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

Coming up on the program this evening...

Tibet preparing to Mark Autonomous Region Anniversary....

China Urging Railway Project to Start in Thailand...

And migrants beginning to enter Austria after being transported to the country's border with Hungary by bus....

In the 2nd half of the hour, we'll bring you some of the business stories that have made headlines over the past week.

In Sports... China Moving up to 1st Place at FIVB World Cup with 3-1 Win over Russia....

And in Entertainment...Mainland Box Office Surpassing 29.7 Bln YuanTop NewsTibet to Mark Autonomous Region AnniversaryTibet Autonomous Region in southwest China has been given a major makeover to celebrate the 50th anniversary of the establishment of the region.

More than 3 million Tibet residents of all nationalities are welcoming the anniversary in their own ways. Four columns of the Potala Palace Square have been repainted and the main streets in the downtown capital of Lhasa have been decorated with the celebration's emblem and colorful flags.

Tibet will hold a celebration meeting, mass pageant, exhibition presenting the region's achievement over the past 50 years, a show and a highway opening ceremony to celebrate the anniversary.

A central government delegation will participate in the activities.

More than 6,000 residents will form 25 formations to attend the mass pageant.

China's V-day parade shows both strength and peace: US expertAnchorMore observers from around the world are weighing in on China's military parade and President Xi Jinping's speech to mark the 70th anniversary of the Chinese Victory in the War Against Japanese Aggression.

A Chinese-studies professor from the US is suggesting the event shows the country's strength, and at the same time, conveys the message of peace.

CRI's Su Yi reports from New York.

ReporterJeffrey Kinkley is a history professor at St. John's University.

"The military parade itself of course conveyed an image of China's strength and modernization. President Xi Jinping's announcement he will be cutting the size of Chinese military by 300-thousand troops. This sends a message of peace I believe."In his speech, Xi Jinping announced a reduction in the size of the Chinese military over the next 2 years.

It is the fourth time for China to announce military cuts since the Reform and Opening Up process first began in the early 1980s.

On Thursday, 50 formations including a total of 12-thousand troops took part in the Victory Day parade.

As many as 500 pieces of armaments and 200 fighter jets were reviewed during the parade.

It was also the first time for China to hold military parade to commemorate the occasion.

History professor Kinkley says the Chinese government is trying to draw more attention through these commemorative activities to its alliances with other anti-Fascist forces during the Second World war.

"In recent international relations, the Chinese government has been stressing the fact that the US and China were allies during World War 2. We were both dedicated to defeating imperial Japan and its terrible policies of those days."Kinkley says when it comes to China's international image, the majority of members of the international community see China as a rising economic power.

"China's international image remains in the middle that everybody recognizes China is the world's second greatest economy. Therefore we will have ups and downs. I can only speak for Americans - most Americans see China as something like a economic rival but also very much an economic partner."For CRI, I'm Su Yi in New York.

UK Expert on China's V-Day Parade: would like to see more local commemorationsAnchor:

China's V-Day Parade has been a hot topic this week in many western countries.

CRI's London Correspondent Duan Xuelian spoke with Professor Hans Van de Ven at Cambridge University.

Reporter:

For Hans Van de Ven, Professor of Modern Chinese History at Cambridge, China's Second World War commemoration on Thursday was a way to strengthen national identity among the general public.

"The War is presented as an effort by all of China to resist aggression and that sort of eradicates the differences between the Communists and the Nationalists and so I think attempt to be inclusive was really there and many people will see this as positive."He says China played an important role during the Second World War but its story has not been properly told. And by inviting foreign contingents to participate in its military parade, China sees itself as part of a broader alliance.

"Had China sided with Japan, which was not entirely impossible, then Japan would have been able to utilize China's resources and China's man power for not only the occupations of South East Asia but also to fight the Russians, and the whole World War II would have been rather different."However, Professor Hans did point out that European audiences often associate such military parades with assertions of power and that's may be part of the reason why China's V-Day Parade is misinterpreted in some cases. He explains that in Europe, war commemorations are usually on the solemn side. Also, while national scale commemorations are important, he would be glad to see more local remembrances that engage people who have survived the Second World War.

"By this I mean there are national commemorations in the UK and across the European countries as well as the United States, but we also have some local commemorations in universities, in schools, villages and in our neighborhoods, and people are telling their own stories. I think it would something really really good if that could happen in China as well."Professor Hans Van de Ven was guest professor at the Department of History of Nanjing University and co-editor of Negotiating China's Destiny in World War II published by Stanford University Press, 2014.

For CRI, I'm Duan Xuelian in London.

The Trumpeter on the Book Cover-Bond between Two FamiliesAnchor:

The later generations of Edgar Snow, author of the book Red Star Over China, have met the son of Xie Liquan, the trumpet playing figure on the cover of the book.

CRI's Victor Ning reports.

Reporter:

Red Star Over China, a 1937 book by American journalist Edgar Snow, is an account of the Communist Party of China written while it was still obscure to Westerners.

The book is considered as one of the most influential books on western understanding of the Chinese revolution in the 1930s.

Blake Anthony, who came to Beijing with his grandmother Sheril Bischoff, the niece of Edgar Snow's wife, says the book has had a great influence on him.

"It is because of this book that I eventually began to study Chinese, and it's why my grandmother is able to come and make new friends with the relatives of the people who fought in World War II and Chinese revolution as well."Blake also says the message the book conveys to the world is still valid now.

(bjh/soundbites/0904 Anthony 2, male in English)"I think it is still valid now because it gives route to modern China. The Chinese Communist Party gained strength and finally was able to fight back Japanese invasion, which eventually led to CPC leading China and also China's success today. For political scientists and people who study history, when studying modern China, one of the required readings is Red Star Over China."After the book was published, the cover picture in which a Chinese soldier posed with a trumpet became very popular.

For decades people had no idea who the figure on the cover was.

Xie Xiaopeng, son of Xie Liquan, the figure on the cover of the book, explains the reasons.

"For a long time, my father didn't talk much of the episode. He saw the picture in 1972 and wrote his experience in a letter. He gave the letter to us before he died of cancer in 1973. He did not consider himself a war hero. Instead, he said his life was saved by many people."Xie Xiaopeng expressed his appreciation to Edgar Snow for his professional ethics.

"We bear great appreciation to Snow. I've liked collecting his books since I was young. I admire his sense of righteousness and his courage of reporting facts. He dares to seek the truth. Besides, I like his writing style and his choice of words. They are vivid and expressive. "At the ceremony initiated by the Chinese People's Political Consultative Conference of Zhongshan in south China's Guangdong Province, the members of the two families exchanged gifts with each other.

The book Red Star Over China was written based on Snow's observations and findings after he visited then CPC revolutionary bases in northwest China where he interviewed top leaders including Mao Zedong, Zhou Enlai and Peng Dehuai.

It has been translated into over twenty different languages after it was first published in 1937.

For CRI, I'm Victor Ning.

Monument to be built on Tianjin blast siteA monument will be built on the site of the deadly Tianjin blast in memory of those who lost their lives in the accident last month.

Tianjin plans to build a 24-hectare park on the site of the blast and the monument will be at the center of the parkIn addition, there are also plans to build primary schools and kindergartens in the area, and over 5,000 apartments have been made available to those who lost their homes as a result of the explosion.

Two explosions ripped through a warehouse in Tianjin Port on Aug. 12. The warehouse was storing large amounts of toxic chemicals.

One hundred and sixty people died, with eight firefighters and five civilians still missing.

Hundreds more remain in hospital.

China Urges Railway Project to Start in ThailandChina and Thailand have vowed to lift China-Thai friendship to new heights and start construction for a regional railway as scheduled.

Chinese Premier Li Keqiang made the pledge during a meeting with Thai Deputy Prime Minister Prawit Wongsuwon on Friday in Beijing.

This year marks the 40th anniversary of the establishment of diplomatic ties between the two countries. Premier Li said China is willing to work with Thailand to lift their friendship and pragmatic cooperation in various fields to a new stage.

China is also willing to strive for more development in China's relations and mutually-beneficial cooperation with the Association of Southeast Asian Nations.

The premier reiterated that the China-Thailand railway project could benefit the Thai people, promote China-Thailand exchanges, and facilitate regional connectivity. He urged the two sides to start construction as scheduled.

On his part, Thai Deputy Prime Minister Prawit Wongsuwon said that his country is willing to further its relations with China based on their friendly cooperation over the past four decades.

Prawit also said Thailand will work with China to prepare for the railway project and push for an early start of the construction.

China Ratifies WTO's Trade Facilitation AgreementThe Ministry of Commerce says China has ratified the protocol of World Trade Organization Trade Facilitation Agreement or TFA, becoming the 16th member to formally accept it.

The TFA will enter into force once two-thirds of WTO members have completed their domestic ratification process.

China called on other members to increase speed in adopting the protocol in order to facilitate international trade and lower trade costs.

It is the first multilateral trade agreement that China has participated in since it joined the WTO.

Zhao Hong is a negotiator from the Department of WTO Affairs in the Chinese Ministry of Commerce.

"It is undoubtedly good news for China, the world's largest goods trading nation, and is of great significance for expanding exports and promoting economic growth."The TFA was concluded at the WTO's 2013 Bali Ministerial Conference.

It contains provisions for expediting the movement, release, and clearance of goods, including goods in transit.

The TFA also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.

China to Help Protect Wildlife in ZimbabweChina has helped Zimbabwe to establish a wildlife foundation to protect and preserve the wildlife and the balance of the country's ecosystem.

Named the Sino-Zimbabwe Wildlife Foundation, it aims to mobilize resources for wildlife protection, research and monitoring as well as the training of personnel.

Oppah Muchinguri, Zimbabwean Minister of Environment, Water and Climate spoke highly of the foundation.

"The launch of the foundation is symbolic of how new initiatives by Zimbabwe demonstrates its growing interest and commitment to improving the environment through conservation partnerships."Authorities say that the conservation efforts of both the environment and wildlife will ensure overall sustainability and preservation of the natural heritage for present and future generations.

Russia's Primorsky Krai is to open self-driving tours to Chinese touristsRussia's Far East region of Primorsky Krai is becoming a new favorite destination for Chinese tourists.

Statistics show in the first 8 months of 2015, the region has received nearly 90-thousand Chinese tourists, up 75% compared with the same period last year.

The region has become the second most favorable destination for Chinese tourists after Moscow.

Vladimir Miklushevsky, Governor of the Primorsky Krai region says they are in talks to make self-driving tours available to Chinese tourists.

"We welcome all foreign tourists to visit Primorsky Krai, especially Chinese guests. We share 1100 kilometers borderline with neighboring China. We are now in talks with the Chinese side to draft self-driving tours and we see this as a new profit point for tourism."It's been reported that Russia is to extend the free port regime to more cities in Russia's Far East region, while the city of Vladivostok and 15 other maritime administrative districts were given the status in July.

The eight day visa-free entry will certainly boost tourism in the future.

Vladimir Miklushevsky says his goal is to use all local resources to bring in more tourists.

Apart from developing the infrastructures in scenic spots, we also have to build hotels and upgrade their services and facilities, for these factors are limiting our development now."He also says they are developing cultural tours by setting up a theatre, galleries and museums so that foreign tourists can experience the authentic Russian ballet and other arts here.

China's real estate information system to start pilot operation by end of 2015China's online real estate information platform system will start pilot operation by the end of 2015.

According to the Ministry of Land and Resources, local governments are required to carry out real estate registration and collect relevant data to be uploaded to the national information platform system.

With this system, basic information of real estate, including those who hold the properties, can be checked and approved in real time, increasing the transparency of real estate management.

Leng Hongzhi, who is working with the real estate registration under the Ministry of Land and Resources says their next focus is the system construction on several junctions before it starts operation.

"We will try to guarantee that for each region or city, there will be at least two subordinate cities or counties whose real estate information has to be recorded in the system by the end of the year."An instruction came out recently that requires housing registration to be incorporated into real estate registration and be managed by some institutions taking charge of that.

The housing management authorities will continue managing the mortgage, trade or property rights transfer of houses. At the same time it should cooperate with the real estate management authority to complete necessary registrations.

Leng said the registration on real estate requires the transfer and integration of various data and materials as well as functional integration that involve different government departments.

The integration has been completed generally on state and provincial level, while it still needs to be carried out on a county level, which is the focus of the Chinese government this year.

Migrants Arrive in Austria, UN Calls for Systematic EU ResponseMigrants began to enter Austria on Saturday, after being transported to the country's border with Hungary by buses provided by the Hungarian government.

After days of confrontation and chaos, Hungary announced on Friday that it would provide around 100 buses to take thousands of migrants in the country to the Austrian border.

For days, Hungary has suspended trains traveling to Austria, in an attempt to register the migrants under EU rules. Thousands of migrants had camped out at the Keleti train station in Budapest for the past week, while more than 1000 others began walking on foot to reach Austria on Friday.

Also on Friday, Austria and Germany announced that they would allow migrant access.

Amid the intensifying migrant crisis in Europe, the UN High Commissioner for Refugees Antonio Guterres has called on European countries to step up their efforts to address the issue.

"We are facing exceptional circumstances we need an exceptional response. Business as usual or incremental improvements of mechanisms in place will not be able to address what it is today a massive refugee and migration crisis in Europe."Guterres said preliminary estimates show 200,000 relocation places would be needed through the end of 2016 in Europe.

Guterres said each European country needed to do what it could while ultimately a systemic European response was needed to solve the problem.

"The largest program of resettlement humanitarian admission comes exactly from the same country that also receives the largest number which is Germany. That has more then 30,000 opportunities of humanitarian admission. And I think that one of the key things that is clear today is that what Germany is doing cannot be done alone, that all countries need to be doing to same. Based on the capacity each country has. But we need to have a true European solidarity mechanism to allow for this problem to be solved."British Prime Minister David Cameron said on Friday that Britain would take in thousands of Syrian refugees in refugee camps.

President Obama hosts King Salman of Saudi ArabiaAnchor:

U.S. President Barack Obama hosted King Salman of Saudi Arabia for bilateral talks at the White House.

Yemen and the Iran nuclear deal topped the agenda as both men expressed concerns about the unrest across the Middle East.

Our Washington correspondent Priscilla Huff reports.

Reporter:

One sign of how important this meeting is between the leaders of the United States and Saudi Arabia.

U-S President Barack Obama personally met King Salman at the door to the West Wing of the White House, something he rarely does. A few minutes later President Obama formally welcomed the Saudi ruler before the TV cameras in the Oval office.

"So, Your Majesty, welcome, and let me once again reaffirm not only our personal friendship but the deep and abiding friendship between our two peoples."With Washington and Riyadh far apart on key issues, King Salman also wanted to sound a hospitable note.

The voice of a translator:

"Once again, Mr. President, I'm happy to come to a friendly country to meet a friend. And we want to work together for world peace. Our region must achieve stability, which is essential for the prosperity of its people. And in our country, thank God we are prosperous, but we want prosperity for the entire region, and we are willing to cooperate with you in order to achieve that."However, as Brookings institution scholar Bruce Reidel - a long time American diplomat writes in U-S News and World Report, the Oval office meeting could do little about Yemen, one of Saudi Arabia's deep problems because, quote they are impervious to an American solution.

Saudi Arabia is also worried about the Iran nuclear deal.

Key committees of the US Congress are setting their schedule to approve or disapprove the agreement, although enough Senators have voiced their support, the White House is confident the deal will get the thumbs up.

Writing for the Washington Institute for near east policy, Simon Henderon underscores Riyadh's concern that sanctions relief will be used to finance Iranian troublemaking in the region, and quote the kingdom regards the Obama administration's defense of the deal as naive and therefore views it with extreme skepticism.

But it's the images of the migrants fleeing the violence in Syria that's garnering the most attention especially from US President Barack Obama.

"We share concerns about the crisis in Syria, and we'll have the opportunity to discuss how we can arrive at a political transition process within Syria that can finally end the horrific conflict there.

With a US Saudi Arabia investment forum underway at one of Washington's fanciest hotels, King Salman kept to a positive tone.

"Our relationship is beneficial not only to our two countries, but to the entire world and to our region. And this is significant, and we must always affirm that and deepen such relations. We always emphasize that we want to deepen our relations and further our cooperation in all fields."At the close of the meeting, the two leaders discussed a new strategic partnership for the 21st century and how to significantly elevate the relationship between the two countries.

Or as the White House statement put it, it was a positive and fruitful discussion.

For CRI, I'm Priscilla Huff in Washington.

New Round of G20 Finance Ministers Meeting Begins in TurkeyA new round of G20 Finance Ministers and Central Bank Governors Meeting kicked off on Friday in Turkey.

During the two-day conference, finance ministers and central bankers will exchange views on current global economic development and challenges, evaluate investment strategies and discuss topics related to international finance.

A recent IMF report shows that downside risks prevail in the world economic outlook.

Ussal Sehbaz, director of the G20 Studies Center, said member states should take actions to bolster their economies and reduce risks.

He also expressed concerns about the Federal Reserve's interest rates hike and warned that the U.S. should be prudent when making such decisions.

"This shows us the problems within the economy governance system and also shows us why G20 matters. Because so far the global governance has been unilateral and Fed's decisions, despite the fact that Fed takes these decisions within its own parameters, impacts all the vote, including China and all the emerging markets.

Representatives will also make a thorough evaluation to the implementation of the G20 2015 Development Goal, and submit the final report to the G20 Summit, which will be held in November.

Libya Closer to a Unity Government: UN EnvoyThe UN envoy to Libya said on Friday while difficulties remained, the country's different political factions were closer to a deal on forming a unity government.

Bernardino Leon, UN envoy for Libya, made the statement on Friday in Geneva after an initial round of talks.

"We are making progress and my first comment is that we are now, after the meeting we had yesterday and today in Geneva, in a better position than where we started."Libya, torn apart since the ouster of Moamer Kadhafi in 2011, has two rival parliaments, including the Tripoli body, known as the General National Congress, and the internationally-recognized government based in Tobruk.

Leon said the negotiators would still need to agree on who would lead the new government, which could present some challenges.

The two-year transitional government would work towards organising parliamentary elections, under the terms being discussed.

Leon said a possible agreement could be reached before September 20th.

"We might be starting the final days of these talks and hopefully have the possibility to reach an agreement that as you know we would like to have ready, endorsed, and signed by the 20th of September."The lead negotiator for the General National Congress, controlled by Libya Dawn forces, has also expressed optimism over a deal after the initial meetings.

Thailand Suspect- Bombing suspect in courtA man suspected of involvement in last month's deadly Bangkok bombing has appeared before a Thai court for the first time since his arrest a week ago.

A judge at Min Buri court on Saturday gave police a further 12 days to continue holding and questioning the man.

The army have held him at one of their bases since his arrest at an apartment in the outlying suburb of Min Buri.

They handed him over to police on Friday.

He is facing charges of illegal possession of explosives.

WeatherBeijing will be overcast tonight with a low of 18; overcast to sunny tomorrow with a high of 27 degrees Celsius.

Shanghai also overcast tonight with a low of 24, cloudy tomorrow with a high of 29.

Chongqing, overcast tonight with a low of 24, tomorrow cloudy with a high of 29.

Lhasa expect showers tonight with a low of 12, tomorrow slight rain with a high of 22.

Elsewhere in Asia,Islamabad, slight rain tomorrow with a high of 35.

Kabul, also slight rain, 24.

Down in the Southern Hemisphere.

Sydney , cloudy with a high of 19.

Brisbane, wet with a high of 23.

Perth, cloudy, 20.

And finally Auckland, New Zealand will be rainy with a high of 13 degrees Celsius.

Headline newsTibet to Mark Autonomous Region AnniversaryTibet Autonomous Region in southwest China has been given a major makeover to celebrate the 50th anniversary of the establishment of the region.

More than 3 million Tibet residents of all nationalities are welcoming the anniversary in their own ways.

Tibet will hold a celebration meeting, mass pageant, exhibition presenting the region's achievement over the past 50 years, a show and a highway opening ceremony to celebrate the anniversary.

A central government delegation will participate in the activities.

Monument to be built on Tianjin blast siteA monument will be built on the site of the deadly Tianjin blast in memory of those who lost their lives in the accident last month.

Tianjin plans to build a 24-hectare park on the site of the blast and the monument will be at the center of the parkIn addition, there are also plans to build primary schools and kindergartens in the area, and over 5,000 apartments have been made available to those who lost their homes as a result of the explosion.

Migrants Arrive in Austria, UN Calls for Systematic EU ResponseMigrants began to enter Austria on Saturday, after being transported to the country's border with Hungary by buses provided by the Hungarian government.

After days of confrontation and chaos, Hungary announced on Friday that it would provide around 100 buses to take thousands of migrants in the country to the Austrian border.

For days, Hungary has suspended trains traveling to Austria, in an attempt to register the migrants under EU rules. Thousands of migrants had camped out at the Keleti train station in Budapest for the past week, while more than 1000 others began walking on foot to reach Austria on Friday.

New Round of G20 Finance Ministers Meeting Begins in TurkeyA new round of G20 Finance Ministers and Central Bank Governors Meeting kicked off on Friday in Turkey.

During the two-day conference, finance ministers and central bankers will exchange views on current global economic development and challenges, evaluate investment strategies and discuss topics related to international finance.

A recent IMF report shows that downside risks prevail in the world economic outlook.

Thailand Suspect- Bombing suspect in courtA man suspected of involvement in last month's deadly Bangkok bombing has appeared before a Thai court for the first time since his arrest a week ago.

A judge at Min Buri court on Saturday gave police a further 12 days to continue holding and questioning the man.

The army have held him at one of their bases since his arrest at an apartment in the outlying suburb of Min Buri.

They handed him over to police on Friday.

He is facing charges of illegal possession of explosives.

Weekly Biz RoundupAnchor:

It's time to take a look back at some business headlines from this past week in our Weekly Business Review.

China and Russia has signed a raft of energy deals in the energy sector.

The International Monetary Fund recommended 5 pieces of policies for Asian countries to ensure they can face current economic turbulence.

Manufacturing PMI, the official gauge of factory activity in China, slipped into contraction territory for the third time this year in August.

Let's catch up on all of that and more with CRI's Wenjie.

Reporter:

Alongside Chinese President Xi Jingping's meeting with his Russian counterpart Vladimir Putin here in Beijing, a raft of energy deals were signed in the energy sector.

Among the deals, Russia's top gas producer Gazprom agreed with China National Petroleum Corporation, or CNPC, to supply gas to China from Russia's Far East.

Sinopec also signed a strategic investment treaty to buy shares in Russia's petrochemical group Sibur.

China and Russia have been accelerating cooperation in the energy sector as China's fast-growing economy needs natural gas supplies and energy-rich Russia faces financial challenges.

Industrial experts believe both countries can increase their cooperation to new-energy sectors including solar and wind power, where Chinese companies are using advanced technologies.

====The International Monetary Fund recommended a spate of policies for Asian countries to ensure they can face current economic turbulence.

Speaking at conference on financing in Jakarta, IMF Chief Christine Lagarde listed five measures that should be undertaken, including reining in excessive credit growth.

"One, strengthening defences with prudent fiscal policy. Two, reigning in excessive credit growth. Three, and that is very relevant for the governors of central banks here, align the exchange rate to act as a shock absorber. Four, maintaining adequate foreign exchange reserves, and fifth, building up regulatory and supervisory over sight for the financial sector and making sure that this fully budgeted and can actually implement its task."She also pointed out that Asian economies were doing "pretty well" and that government and monetary authorities in Asia were ready to act when necessary.

Lagarde urged Asian countries to promote a deep financial system, moving away from the traditional banking practices of deposit taking on one hand and commercial lending on the other.

====Chinese authorities have confirmed the current loan-to deposit ratio for commercial banks is going to be lifted.

The 75-percent ratio is going to be eliminated as of October 1st.

Under the current rules, commercial banks in China are only allowed to use 75-percent of the deposits they have on-hand for lending.

Mike Bastin, director of China Business Center based in London says the lift is targeting free up lending to the small and medium size enterprises.

Eliminating this restriction is expected to pump hundreds of millions of dollars into the system.

The 75-percent was first established 20 years to prevent an overheating of the credit system, as well as to control liquidity.

====Manufacturing PMI, the official gauge of factory activity in China, slipped into contraction territory for the third time this year in August.

The official reading has come in at 49.7, down from an even-50 for July.

50 is the line between contraction and expansion.

Ning Jizhe, vice-Chair of the National Development and Reform Commission, says despite the shift into contraction, the PMI is still showing signs it will improve in the future.

"Yes, I have seen the data on the manufacturing PMI, and it has gone from 50 to 49 and something. But this is a small margin of fluctuation. The PMI index is composed of many categories. But we think there are many signs that it will improve in the future. It will improve in the future."Observers are attributing the declining PMI mostly to the phasing-out of traditional manufacturing, as well as bad weather, the air pollution controls put in around Beijing ahead of the parade, as well as low commodity prices.

====China's State Council on Friday released a plan for promoting a nationwide project to deliver telecoms, radio and television, and Internet services over a single broadband connection.

According to the plan, the "three-network convergence" project aimed at connecting IT infrastructures and facilitating information sharing.

The Chinese government has actively been pushing for the convergence via various measures, most notably through the Triple Network Convergence Plan it laid out early in 2010.

The project could help upgrade consumption mode, overhaul industrial structure and improve people's livelihood.

====Chinese authorities have lowered the down payment ratio for second home purchases as of this week.

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.

====Ratings agency Moody's has released new analysis of the Chinese property market, suggesting the downward pressure on home prices are going to ease the rest of this year.

Moody's says it anticipates first-tier cities, including Beijing, Shanghai and Guangzhou, will see a recovery in prices.

It also anticipates certain tier-two cities, including Hangzhou and Xiamen, will also see price increases as inventories begin to dry up.

The expectations come amid the continued decline in new starts and land transactions.

====Crude steel output in China continues to decline.

New data shows crude steel production has dipped around 2-percent year on year in the first seven months.

This compares to an almost 3-percent increase during the same period of last year.

Chinese steel manufacturing has cooled down this year amid the government's restructuring efforts.

Steel prices have also remained weak.

====China Rail Rolling Stock Corp. Ltd held a ceremony on this Thursday to mark the start of the building process of a railcar factory in the northeastern U.S state of Massachusetts.

This mark China-made rail car officially enter the American market.

CRRC vice president Yu Weiping is proud of this ground breaking export.

"In the past we could only export shoes or socks to the United States. Now we can export a whole series of product services to the United States, including high-end equipment, technology, management, capital and services."CRRC is the first Chinese railcar manufacturer to land a major U.S. transit contract. The state-owned company is now among the world's largest rail rolling stock manufacturers.

The new plant, which is scheduled to begin operations in 2016, will also have a 2,240-linear-foot test track. The first cars are expected to be rolled out in 2018.

====Indonesia has unexpectedly dumped plans for its first high-speed railway in favour of a slower and cheaper rail option.

The move is viewed as a blow to Japan and China who have been fiercely competing to win the construction job.

The two Asian powerhouses have been locked in a contest for months to build the railway connecting the capital Jakarta with the mountain-fringed city of Bandung around 160 kilometers away.

Sources say that Indonesia will open a new bid for a slower and cheaper rail project which could save 30 percent on costs.

And that concludes this edition of the weekly business review.

I'm Wenjie, thank you for listening.

SportsChina Move up to 1st Place at FIVB World Cup with 3-1 Win over RussiaTipping things off with the latest action from women's volleyball.

China battled to a 3-1 victory over Russia at the FIVB World Cup.

It lifts China to first place with nine wins and one loss at the tournament.

China are now the favorites for the title and a direct entry into the Rio Olympic Games is well within reach.

China will face their last opponents Japan tomorrow.

Asian Championship: China-JapanSome live action in women's basketball,China and Japan are fighting in the Asian Championship final for the only direct ticket to the Rio Olympic Games next year.

Hosts China dumped South Korea 60-45 last night to reach the final. They will level South Korea's record of 12 titles at the tournament if they win tonight.

Defending champions Japan had earlier beaten Chinese Taipei to meet China in the final.

Nadal out of US OpenIn tennis,Rafael Nadal has been knocked out of the US Open after losing his third round match against Fabio Fognini.

Nadal claimed the first two sets 6-3, 6-4 and was leading 3-1 in the third set.

But things took a turn for Nadal when Fognini broke his serve to go 5-4 up and held on to the advantage until the end.

Nadal, whose poor form has plagued the tennis star since his comeback from injury earlier this year, says he lost the match not because he played badly, but because Fognini was better.

"I fighted until the last point all the time, good attitude. Not enough to win today. I lost a couple matches this year like this. But the good thing is my mind allows me to fight until the end as I did during all my career. Sometimes this year I was not able to do that. So I am happy with that. I enjoyed the crowd. Was amazing support out there. Just very special feeling be out there with that support. I enjoyed that. I tried to fight until the last ball. I believe I did, but was not enough today."Fognini became the first Italian player to reach the fourth round at Flushing Meadows in a decade.

Feliciano Lopez, Marin Cilic, Jeremy Chardy and Jo-Wilfried Tsonga all went through.

In women's action,Serena Williams came from a set down to beat Bethanie Mattek-Sands to keep her hopes of a calendar grand slam alive.

Williams says completing the grand slam would be great but it will not be everything.

"I mean, of course it's there. I'm not a robot or anything. But at the end of the day I'm just here to do the best I can. If that means I win, then great. But if it doesn't, then you know what? I can't let that affect me because I still have other tournaments to play."Serena's sister Venus Williams defeated Belinda Bencic.

Euginie Bouchard and Madison Keys are both through.

Zheng Saisai and Vania King were ousted in the women's doubles.

Germany beat Poland 3-1 in Euro 2016 qualifierIn football,FIFA world champions Germany overcame Poland in their Euro 2016 qualifier to take the top spot in group D.

Mario Goetze and Thomas Mueller opened up the lead early into the game. Goetze found the net again shortly before time to top it off 3-1.

Their Bayern Munich teammate Robert Lewandowski scored the only goal for Poland.

Germany coach Joachim Loew says they have a clear aim right from the beginning and they realized it.

There was only one aim for us - to win this game and to take over the lead in the table. I think the team performed outstandingly in the first 35 minutes against a well organised Polish team in defence. We found space on the pitch and played some good combinations. We went two-nil up to lead, but then in the last 10 minutes before half-time we fell a bit behind when we made mistakes. And because of this we made our opponents strong again in a way."Germany now lead the group with 16 points. They will next take on Scotland.

Poland are two points behind.

More action to follow tomorrow morning,San Marino take on England,And Spain will play Slovakia.

Golf update from Russia Open, Deutsche Bank ChampionshipIn golf,Bradley Dredge carded a round of 66 to lead the Russia Open by one shot after the second round.

After completing his holes Dredge commented that the course offered him quite the challenge.

"The pin positions are the courses main defences and they were slightly tougher today. We had to be careful going into the greens as we did a bit yesterday. I thought today...I mean I found the greens to be absolutely perfect. I really got the speed and got the line spot-on, putted great today."Elsewhere,Brendon de Jonge from Zimbabwe is holding a two-shot lead after the opening round of the Deutsche Bank Championship in Massachusetts.

He is at 6-under 65.

US PGA champion Jason Day is three shots off the pace.

Rory McIlroy, who just re-claimed the world number one status from Jordan Spieth, carded a one-under 70.

Spieth struggled to a 4-over 75.

Cycling update from Vuelta, AlbertaIn cycling,Lampre's Nelson Oliveira has won stage 13 of the Vuelta.

The Portuguese time trial champion jumped clear of his fellow competitors on a descent with 27 kilometers to go and soloed to victory.

There is no change in the general classification as Fabio Aru finished safe in the peloton and retained his red jersey.

Elsewhere,Cannondale-Garmin's Tom Jelte-Slagter won stage 3 of the Tour of Alberta in an uphill finish.

Michael Matthews relinquished his leader's yellow jersey to Bauke Mollema who finished close behind the stage winner.

EntertainmentMainland Box Office Surpasses 29.7 Bln YuanChinese mainland box office in 2015 has surpassed 29.7 billion yuan, or around 4.6 billion USD.

The figure is not only a 48.5% increase compared to the same period last year, it also beats the mainland's total box office revenue from 2014.

Domestic films generated around 18 billion yuan, or 2.83 billion USD, accounting for more than 60% of this year's total so far.

Business insiders are crediting the boom to improved quality of domestic films and promotions.

"Fast and Furious 7" is currently China's highest-grossing film of all time, followed by the domestically-made "Monster Hunt".

Chinese box office is expected to reach 40 billion yuan, or 6.3 billion USD, by the end of 2015, as a number of big titles are scheduled to hit theatres later this year.

Among them are highly-anticipated home-grown films like "Lost in Hong Kong", "Mr. Six", "The Ghouls", as well as Hollywood titles "Mission: Impossible - Rogue Nation", "Pixels", and "Ant-Man".

The Queen Loves 'Downton Abbey' and Spots Historical Mistakes for FunHit British drama "Downton Abbey" has added one more name to its royal fan list, and maybe the most prominent one - Queen Elizabeth II.

Brian Hoey, an author and royal chronicler, told the Daily Mail that the Queen loved watching the history drama and spotting mistakes.

In one episode, the Queen noticed an officer was wearing medals that didn't come out until the Second World War when the TV drama was set after the Frist World War.

Hoey said it was partly because the Queen was familiar with the period and the Highclere Castle where the show was filmed.

The Queen is not the only royal watcher of the famous drama.

The Duchess of Cambridge is said to be a huge fan of the show and makes her husband, Prince William, watch it with her.

According to Mr Hoey, the Queen also enjoys watching singing competition "The X Factor".

The Queen also visited the set of "Game of Thrones" in Belfast last June.

The sixth and final season of "Downton Abbey" returns in the UK on September 20th.

Justin Bieber Scores First UK No.1 SingleJustin Bieber has claimed his first-ever UK No.1 single with "What Do You Mean".

His previous best result was "Boyfriend" in 2012, finishing at 2nd place.

Bieber released the song on August 28th after a month-long promotion with support from a handful of celebrities.

The new song has set a record on music streaming site Spotify with more than 21 million hits worldwide in just five days.

Bieber has now beaten One Direction's "Drag Me Down", which was played 20 million times in its debut week.

Staying on the UK chart, last week's number one, Rachel Platten's "Fight Song" dropped one place to number 2.

Another Canadian singer, The Weekend, who also comes from Bieber's home province, snatched the third place with "Can't Feel My Face".

Calvin Harris & Disciples' "How Deep Is Your Love" remains at number 4, and Jess Glynne's "Don't Be So Hard On Yourself" completes the Top 5.

Kate Hudson to Replace Rebel Wilson in 'Kung Fu Panda 3'

Kate Hudson is going to replace Rebel Wilson in the upcoming animation "Kung Fu Panda 3", according to Hollywood Reporters.

Wilson was set to voice Mei Mei, a crazy ribbon-dancing panda, who is also the first female panda character introduced to the franchise.

However, Wilson had to drop out due to extended production schedule.

The new film sees Po reuniting with his long-lost father and discovering a panda paradise.

However, the paradise faces threats from a supernatural villain, and Po has to help the pandas save their home.

Jack Black, Angelina Jolie and Seth Rogen have all been confirmed to reprise their roles in the film, which also features new voices by J.K. Simmons and Bryan Cranston.

"Kung Fu Panda 3" is set to be released in China on January 29th.

'Black Mass' Premieres in VeniceJohnny Depp has drawn the biggest crowd so far at the Venice Film Festival since it opened three days ago.

Depp, along with Dakota Johnson, brought their new gangster film "Black Mass" to the canal-crossed city for screening.

The film was adapted from the 2001 bestselling book under the same title and was directed by Scott Cooper.

The film portrays the true story of Irish-American gangster James "Whitey" Bulger, who used his position as an informant for the FBI in Boston to build his powerbase in the criminal underworld.

Depp said Bulger was a complex character.

"It was complicated. And there was a part of him, as I said, you know he would take little old ladies' groceries into the house and ten minutes later he might be bashing someone's skull in. But, to him, that was what he knew - that was all he knew."It is scheduled to be released in the US on September 18th.

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

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

Tibet preparing to Mark Autonomous Region Anniversary....

China Urging Railway Project to Start in Thailand...

And migrants beginning to enter Austria after being transported to the country's border with Hungary by bus....

On behalf of the Beijing Hour staffers, this is Sophie Williams in Beijing hoping you'll join us for the next edition of the Beijing Hour, and open a window to the world together.