinese, such as Singaporean businessman Tan KahKee. He organized campaigns to raise awareness of Japanese atrocities and donations to extend financial and material support. Many died when carrying out their missions in occupied areas or on transport routes, or at project sites, such as the China-Burma Highway – the only international supply line at the time.

3200 overseas Chinese from Southeast Asia came as drivers and mechanics. These people, referred as Nanyang Volunteers, worked in harsh conditions. More than 1000 of them died in Japanese air raids, or of diseases, or later executed by the Japanese after the fall of Burma, or Myanmar as the country is called today.

A monument has been set up along the road to commemorate the Nanyang transport volunteers who died along the road. Lin Xiaochang organized its construction.

"I said to myself I must set up a monument beside the Burma Road. It's a monument for more than 1,000 people who sacrificed themselves."Precious support indeed, for people knew they were helping the Chinese who were helping THEM, by pinning down over two-thirds of Japanese troops on Chinese soil.

Back AnchorCRI's Xiao Yi with Part Four of our series on the war.

Tomorrow, in our final report, we'll tell you what's being done to try to ensure the War is never forgotten.

Chinese top legislator calls for upholding equality, promotion of rule of law at world parliamentarian conferenceAnchorChina's top legislator is calling for the international community to uphold equality and promote the rule of law.

The comments have been made at a World Conference of Speakers of Parliament currently being held at the UN Headquarters in New York.

CRI's UN correspondent Su Yi has more.

ReporterZhang Dejiang, chair of the Standing Committee of China's National People's Congress, has put an emphasis on international equality and justice while addressing the three-day conference being held in the UN General Assembly hall.

"Countries, irrespective of their size, strength and wealth, are all equal members of the international community. They should abide by the international law and universally recognized basic norms governing international relations, respect each other's sovereignty and territorial integrity, refrain from interfering in each other's internal affairs, and seek peaceful settlement of differences and disputes through dialogue and consultation."Zhand Dejiang is also calling for countries around the world to respect diversity when it comes to the social systems and development paths of individual countries.

"After a long period of exploration, Chinese people have found a development path that is suitable to their country's conditions and a set of institutional system with unique features has been set up. The development path and institutional system are fully capable of ensuring people to enjoy broader and more solid rights and freedom. They can effectively fine tune the political structure and rally resources on the most important issues. They can also effectively uphold national sovereignty as well as protect the security and development interests."At the same time, Zhang Dejiang has also announced a Chinese donation of 1.5 million U.S. dollars in cash to the conference's organizer, the Inter-Parliamentary Union, to further support its work.

The Geneva-based organization says it going to use the money to help lawmakers from developing countries better cope with the challenges they are facing.

UN Secretary General Ban Ki-moon has also addressed the conference, rallying support from parliamentarians around the world to push forward the UN's sustainable development goals.

"People will look to you to hold your government accountable for achieving the goals and to write the laws and invest in the programs that will make them a reality."The international community is set to officially adopt the 17-point agenda at a key UN development summit to be held in New York later this September.

It's viewed as an upgrade and expansion of the Millennium Development Goals that will expire by the end of this year.

The World Conference of Speakers of Parliament is organized by the IPU every five years and supported by the UN.

For CRI, I'm Su Yi in New York.

China's northeast may see better economic performance in H2: NDRCAnchorChina's top economic regulator is moving to try to quell concerns the plan to revitalize the stuttering economy of the country's northeast has failed.

CRI's Luo Wen has more.

ReporterOnce China's industrial base, the northeast has been hit hard by a continued economic slowdown.

Many cities in the region are facing challenges as the commodities there disappear and heavy industries, once the life-blood of China's northeast, are forced to undergo restructuring to modernize.

Li Pumin, secretary-general of the National Development and Reform Commission, says of all 31 provinces, municipalities and autonomous regions, the three northeast provinces are among the four with the weakest economic expansion through the first half of the year.

"The three provinces in northeast China, namely Liaoning, Jilin, and Heilongjiang, have suffered a significant downturn in the first half of this year. Liaoning has only grown by 2.6-perent, while Jilin is up 6.1-percent and Heilongjiang's growth has come in at 5.1 percent. The growth rates are below the national average of 7 percent."The weak numbers have raise concerns the government's strategy adopted in 2003 to prop up the region's economy, dubbed the Northeast China Revitalization Plan, hasn't been effective.

However, NDRC Chief Li Pumin says that concern is unfounded"I don't agree with the contention the Northeast China Revitalization Plan has failed. Since the plan was adopted in 2003, a series of policies have been put in place to boost economic growth in the region. And we do see progress being made in the area's manufacturing, small businesses, agriculture, social security and the renovation of shanty towns."As part of the longer-term plan, the State Council announced 139 major projects for the northeast region a year ago.

As of July, 80 have been completed or are under construction.

All told, the government has spent close to 90-billion U.S. dollars on the projects.

Li Pumin says as the rest of the projects get completed, the region's economy will continue to pick-up through the 2nd half of this year.

"Output of large industrial sectors, fixed-asset investment and growth in fiscal revenues in this region during the first half of this year saw recovery or narrowing declines. With the steady growth of agriculture, secondary industries, employment and the incomes of both urban and rural residents, and the improving ideological and working conditions of the local officials, it is fair to say that the three provinces will possibly see better economic growth, in the second half of this year."The NDRC is working on policies designed to "comprehensively revive" the countries old industrial bases, including the northeast, which has been dubbed China's 'rust belt' because of the aging heavy industry infrastructure in the region.

The new policies are going to have an emphasis on environmental protection, while at the same time, revitalizing some of the existing infrastructure to make it viable in modern society.

For CRI, I'm Luo Wen.

China Adopts New Rules to Target Rampant Telecom FraudAnchorAs of today, new rules kick in here in China, making it mandatory to register any new mobile phone number you purchase.

Authorities say the main goal of the new plan is to clamp down on telecom scams in China.

CRI's Xiao Yi has more.

ReporterThis is the second time in five years the central government has vowed to tighten control on mobile phone registrations.

Telecom fraud, one of the most resented public security hazards in China, has experienced an annual increase of around 70% over the past years.

A young office worker named Wei Hua says she's heard of or even experienced many fraud attempts.

"Scammers usually claim to be from phone or cable TV companies, saying that you have unpaid dues. Some of them even claimed to be the police and demand that you provide your bank password."Scams have been coupled with widespread trading of personal information.

Figures from China's Ministry of Public Security show that over 10 billion yuan, or some 1.6 billion US dollars, was siphoned into the pockets of scammers -- operating both in China and overseas last year.

Worse still, some victims have died of shock after failing to cope with the impact of fraud.

While many factors may have contributed to the prevalence of scams, one stands out – mobile phone SIM cards have been marketed without real-name registrations.

Zhao Zhiguo, Director of Bureau of Telecommunication Enablement at China's Ministry of Industry and Information Technology, says improvements must be made.

"One key measure is to perfect the technology to verify mobile phone customers' identities. We will also need to better regulate retail outlets. Third, we will need to shut down accounts without proper registrations."Feeling the pressure, mobile network operators say they will comply with the new regulations to ensure their proper implementation.

Yi Huatong, a marketing manager with China Mobile, one of the three major national networks criticized for poor management of SIM card marketing, says his company will also implement a new measure.

"Beginning September 1st, we will require all retail outlets to be equipped with proper chip readers to verify customers' identities. Otherwise we will terminate their SIM card sales."More than one billion active mobile numbers are used in China. Among them, an untold number has not been registered with the users' real names.

Meanwhile, scammers are not restricting themselves to phone calls. Other platforms like the Internet have also provided them with opportunities, and a national law on fighting this crime is still not forthcoming.

Zhao Zhiguo, the official with the Ministry of Industry and Information Technology, admitted that protecting citizens' interests and security in our time remains a daunting challenge for China.

For CRI, I'm XYee.

Thai police seek two new suspects in Bangkok bombingPolice in Thailand have issued arrest warrants for two new suspects in the widening investigation into a deadly bombing in Bangkok 2-weeks ago.

They have released a photograph of the woman's Thai identification card - showing a young woman in a black headscarf - and a sketch of the man whose nationality is unknown.

This follows a weekend raid on a suburban apartment block in Bangkok which is said to have uncovered possible bomb-making materials as well as dozens of fake passports from Turkey.

This follows the arrest of a foreign national by Thai police over the weekend.

Meanwhile, National police Chief Somyot Poompanmoung says he was taking the unusual step of giving police officers involved in the case some 3-million Thai Baht as a reward for their work.

"It's clear that this arrest is due to the ability of the police alone. No matter what investigative measures or technologies they use, it is the ability of the Thai authorities that has led to the arrest. This one million baht is my money and another two million comes from my business friends who did not want to be named."Thai police have been criticized for an erratic investigation that had, until this weekend, uncovered few clues about who was behind a blast which rocked a Hindu shrine on August 17th, killing 20 and injuring more than 130 others.

Seven Chinese nationals are among the dead and over 20 others are still being treated in hospitals.

So far no group has claimed responsibility.

Impact of Migration Crisis on Free-movement in EUAnchorGerman Chancellor Angela Merkel is warning of the possible return of border checks across Europe unless EU countries share the burden of refugees making their way into Europe.

Our correspondent Sandra Gathmann has more from Brussels.

ReporterOnce inside the European Union, travel is easy…passport checks are airports are rare, and the roads are open….thanks to the so-called Schengen Treaty signed back in 1985 which only requires identity controls on Europe's external borders.

But the perks of free-movement may be under threat. There's been increase in the number of terror attacks by suspects who've dipped in and out of intelligence service radars as they move across, in, and out of the EU. A recent foiled attack on a train from Paris to Amsterdam was carried out by Ayoube El Khazzani - a 25 year old Moroccan national with a Spanish passport who boarded a train in Brussels carrying several weapons. He'd also been to Turkey and Syria but flew there from Germany.

The EU is fighting calls to put up border controls and passport checks on train services. Natascha Bertraud is a spokeswoman for the European Commission.

"It's very clear that the Schengen area is not and has never been the problem., Security checks on trains is perfectly allowed just as they are on airplanes but of course the EU not being a police force or intelligence service, security primarily remains a national prerogative and responsibility.

And that - is part of the problem. Without a centralized EU intelligence unit, people like Ayoub El Khazzani, or the Koachi brothers who carried out the attacks on the Paris-based Charlie Hebdo magazine last January, slip through the cracks.

A lack of frontiers have come under scrutiny thanks to the EU's migration crisis too. Asylum rules state that refugees must apply in the first European country they arrive in. But thousands of migrants landing in countries like Greece and Italy are moving upward, to countries like Germany where they get better benefits. German Chancellor Angela Merkel says that if European countries don't sign up to share the burden of refugees - Schengen could be called into question. Pietro De Matteis is President of European Federalists Party. He says tighter border controls are not the answer.

"German interior minister mentioned we may need to suspend Schengen because of the current asylum seekers crisis. Clearly this is not a solution. Because asylum seekers, first of all have the right to come to Europe. And secondly by putting frontiers and controls across Europe its not going to stop them to come and seek a better future. "Along with the euro the achievement of a borderless EU has been one of Europe's proud achievements… both the migration crisis and threats of home grown terrorism are reviving calls for more integrated asylum policies, and more intelligence sharing…. If Schengen were to fail, it would undermine efforts to deepen the European Union on every level.

For CRI I'm Sandra Gathmann in BrusselsWeatherBeijing will see showers with a high of 25 degrees Celsius.

Overnight temperatures should drop down to 18.

Shanghai will be cloudy with a high of 31 and a low of 24.

In Chongqing, it will be cloudy during the daytime with a high of 34 and lows of 25.

Elsewhere in the world, staying here in Asia,Islamabad will be cloudy with a high of 36.

Kabul will be cloudy with a high of 26.

Over to North America,New York will be cloudy with a high of 31 degrees.

Washington, cloudy with a high of 33 degrees.

Honolulu, slight rain, 28.

Toronto will see slight rain with a high of 30 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 15.

And Rio de Janeiro will have slight rain with a high of 30 degrees Celsius.

Headline newsXi Receives Foreign Leaders Attending V-Day ParadeChinese President Xi Jinping has sat down for talks with a number of foreign leaders who have been arriving for China's V-day parade.

As part of a meeting with Kazakh President Nursultan Nazarbayev, Xi Jinping has expressed appreciation for the role the former Soviet Union played in helping China through the war.

Xi Jinping also met with Laotian President Choummaly Sayasone, Cambodian King Norodom Sihamoni and Serbian President Tomislav Nikolic.

Around 30 heads of state, including Russian President Vladimir Putin and South Korean President Park Park Geun-hye, will attend the military parade that is set to take place this Thursday morning in Beijing.

Authorities issue anti-corruption rules for WWII anniversary amnestyChinese authorities are promising they will bring in their massive amnesty plan through lawful means.

The Legal Affairs Department of the Communist Party of China says no person eligible for the new amnesty would be left out.

At the same time, its also warning of corruption through granting pardons that aren't legitimate.

The amnesty, part of the 70th anniversary celebrations, is going to cover thousands of war veterans as well as very old, young or infirm prisoners.

UN Climate Negotiations resume in BonnOfficials from nearly 200 countries are now gathered in Germany to resume the UN climate negotiations.

Negotiators from around the world are looking to pare down the negotiating points heading into the main UN Climate Change talks set for Paris in December.

At issue are a number of disagreements between the developing and developed world about who will have to bare the brunt of emission reductions.

Questions about who will help finance this are also one of the main problem-areas.

US deploys F-22s in Poland for trainingFour US F-22 fighter jets have arrived in Poland for the jet's first-ever training deployment to Europe.

The stealth tactical fighter aircraft will train with allied air forces and U.S. services through mid-September.

The Pentagon is describing the deployment of the F-22 as a broader effort to support eastern European members of NATO unnerved by Russia's actions in Ukraine.

The US Air Force has previously deployed the radar-evading jets in Japan and South Korea, but not in Europe.

Short sleepers more like to catch coldNew research appears to prove a commonly-held suggestion that a lack of sleep is going to make you more vulnerable to catching a cold.

US-based research appearing in the medical journal "Sleep" shows that people who sleep for less than 6-hours at a time are as much as 4-times as likely to come down with a cold.

The same analysis suggests the fewer hours of continual sleep one gets, the more vulnerable they are to the cold virus.

The study looked at people across various demographics, including age, race and stress levels.

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

ReporterU.S. markets dropped on Monday, as new economic data has fueled speculation the Federal Reserve will begin raising interest rates sometime this September.

Federal Vice Chairman Stanley Fischer has gone on-record saying U.S. inflation is likely to rebound, which will allow for a gradual increase in rates.

The Chicago Business Barometer held on to most of July's gain, falling to 54.4 in August from 54.7 in July.

At the same time, oil prices also increased for the third straight session on Monday, with Brent crude jumping nearly 9 percent, which bolstered the energy sector.

Lifted by the spiking oil prices, the energy sector rose around 1 percent, the only advancer among the S&P 500's ten sectors.

At the close,The Dow Jones sank nearly 0.7 percent.

The S&P 500 declined 0.8 percentThe Nasdaq decreased 1.1 percent.

Meanwhile in Europe, the stock markets there were mixed on Monday as investors continue to ponder China's slowing economy and potential US interest rate moves.

At the closing bell,The UK's FTSE 100 added 0.9 percent.

Germany's DAX dropped up to 0.4 percent.

France's CAC 40 fell almost 0.5 percent.

Finally in China,Shares closed lower on Monday with the benchmark Shanghai Composite Index down 0.8 percent.

The smaller Shenzhen Component Index lost 2.3 percent.

China encourages mergers, cash bonuses, share repurchases by listed companiesA new notice has gone out to listed companies in China, with authorities calling on them to take steps to make their shares more appealing for investors.

Among the demands are more dividends, as well as share buy-backs and moves toward more mergers and acquisitions.

The memo to the listed companies in China has been jointly put out by the CSRC, the Ministry of Finance, the State-owned Assets Supervision and Administration Commission and the China Banking Regulatory Commission.

The memo says the move is part of the broader plans to push forward reforms of state-owned enterprises and promote the "healthy development" of the capital market.

Here in China, most listed companies, particularly state-run firms, are reluctant to share profits with their investors, choosing instead to roll-over the profits for their own corporate interests.

Goldman Sachs cuts China's 2016 forecastGoldman Sachs has cut growth forecast for China next down to 6.4 percent from 6.7 percent.

Goldman is still maintaining its 6.8 growth percent prediction for this year.

China's GDP expanded 7 percent from a year earlier in the first half, which is in-line with the official full-year target of around 7 percent.

However, data in June and July is suggesting any recovery in China this year has been very short-lived.

There are also fears that China's manufacturing sector may deliver its worst performance in more than six years later on today when the official Manufacturing PMI is released.

The Caixin Flash Manufacturing PMI fell to a 77-month low of 47.1 in August from the final reading of 47.8 in July.

It was this flash manufacturing data which help send the global markets into a tail-spin last week.

China lowers down payment requirements for second homesChinese authorities have lowered the down payment ratio for second home purchases as of today.

The minimum down payments for second home purchases is being lowered from 30 to 20 percent.

Only people who have fully paid-off the mortgages on their first homes will be able to qualify for the lower down payment.

In addition, authorities in Beijing, Shanghai, Guangzhou and Shenzhen are now allowed to make their own decisions about the minimum down payment ratio on 2nd homes.

Five Chinese State-owned Commercial Banks See Slower Growth in H1AnchorThe first-half results of all 5 of China's main state-run banking giants have now all been calculated.

Among them, only Bank of Communications and the Bank of China have profit increases toward two-percent.

Communications' first-half profits are up 1.5-percent.

Bank of China's profits gained 1.7-percent.

However, the other three main players didn't fare nearly as well.

ICBC and China Construction Bank's profits failed to crack 1-percent growth, while Agricultural Bank had the worst first-half, with profits only growing 0.5-percent.

Mounting bad loans are being pointed to as one of the major concerns, with the non-performing loan ratio for all of China's commercial banking sector hitting 1.5 percent.

For more on what's happening with China's state-run banking giants, we're joined on the line by Gao Shang, analyst with Guantong Futures.

Questions:

1) What is going on with these state-owned commercial banks in the first half of the year? What is behind their smaller profit gains?

2) Among all these factors, is the mounting bad loans the major reason for the commercial banks' profit slowdown?

3) As the Internet banking service is gaining more popularities in China and traditional commercial banks are experiencing transformation, what kind of actions could these state-owned commercial banks take to better survive amid fierce competition with online banking platforms?

4) It is being said that Chinese economy is likely to pick up in the second half of this year. So, are we expecting better profit gains for these commercial banks in China?

Back anchor:

Gao Shang, analyst with Guantong Futures.

China's HNA Group acquires landmark building in LondonChinese firm HNA Investment Holding, a wholly-owned subsidiary of HNA Group, has purchased a new landmark building in London.

The building itself is located at Canary Wharf, one of London's major financial districts.

It's the European headquarters for news agency Thomson Reuters.

A purchase price has not been revealed.

HNA Group is a Chinese conglomerate which has investments in areas such as aviation, tourism and logistics.

China Southern Airlines to launch its first freighter service to VietnamChina Southern Airlines is poised to launch freight service to Vietnam later this September.

The Chinese carrier plans to run four flights a week, linking Guangzhou with both Ho Chi Minh City and Hanoi.

Most of the freight is expected to be textiles and food.

SportsZheng Saisai Knocked out of US OpenIn tennis action from the US Open,Rising Chinese star Zheng Saisai has been bounced early from the tournament, going down to American Madison Brengle in a three set affair.

The only other Chinese representation in the Women's singles event, Wang Qiang, will start her tournament later today.

In other action, 7th seed Ana Ivanovic has been sent home early, going down to Dominika Cibulkova 6-3, 3-6, 6-3.

"Yeah, definitely. I really felt like I had been improving. Last week I saw a huge improvement in my game, you know, overall; my serve was really good today, I felt. You know, that's why it's so disappointing, because it was very tough first match I think for both of us. First match of the tournament, as well. So it's not easy, but today I felt like she used her opportunities better than I did."The 27-year-old Serbian was the first of a number of seeds to fall on the opening day of the US Open.

-----------Others, including Karolina Pliskova from the Czech Republic and Carla Suarez Navarro from Spain also exited with opening-match losses, leaving 12th seed Belinda Bencic as the top-rated foe in Serena Williams' half of the draw.

Three-time defending champion Williams, who lost to Bencic in the Semi-finals of an event in Toronto last week, could face the Swiss teen again in the quarter-finals at Flushing Meadows.

Williams is now seeking her first ever sweep of the Grand Slams in a calendar year, as well as her 22nd career Grand Slam title.

---------On the men's side,Last year's finalist Kei Nishikori of Japan has suffered a shock first round defeat.

The 4th seed lost went down in five sets France's Benoit Paire.

"Yeah, it's very sad to lose always first round, but I think he was playing good tennis. So, I mean, I don't think I played bad. Didn't play great, but still, it's never easy first match. He's a good player. You know, try to think about next one, and I hope I can come back strong next year."In other action,Novak Djokovic, Spainiard David Ferrer, Filip Krajinovic of Serbia and Canadian Vasek Pospisil have made it through.

China Downs Kenya at Women's Volleyball World CupIn volleyball,China's women's squad has clinched its fourth straight win at this year's World Cup in Japan, cruising past Kenya 3-0 last night.

Chinese team head coach Lang Ping says the straight-set victory wasn't as easy as it sounds.

"I think the Kenyans did very well in the third set. They created a lot of challenges for us in the first pass and blocking. But I think it's good for us. We can learn a lot from that. As a whole, we also did a good job in moving the ball."The victory leaves China with a 6-1 record at the tournament.

Next up for China is Argentina.

The Argentina's women's squad went down to reigning world champions USA 3-nil last night.

The Americans have taken over the top of the standings with their 6th win in 7 matches.

Team USA is the only team to beat China so far at the tournament.

In other action,It was Serbia coming from behind to beat Russia 3-2, snapping Russia's 6-match winning streak and pushing them out of top spot.

Hosts Japan dumped South Korea 3-nil.

Twelve teams are playing a round robin format in this World Cup, with the top 2 finishers automatically qualifying for the Rio Olympic Games next year.

China Beat India 102-39 in Asian Women's ChampionshipIn basketball action from Asian Women's Championship in Wuhan,China has earned its 3rd win in a row at the tournament, cruising past India 102-39 last night.

China's Shao Ting scored 10 on the road to the easy win.

"We were much better than them today. But we still took it seriously. We have showed what we've got. They also played it hard, so we respect them a lot."The winner of the 12-team tournament in Wuhan will automatically qualify for next year's Olympics.

China will next take on defending champions Japan tonight.

In other action,South Korea has earned its first win at this year's championships, beating Thailand 97-41.

Kazakhstan beat North Korea 68-55.

Malaysia got past Hong Kong 78-61.

And it was the Philippines hammering Sri Lanka 65-45.

Iran train ahead of World Cup qualifier with GuamIn football,Iran's national team has begun training in Tehran this week ahead of their World Cup qualifier against Guam on Thursday.

Iranian team member Ramin Rezaian says Guam shouldn't be taken lightly.

"Guam have six points and is among the good teams in this group. We must take them seriously. If we don't, what happened in the match against Turkmenistan will repeat. We must begin the match seriously and play a game proper for Iran's dignity."Iran drew with Turkmenistan 1-1 in the last round of matches.

Guam have started their World Cup qualifying with two wins in two games, including a 1-0 victory over Turkmenistan followed by a 2-1 victory at home to India.

----------In the United States,Bradley Wright-Phillips has scored two goals and an assist to lead the New York Red Bulls to a 3-0 home victory over D.C. United in MLS action.

With the victory, the Red Bulls moved two points behind Eastern Conference-leading D.C. United and into second place in the Eastern Conference.

New York's Luis Robles earned his eighth shutout of the season.

-----------In off-pitch football news,Borussia Dortmund has announced the signing of midfielder Adnan Januzaj, who is on loan from Manchester United.

The deal will keep him in Dortmund until next summer.

The 20-year-old midfielder made 60 appearances and five goals for United.

Bundesliga front-runners Dortmund face Hannover at the fourth round of the Bundesliga on September 12th.

EntertainmentChild stars under the age of 10 to be banned from making product endorsementsAccording to the newly revised Advertisement Law of China, child stars under the age of 10 have been banned from making product endorsements in advertisements.

Along with the wide popularity of reality TV programs like "Daddy, Where Are We Going?" and "Dad came back", several celebrity kids have shot to fame overnight.

In some cases, the endorsement fees charged by these Child stars are as high as those charged by b-list actors in China.

The new Advertisement Law takes into effect from September 1.

This is the first time that China's advertisement law has been revised in the past 20 years.

Kanye West is Running For President In 2020!

Kanye West says he's planning to run for president in the US in 2020 during the MTV Video Music Awards on Sunday.

In an acceptance speech at Sunday night's MTV Video Music Awards, the rapper concluded his remarks by announcing a presidential bid for the election five years from now.

"And yes, as you probably could have guessed by this moment, I have decided in 2020 to run for president"The news inspired a wide spectrum of Twitter reactions, but perhaps none more surprising than from the Democratic Party itself.

The official account of the Democratic National Committee tweeted Monday morning that the group approved of a possible West run.

Star Wars' John Williams voted the most popular living composer of film soundtracksJohn Williams of star wars fame has been voted the most popular living composer of film soundtracks.

The announcement was made by the Ultimate Classic film Hall of Fame, which combined public polls on movie music tastes done across the world over the past 20 years.

His compositions for Star Wars, Jurassic Park, Saving Private Ryan, Schindler's List and the Harry Potter films all feature in the chart.

Sir Karl Jenkins follows Williams and is the most popular living British composer with four pieces which include Adiemus, Palladio.

Rachmaninov's Piano Concerto No.2 is the UK's favorite piece of classical music.

The poll also reveals Mozart as the most popular composer with 20 entries.

Beethoven came second with 17 compositions, followed by Tchaikovsky and Elgar, who were voted the most popular British composer with 12 pieces.

First Trailer for Sci-Fi Adaptation 'The 5th Wave' releasedSony has finally debuts an actual trailer for the mush awaited sci-fi fan film The 5th Wave.

The 5th Wave is the first movie adapted from cult classic "The 5th Wave" series of science fiction books.

The film stars Chlo? Grace Moretz as a girl in the middle of an alien invasion trying to find her missing brother.

The cast includes Liev Schreiber, Maika Monroe, Nick Robinson and Maggie Siff among othersIn the new film four waves of increasingly deadly extra-terrestrial attacks has decimated most of planet Earth.

The 5th Wave is directed by English filmmaker J Blakeson.

Sony Pictures is expected to release the film in select theaters on January 15th early next year.

Nicholas Hoult to star in 'Rebel In The Rye'

Nicholas Hoult has been roped into play JD Salinger, an American author who shot to global fame when his 1951 novel "The Catcher In The Rye" was first published.

The book became a rallying cry for disillusioned youth.

The film is based on a screenplay adapted from the Kenneth Slawenski biography JD Salinger: A Life.

Danny Strong will direct the film.

Rebel In The Rye offers a glimpse of Salinger's life from his rebellious youth to service in the Navy during WWII, the period where is suffered from Post-traumatic stress disorder and his spiritual awakening.

It also touched on the reasons for his eventual self-imposed isolation after worldwide fame.

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

Recapping our top stories this morning...

Chinese President Xi Jinping has been sitting down for a series of meetings with world leaders as part of the lead-up to the 70th anniversary celebrations this week.

A leading Chinese planner is rebuffing suggestions the redevelopment strategy for China's northeast isn't working.

Thai police are looking for a new pair of suspects connected to this past month's deadly bombing in Bangkok.

In Business... a new set of directives have gone out to potentially investing in Chinese companies more attractive for investors.

In Sports... A rising Chinese star bounced early from the US Open tennis tournament.

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.