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 met with Chinese and US business leaders ahead of his trip next week to the United States.

A summit between China and the US on climate change has wrapped up in Los Angeles.

Around a million people remain displaced following yesterday's massive 8.3-magnitude earthquake in Chile.

In Business... the Fed surprises many by standing-pat on interest rates.

In Sports.... the opener of the much-anticipated Rugby World Cup gets underway later today in England.

In entertainment.... Universal Studios has announced plans to back a South Korean remake of a classic Chinese romance.

Top NewsChinese President Meets U.S. Business Delegation in BeijingAnchorChinese President Xi Jinping has sat down with a number of entrepreneurs and former officials from the United States here in Beijing ahead of his forthcoming trip to the US next week.

CRI's Luo Bin has more.

ReporterThe meeting among President Xi and U.S. delegates in Beijing is part of a regular round of talks held among Chinese and U.S. business leaders and former officials.

Addressing the meeting, Xi Jinping has told the group the relationship between China and the United States needs to be one based on mutual cooperation.

The talks themselves have focused mainly on issues such as bilateral relations, trade and infrastructure investment.

Zeng Peiyan, Chair of the China Center for International Economic Exchanges, says the talks are a good way to get both sides more involved.

"President Xi Jinping's full recognition of the talks is very motivating. We are facing a long and arduous journey ahead. I believe through continued collaboration, we can deepen understanding, strengthen communications, reach more consensuses and enjoy more fruitful results."Thomas Donohue, President of the U.S. Chamber of Commerce, says the relationship between China and the US is one of mutual dependence.

"Our nations share one of the most important and interdependent relationship in the world, our economies are closely tied, and how we work together will have a very (impact) on the strength and stability of the global economy."Issues such as cyber security and regional territorial disputes have been dominating the headlines in recent months.

US Chamber Chief Tom Donahue says he believes these are issues which can be solved.

"Now the conflicts and disagreements between our nations must be acknowledged and must be addressed, our leaders must work through these differences, but these differences must not undermine the great potential for collaboration. We know that this kind of leadership is possible because it's been modeled here in the dialogue, CEOs and former officials from both countries have engaged in candid and constructive exchanges, through the process we'll build mutual trust and understanding and have come up with concrete ideas for moving forward."Xi Jinping is due to meet with US President Barack Obama in Washington next Friday.

Aside from cyber security and territorial issues, the two leaders are expected to address a number of other key issues, including nuclear issues in Iran and on the Korean peninsula, as well as trade and investment.

For CRI, I'm Luo Bin.

China, US Climate Summit EndsA China-US Climate Summit has come to a close in Los Angeles.

Chinese State Councilor Yang Jiechi has led the Chinese delegation.

He says the focus of the meetings in LA was focused mostly on implementing last year's agreement announced at last year's APEC meeting in Beijing.

"Climate change is a major challenge in the world, and is the common responsibility of all mankind to address it. The state visit by President Obama to China last October achieved fruitful results. The two heads of state reached a consensus on climate change and released a China-U.S. Joint Statement on Climate Change. This summit is an important step in implementing that statement."U.S. Vice President Joe Biden says action by both China and the US will be key in getting a global climate change agreement signed in Paris in December.

"Our leadership is vital, China and America, in achieving successful global climate agreement in Paris. The steps announced here unite our efforts, give us the momentum to reach these global agreements. We must learn from Kyoto and Copenhagen. We must reach an agreement that is ambitious, effective and drive down global emissions in the decades to come."The two-day summit in Los Angeles has been attended by delegates from some 30 local governments from both countries.

They've been given specific objectives on energy conservation and emissions reductions.

As an example, the city of Los Angeles is planning to lower its greenhouse gas emissions in 2025 by 45 percent from 1990 levels.

Beijing expects its carbon dioxide emissions will peak by 2020.

China ODI data shows more impressive growthAnchorNew stats show the United States has become the third largest destination for Chinese investment.

The figures are contained in a report which has reviewed outbound direct investment from China through last year.

CRI's Niu Honglin has more.

ReporterAccording to the report, China's foreign direct investment reached 123 billion U.S. dollars in 2014, a 14 percent annual increase.

Zhang Xiangchen, the International Trade Deputy Representative from the Ministry of Commerce, says the numbers also indicate a continuous increase of Chinese investment into the United States.

"As of the end of 2014, China has set up three thousand enterprises in the United States, with investment of $65 billion US dollars. The outbound direct investment stock was 38 billion, accounting for 58% of the total investment stock. The United States has become China's third-largest destination for foreign investment, after Hong Kong and Australia."The official notes that as the two countries are currently negotiating on the Bilateral Investment Treaty, the number is expected to further grow.

"During the new round of negotiations, representatives from both China and the United States have exchanged and evaluated the updated negative list. From our perspective, though the negotiation is still in process, both sides have already made substantive improvements. The US Security Review has been concerned over the Chinese government and enterprises. We will urge the US to simplify procedures, add more transparency in the process, and reduce unnecessary troubles and barriers for Chinese companies to invest in the US."According to the Zhang, the BIT marks an important step in opening China's economy to U.S. investment by eliminating market barriers, and leveling the playing field for American workers and businesses.

And on the other hand, Zhang Xiangchen says it could be a boost for Chinese investors wanting to explore the U.S. markets.

When it comes to whether to invest in the US, Chinese enterprises think more about the long-term development of the company itself. It is a strategic decision concerning many factors. The host country's macroeconomic policies, including interest rate policies are certainly under their consideration. However, what company's eventually do is to think from the perspective of the global industrial layout, consider what their business needs, and then find their own appropriate development opportunities.

Statistics showed in the first 8 month of the year that China's investment in the U.S. totaled more than 4.4 billion U.S. dollars, up nearly 36 percent from the same period last year.

For CRI, I'm Niu Hongling.

Chinese Textile Company Becomes an Important Job Source for Local AmericansAnchorA Chinese company is hoping to help revive the textile industry in a community in the southeastern US state of South Carolina.

CRI's Qi Zhi reports.

ReportHangzhou-based Keer Group became the first Chinese textile maker to set up a subsidiary in the US 7-months ago.

Its US branch, the Keer America Corporation, is located in Lancaster County, South Carolina.

Its establishment has created a new series of job opportunities for people in the community.

"Because I have a kid and a part-time job. And that doesn't work out so well""This plant is a lot cleaner, a lot cleaner."Textile manufacturing had been a backbone industry in Lancaster County for decades.

However, that ended 8-years ago when local textile giant Springs Mills went bankrupt after 120 years of operation, leaving thousands unemployed.

Bob Bundy, Chair of the Lancaster County Council, says getting people back to work is critical.

"The unemployment number during the height of the depression era or so was up in the mid-teens, like 15 percent or 16 percent, which is very, very high. I think it's a fundamental thing that people need to be working and producing."The Chinese company's plant produces around 60 tons of yarn every day.

Around 20 Chinese executives form the nucleus of the company's leadership.

Wang Ke, plant manager, says setting up a branch in the US not only helps lower their production costs, but also gives them access to the global market.

"We are very confident in expanding our market. Keer deals with Chinese clients when we are in China. But here in the US, we've brought in an advanced management and manufacturing team, and we're ready to deal with clients from around the world."While the management team may be prepared to deal with the international community, getting the local workforce on-board does have its challenges.

Otis Perkins is a workshop director for Keer America Corporation.

"Where they work, company comes first over everything. Unfortunately, some Americans don't think that way, they think of their life, their kids, their children and that comes first. And then the company."Despite the challenges in the new market, Keer America Corporation still has plans to expand its production in Lancaster County, which will mean employing more workers in the near future.

For CRI, I'm Qi Zhi.

China refutes Japan's accusation of gas exploration in E. China SeaThe Chinese government is rebuffing Japanese accusations that Chinese gas exploration work is taking place in a disputed part of the East China Sea.

The Chinese Foreign Ministry has issued a statement, saying Japan has no right to make irresponsible comments.

It also says comments such as this won't help tensions in the East China Sea.

The Japanese side has been on-record saying the gas exploration in the East China Sea has been taking place in Chinese-controlled waters, and had no issue with the work until this point.

China-Malaysia Joint Drills UnderwayJoint military drill between China and Malaysia are underway in the Strait of Malacca.

Chinese military observer Li Jie says the drills will help contribute to regional stability.

"The drill in an unprecedented scale is significant to the stability of the region and the Strait of Malacca. It can also play a special role in helping ease the situation in the South China Sea."The drills are being touted as the largest bilateral military exercise ever between China and a country from the Association of Southeast Asian Nations.

The drills themselves are focused mostly on anti-piracy.

The Strait of Malacca is one of the world's most heavily-traveled waterways, with over 90-thousand vessels passing through it every year, carrying about one-fourth of the world's traded goods.

However, piracy in the Strait of Malacca is still rampant, despite long-term efforts by Indonesia, Malaysia, and Singapore.

China to Toughen Officials' Responsibility in Environmental ProtectionThe Chinese government is putting more pressure on government officials when it comes to protecting the environment.

As part of a series of new regulations, officials are going to be held more accountable if don't enforce regulations or approve projects which pose a risk to the environment.

Gao Xuanmin with the Ministry of Environmental Protection is describing the new regulations as a 'sharp sword.'

"The regulations contain requirements for those in both the party and the government. It focuses mostly on officials who have been designated as 'a key few'. It specifies who will be held accountable, in what situations they will be held accountable and how they will be held accountable. It draws a red line of responsibilities for officials in ecological protection. The document is a sharp sword to ensure officials are correctly performing their duties and exercising their authority."Corruption and lax enforcement of environmental regulations are often cited as the main factors behind environmental problems, particularly in China's less-developed regions.

UN Commends China's Performance on Eliminating Parent to Children Transmission of HIVAnchorThe United Nations is lauding the progress being made here in China to bring down HIV infection rates among newborns over the past decade.

CRI's Yu Yang has more.

ReporterSpeaking at the forum held this week in Beijing, Doctor Song Li with China's National Health and Family Planning Commission, says the HIV infection rate among newborns is down by some 80-percent over the past decade.

"In 2014, over 1,200 children, or 94% of all babies who were at the risk of mother-baby infection, were born free of the virus. Mother to child transmission rates have dropped by 80% since the intervention measures were brought in."Doctor Song Li says further steps are also being taken to bring those numbers even lower.

"For more than a decade, we've been looking for a new way to reduce transmission rates. We feel HIV infections can be effectively controlled by providing comprehensive intervention services to pregnant women and by including HIV tests into our regular maternal health care."Craig McClure, UNICEF's Chief of HIV/Aids, says the results seen in China are very commendable.

"The transmission rate from a pregnant woman living with HIV to her baby, on average was close to 50 percent, either during pregnancy, during the delivery of the baby or during the breast feeding period. So driving down the transmission rate in China to 6.1 percent, is quite an achievement."The UN's "Prevention of Parent-to-child Transmission of HIV" program was launched in China in Shangcai County in Henan.

This is an area of China with a high prevalence of HIV infections.

This year, the intervention program has been carried out nationwide.

The HIV testing rate in China last year among pregnant women was close to 99 percent.

Antiviral drug usage among HIV infected pregnant women has come in at around 83-percent.

Vladanka Andreeva, Regional Strategic Intervention Adviser for UNAIDS, says the percentage in China is much higher than in other countries in Asia-Pacific.

"The regional average is that 44 percent of pregnant women in Asia-Pacific know their status. And it is 98 percent to 99 percent coverage in China. You see the effort and commitment of the Chinese government. Incredible result in any case."Doctor Ying-Ru Lo with World Health Organization suggests more inter-governmental consultations will help bring mother-to-child infection rates even lower.

"Just to give you an example, Thailand is one of the countries in the Southeast Asian region of WHO who's performing very well. I think the best would be, if we could arrange interviews, with those delegates from Thailand, and dialogue on how Thailand and China could collaborate and work together."More than 20 countries in the Asia-Pacific have come together at this week's forum in Beijing.

For CRI, I'm Yu Yang.

Amazon China to Source UK Brands to Chinese CustomersAnchorAmazon China has signed a new agreement with UK Trade & Investment to bring UK brands to Chinese online consumers.

CRI's London Correspondent Duan Xuelian finds out more.

ReporterAmazon China has signed the memorandum of understanding with UK's government department UKTI to jointly help UK businesses export their products to China.

It's been announced at this year's Global Investment Conference in London.

As part of the MoU, the two sides have agreed to help UK businesses enter the global market, with key export destinations including China and India.

Dr Catherine Raines, Chief Executive of UKTI, says China has always been a priority market among UK businesses.

She says the collaboration with Amazon China is one of the latest initiatives by UKTI to help UK businesses tap the booming e-commerce market in China.

"So if I look at simply what the UK government has done in the last two years, we've gone from a position where we were supporting about 300 million pounds' worth of export to nearly 4 billion in just two years so it's gone up ten fold. And that's just the businesses that the government is supporting, so you can imagine what have happened to the rest of business. And there is a fantastic relationship between the two countries at the highest level that really wants to make that happen."British government has a goal of helping 100-thousand new businesses begin exporting by 2020.

Last year, Amazon China launched a global store program, which gave Chinese customers access to millions of products sourced directly from Amazon's US website.

This move tripled Amazon's overseas sales in less than a year.

Doug Gurr, President of Amazon China, says the decision to extend their global store to allow the UK and the rest of Europe tap Chinese consumers.

"The reason we have high confidence in the UK is because we look very carefully at the data of, for example, China customers visiting our UK site, so we have good information to know that which brands they are interested in, which brands they are searching for, which brands we therefore believe could be highly successful in China."When it comes to competing with Chinese online retailers Alibaba and JD.com, Doug Gurr says Amazon China has some advantages.

"When we talk about, for example, exports of British brands to China, that would be us that leveraging the fact that all of those brands pretty much work with us in the UK and so what we are doing is saying to them 'you work with us in the UK, we know who you are and we absolutely know we are sourcing from the brand manufacture' and those are the products we will bring to customers in China. And that's the single most important thing which is when you say to a customer what we are doing is connecting you not through maybe four or three different layers of middle people, we are connecting you directly with the brand owner."Amazon China has been promising 3-day delivery on certain overseas products since August.

For CRI, I'm Duan Xuelian in LondonChile declares earthquake emergency as death toll rises to 10AnchorA state of emergency has been declared in central Chile where around a million people have been evacuated following a massive earthquake which rattled the region Wednesday evening, local time.

The death toll from the massive 8.3-magnitude quake right now sits at 11.

CRI's Poornima Weerasekara has more.

ReporterIn the coastal town of Coquimbo, 15 foot waves hit the shore-line after a tsunami was triggered by the 8.3 magnitude earthquake that rocked the area on Wednesday night.

Tsunami waves also hit the Chilean coast further north and south, and were also registered as far away as Alaska and New Zealand.

The quake - the strongest in the world so far this year - lasted for more than three minutes.

It hit about 40-kilometers off-shore, but was strong enough to rattle homes all along the central coast of Chile.

"This is astonishing, no one could imagine so much destruction. The sea came in with such a violent force. I just don't know. We are going to go and check out our business to see how it fared and well, start cleaning."The heavy waves that followed have caused flooding in coastal towns, as well as knocking out power in the worst hit areas of central Chile, leaving thousands without electricity.

"Everything was totally flooded. The mud came in and overtook everything. There's just nothing to do. We are going to have just start cleaning."The quake has so far spawned hundreds of aftershocks, with at least 40 of them at magnitudes greater than 5.0.

Over a million people have been evacuated from the coastline as authorities seek to avoid the same mistakes they made after a similar deadly earthquake five years ago.

Hundreds died in a powerful earthquake in Chile in 2010 because authorities were too slow to issue a tsunami warning.

Chilean President Michelle Bachelet, who has already traveled to the region, says this time the response has been better.

"Everyone has said, I understand, that this is the sixth strongest earthquake in Chile's history, the strongest earthquake this year and among the strongest in the world. But despite this, with the information that we have is that the response has been good and this is noted because there have been earlier times where the response has not been efficient.

Quake-prone Chile has strict building regulations so most of the newer, bigger building in Illapel, the city closest to the quake's epicenter, managed to withstand the shaking.

But most homes in the area are simple, adobe houses.

Cracks have appeared in many of them.

Authorities say this will delay the resettling of hundreds of thousands of people who have been displaced.

The post-quake reconstruction bill is expected to easily run into the 10's of millions of US dollars.

This could rattle Chile's fragile economy that has barely managed to stay ahead of a recession which has been spreading across much of Latin America.

For CRI I'm Poornima WeerasekaraJapan's contentious war bills clear upper house panel amid chaos, street protestsA special panel of the upper chamber of the Japanese parliament has approved the government's new security bill, which is one of the last steps needed to allow Japanese troops to fight abroad for the first time since World War Two.

The bill has been approved following a chaotic session, carried live on television, in which opposition lawmakers tried physically to block the vote.

Vice secretary general of the Democratic Party, Tetsuro Fukuyama, vented his anger after the bill was passed without debate.

"We absolutely cannot accept this. It truly ignores the voice of the people."Outside parliament, thousands of demonstrators have been demanding the resignation of Prime Minister Shinzo Abe.

Thursday's vote clears the way for the bill's final approval.

Abe's ruling bloc has a majority in the full upper house.

However, opposition parties have been using delaying tactics to try to keep the bills from passing before parliament adjourns on September 27th.

Moscow offers to discuss Syria matters with USRussia is offering to hold talks with the United States about its military involvement in Syria.

Russian Foreign Ministry spokesperson Maria Zakharova says Moscow is willing to provide any information the US wants.

"Our experts, our military experts are ready for such dialogue, and these are high level experts. So the ball is on the American side. You should be fully aware that we are ready to answer to all concerns of the American side."In Washington, White House spokesperson Josh Earnest says the offer of talks has been noted.

"We will remain open to what I would describe as tactical, practical discussions with the Russians. And, those discussions would be focused on furthering the goals of our counter-ISIL coalition and ensuring the safe conduct of anti-ISIL coalition operations."Moscow has been stepping up its military assistance to the Syrian government over the past couple of weeks, which Moscow insists is to help battle terrorism.

Russia is a strong supporter of the Bashar al-Assad government.

WeatherBeijing will be sunny with a high of 28 degrees Celsius.

Overnight temperatures should drop down to 16.

Shanghai will be cloudy with a high of 28 and a low of 21.

In Chongqing, it will see moderate rain during the daytime with a high of 22 and lows of 19.

Elsewhere in the world, staying here in Asia,Islamabad will be sunny 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 27 degrees.

Washington, sunny with a high of 30 degrees.

Honolulu, slight rain, 29.

Toronto will see slight rain with a high of 26 degrees.

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

And Rio de Janeiro will be sunny with a high of 31 degrees Celsius.

Headline newsXi Meets US Biz Delegation ahead of US VisitChinese President Xi Jinping has met with several entrepreneurs and former officials from the United States here in Beijing ahead of his visit to the US next week.

He has told the group that the relationship between China and the US needs to be one based on mutual cooperation.

Xi Jinping also says he's ready to have a profound exchange of views with President Barack Obama during his upcoming visit.

The Chinese president is due to leave next week for a trip to Seattle, Washington DC and New York.

He's set to meet with President Obama next Friday.

Annual Beijing human rights forum concludesThe annual Beijing Forum on Human Rights has come to an end.

The two-day event, which focuses on peace and development, brought together more than 100 officials and human rights experts from more than 30 different countries and regions.

Their discussions this time centered on the relationship between the victory in World War II and the progress made on human rights since then.

The annual event was first held in Beijing in 2008.

Officials detained after man burned to death in suspected demolition disputeA number of village officials in Shandong have been detained in connection with the death of a local villager.

A man killed himself by setting himself ablaze earlier this week in protest against the forced demolition of his home in a rural area outside the city of Linyi.

Numerous party and village officials have been detained for culpability in the man's death, as they were in-charge of the village renovation projects.

Forced demolitions have been a continuing problem in China for years, with local officials often using strong-arm tactics to force people from their homes.

Ex-official of Tianjin built club that was 'crazily luxurious'

A former official in Tianjin is facing new charges in connection with a luxurious club he established.

Wang Zhengshan has been kicked out of the Party and is facing charges of abuse of power and accepting bribes connected to a private club he set up.

The 12-hundred square meter club is modeled after the Water Cube in Beijing.

Discipline Inspection officials have described the club as a -quote- "crazy level of luxury."Wang's former boss in the municipal government has also been put under investigation.

Oil tanker explosion kills over 100 in South SudanMore than 100 people have been killed in South Sudan after an oil tanker truck overturned and later exploded.

The truck overturned after it veered off a dirt road.

After the driver left to get help, locals then gathered around to steal the oil from the truck.

This is when the truck blew up.

At least 60 people, including a number of children, were killed in the initial blast, while many others later died from their injuries.

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. stocks closed mixed Thursday, even though the Fed didn't move on interest rates.

We'll have more on that in just a moment.

At the closing bell,Dow Jones fell 0.4 percent.

S&P 500 lost 0.3 percent.

The Nasdaq advanced 0.1 percent.

On the economic front, in the week ending September 12th, the advance figures for seasonally adjusted initial jobless claims fell by 11-thousand from the previous week's unrevised level to 264-thousand, below market consensus.

Meanwhile in Europe, markets there closed mixed on Thursday.

At the closing bell,The UK's FTSE 100 lost 0.7 percent.

Germany's DAX ended virtually flat.

France's CAC 40 inched up 0.2 percent.

Finally in China, the A-Share market also took another hit on Thursday.

The benchmark Shanghai Composite Index was down 2.1 percent, while the Shenzhen Component Index dropped 1.5 percent.

U.S. Federal Reserve leaves key interest rate unchangedAnchor In a move which has caught some off-guard, the US Federal Reserve has decided to leave interest rates unchanged for the time being.

It follows months of anticipation that September would likely be the month the Fed decided to move up interest rates for the first time in some 9-years.

Our Nick Harper has more from New York.

ReporterTo raise or not to raise. That was the question as Federal Reserve Chair Janet Yellen arrived for the second and final day of discussions.

But in a 9 to 1 vote the Fed officials decided the economy is not quite strong enough to handle a rise, as Janet Yellen explained.

"In light of heightened uncertainties abroad and the slightly softer expected path for inflation the committee judged it appropriate to wait for more evidence."There's never an obvious, easy time to raise rates. But the feeling was now is certainly not the right moment.

Several weeks of volatile global stocks markets, prompted by problems in China and the devaluing of its currency, left many Fed watchers, like Douglas McIntyre of 24/7 Wall St, convinced a September rise was not viable.

"Outside the United States, the facts right now, the stock markets, the price of oil, currencies, so I think they had an eye on China where there could be a lot of trouble."The Fed has left rates unchanged at nearly zero since the 2008 financial crisis.

On Thursday it said it still wants to see a stronger labor market and feel more confident of a return to 2% inflation.

Ahead of the announcement Wall St rallied, seemingly convinced a rate hike was no longer likely.

Yet some analysts like Charles Ortel, the Managing Director of Newport Value Partners, feel the Fed needs to get on with what it's been threatening, in an attempt to help balance the books.

"People are beginning to understand that equities, common stock prices, the prices are pushed way too high. And they've been supported by these low interest rates. Governments can not keep them forever low. When governments get in trouble, when currencies get in trouble, they have to raise interest rates and that's what we're in now, a global interconnected financial crisis."The Fed next meet in October, but there are some predictions that rates may now be on hold until the New Year.

"You're not going to have a big change in the American economy in the next 3, 5, 6 months because there's no catalyst. What's going to happen? And the answer is nothing. So again I think the Fed is looking outside the US and asking themselves the governors, are there things that could impact the entire world."The run up to this Fed D-Day has really been all about the hype.

Months of anticipation, weeks of speculation.

But when it came down to it the Fed decision day was like every other in recent years - no change for interest rates.

For CRI, I'm Nick Harper in New York.

CICC, China Reinsurance & BaiduAnchorTime to check in with some of the stories making headlines from the corporate world this week.

We're joined on the line now by Doug Young, Associate professor at Fudan University, former China company news chief with Reuters.

-------China International Capital Corporation and China Reinsurance have prepared to seek listing approval from the Hong Kong Stock Exchange on September 17th.

It was reported that China Reinsurance planned to raise 2 billion U.S. dollars while CICC would like to raise 1 billion dollars.

The two companies will plan for road shows in early October before IPO, if there is no further market crash.

----------------------Questions1)As a China's major investment bank and insurer, why the two companies have been seeking opportunities from Hong Kong, even though the market there is stagnant?

2)Currently, some comments say, investors in Hong Kong are cautious to securities companies. What do you think the prospects of CICC and China Reinsurance? Do you think it's helpful to their development?

--------------------------------------CEO of Baidu, Robin Li, says the Internet search giant is considering de-listing from the US market and backing to A-share.

Li says many U.S. investors do not appreciate the changes in China, where O2O services are taking off fast because of new smartphone technology and cheap labor.

He has concerned that Baidu will be penalized because shareholders do not see the opportunity.

Questions:

1)At present, what is the market value or market share of Baidu? Facing the dilemma, what measures could be taken by Baidu?

2)Do you think it's good for Baidu, if the company back to the Chinese market?

Back anchor:

Doug Young, Associate Professor at Fudan University and former China company news chief at Reuters.

China sees forex settlement deficitNew stats show a continued deficit in foreign exchange settlements here in China through August.

Chinese banks sold 250-billion U.S. dollars' worth of foreign currencies in August, while only purchasing 207-billion.

The forex settlement deficit sits at around 190 billion dollars so far this year.

Forex settlement is one of the main sources of cash for the forex reserves, which declined by 94 billion dollars last month.

Chinese HNA group in talks to buy Spanish soccer teamChina's HNA Group, the parent of Hainan Airlines, is reportedly poised to become the second Chinese company to own a Spanish soccer team.

HNA is now said to be in advanced negotiations with Barcelona-based Real Club Deportivo Espanyol.

HNA is reportedly planning to purchase a 43 percent stake in the club for 10 million euros.

Hong Kong-listed investment group Fosum is also said to be interested in purchasing a 51 percent stake in the team.

However, it's being suggested Espanyol's management would favor the HNA offer as it would allow them to keep control of the team.

SportsEngland to Meet Fiji in 2015 World Cup OpenerIn Rugby,This year's Rugby World Cup is officially set to get underway later on today.

It will see hosts England taking on Fiji in the opener.

England's assistant coach Graham Rowntree.

"It has been a long three months. Been a tough camp for them. We have had a good work out against two great nations in our warm-up games, but the lads are fitter than they have ever been. This is the time of their lives for our lads. I am excited for them."England is in-tough at this year's tournament, as they're in a group alongside Wales, Australia and Uruguay, as well as Fiji.

The All-Blacks from New Zealand are the defending World Cup champion.

This year's event runs from today until the end of October.

Liverpool Held to 1-1 Draw by BordeauxIn football,8 games on deck this weekend as the Round 26 of Chinese Super League is set to get underway,Leaders Guangzhou Evergrande are poised to battle Guangzhou R&F.

Second place Shanghai SIPG will take on Guizhou Renhe.

And it's Shandong Luneng battling Shanghai Shenhua.

-------------In Europe,Liverpool has launched their Europa League campaign by drawing with Bordeaux 1-1 earlier this morning.

In other action,Dortmund come from behind to beat Krasnodar 2-1.

-------------In the English Premire League,Eighth-placed Swansea City is set to host Everton as parat of the weekend's line-up.

Swansea does have 8 points from their four games, including a 2-1 win over Manchester United and a 2-2 draw against defending champions Chelsea.

Manager Garry Monk on the Everton match-up.

"They've had some fantastic results, some good performances and similar to ourselves I think. Overall it's been a good start for them, as it has been for us and that's why I think it will be a good game come the weekend."In other action,Chelsea will play Arsenal.

Bournemouth will meet Sunderland.

And it's Manchester City taking on West Ham United.

------------In off-pitch football news,FIFA has suspended secretary general Jerome Valcke amid allegations he may have been involved in a deal to resell 2014 World Cup tickets.

"I have no reason to say that I shouldn't remain Secretary General regarding what's happened in the last days, because I have no responsibility and I'm beyond reproach and I certainly don't feel guilty. So I don't even have to justify that I'm innocent."A formal investigation has been requested by the FIFA ethics committee.

Brazil Names World Cup Qualifying Team without NeymarIn off-pitch football news,Brazilian head coach Dunga has announced his squad for the first two matches for the 2018 World Cup qualifiers against Chile and Venezuela.

Captain and main star Neymar has been left off the squad for both games.

"We would like to be able to rely on Neymar, but we can't do that, so we have to focus on the players who will contribute to these two qualifiers. We have to bring together the strength of the players we have, if not we are going to lose focus speaking about something which is not concrete."Neymar has been suspended for four games after an incident at the Copa America for his conduct in a loss to Colombia.

He has already missed two games in the South American tournament, but is expected to return against Argentina in Buenos Aires.

The South American qualifiers are a round-robin format with all 10 teams facing each other home and away.

Brazil will kick off their campaign away in Chile on October 8th.

Week 2 of the NFL kicks off this morningIn American football,Week 2 of the NFL season gets underway this morning.

It will see Peyton Manning and the Denver Broncos take on the Kansas City Chiefs.

Both teams come into this morning's game off week-1 wins.

However, a lot of questions are still being raised about how well the veteran Manning is performing.

Manning opened his fourth season in Denver with a paltry performance last week, going 24-40 for 175 yards, zero touchdowns and one interception, despite getting the win over Baltimore.

NBL:Anhui and Shaanxi Reach FinalsIn National Basketball League,Anhui has beaten Guizhou 97-78 to make it into the final.

Power forward Ren Kai scored 24 points and 15 rebounds in the game.

Next off for Anhui is Shaanxi, who got past Henan 120-97.

---------In other basketball news,National Basketball League side Shaanxi Wolves have agreed terms with Central African ex-international power forward James Mays.

The 29-year-old played in Italy last season.

China's Zheng Saisai Reach Next Round at Japan OpenIn tennis,Chinese rising star Zhen Saisai has made it to the third round of Japan Open after a straight sets win over American Irina Falconi.

She will next take on American Christina Mchale.

Taiwan's Hsieh Su-Wei and Magda Linette from Poland have also progressed.

Later on today,China's Liang Chen and Chuang Chia-Jung will face the Japanese duo of Misaki Doi and Kurumi Nara in women's doubles for a place in the semi-final.

Opening Ceremony for the Solheim CupThe opening ceremony for the 2015 Solheim Cup between Europe and the United States has been held at the St. Leon-Rot Golf Club in Germany.

Round one of the Europe versus the USA event gets underway today.

Europe is the defending champion.

European captain Carin Koch.

"My players come from different backgrounds and the Solheim Cup bring them together to a team that has the unique opportunity to represent this great continent - Europe. Everybody on this team will make memories for life, and as a captain it is very fulfilling to see them together in unity, harmony and lots of laughter... and I'm sure that will show in their games this weekend."　Team USA captain Juli Inkster says they're hoping to take back the trophy for the first time since 2009.

"When I was asked to be captain of the Solheim Cup I couldn't wait to get started. It has been everything I thought it would be and more. The best part of this journey is being alongside my team."　The Solheim Cup is the Women's golf version of the Ryder Cup.

Europe won the last match 18-10 in Colorado two years ago.

This was a follow-up to their victory over the Americans in Ireland in 2011.

Colsaerts Takes Two-shot Lead at Italy OpenIn golf,Belgium's Nicolas Colsaerts hit birdies on 8 straight holes on his way to an opening-round 9-under-63 at the Italian Open.

The 32-year-old holds a 2-stroke lead heading into the 2nd round today.

His streak of 8 birdies in-a-row is only the 11th time a player has done that on the European Tour.

"Well, you don't really think about anything, you know you're playing quite well, you know you're taking the chances that you give yourself. It all felt pretty easy because, I mean, except for a long putt I holed on the second, which was my eleven, all the rest was very holeable and I was hitting the right shots and I kept it, you know, very tidy around the hole which kind of made sense to me that I would have so many birdies in a row."　Colsaerts is looking for his first win since the World Match Play Championship in 2012.

Former Italian Open champion Francesco Molinari, India's Shiv Kapur and Sweden's Kristoffer Broberg are tied for second at minus-7.

Leafs acquire Grabner from Islanders in 5-player dealIn off-ice NHL news,As teams begin their training camps this weekend ahead of the start of this year's season, the Toronto Maple Leafs have made an off-ice move.

They've acquired forward Michael Grabner from the Islanders in exchange for a couple of minor league forwards, defensemen and a goaltending prospect.

The 27-year-old Grabner only has one year left on his contract.

He only played 34 games last season for the Islanders due to injury.

At the same time, the Florida Panthers have come to terms with Johnathan Huberdeau.

They've inked him to a two-year, $6.5 million deal just ahead of the team's first on-ice session of camp.

Huberdeau had been threatening to hold out on training camp until he got a new deal.

EntertainmentUniversal Studios to invest in Korean remake of "Bu Bu Jing Xin"Universal Studios has announced that it will invest 10 million US dollars in a South Korean remake of the Chinese romance drama "Bu Bu Jing Xin".

The adaptation will be named "The Lovers of the Moon" and will be helmed by South Korean director Kim Kyu Tae.

This is the first South Korea-drama project for Universal Studios.

The original drama was based on Chinese novelist Tong Hua's novel "Bu Bu Jing Xin" or "Startling at every step".

It follows a modern woman who travels back in time to Qing Dynasty China. She encounters the sons of the Kangxi Emperor and gets entangled in their political struggles.

The series quickly became a cult classic in the Chinese mainland. It was also a smash hit across Asia.

The South Korean adaptation will start shooting later this year.

Internet giant Tencent launched new film production companyChinese internet giant Tencent has just launched its new film production arm Tencent Pictures.

Tencent Chief Operating Officer Mark Ren has been named as the chairman of Tencent Pictures, while Tencent VP Edward Cheng is the new company's CEO.

Tencent Pictures will have three film producing studios which will be operated independently of each other.

Tencent Pictures has also signed new partnerships with Legendary Pictures and Wanda Cinemas.

The deal with Legendary will see Tencent partner on the production of the upcoming video game adaptation Warcraft.

Wanda's deal will involve using China's largest cinema chain to host marketing and promotional activities.

Last week Tencent also unveiled the launch of Shanghai-based Penguin Pictures. That company will focus on producing serials for video sharing platforms rather than feature films.

Tencent was among the investors in Monster Hunt, which recently became the most successful film in Chinese cinemas, and has been trying to make inroads into China's massive entertainment industry in recent months.

'The Wolfpack' opens the Sundance Film Festival in Hong KongThe Sundance Film Festival has returned to Hong Kong for the second year in the row.

The festival, founded by American actor and director Robert Redford, celebrates and highlights independent movies and documentary films.

The main festival takes place annually in Utah, USA, but last year, the organizers held an additional festival Hong Kong for the first time.

This year, Sundance Hong Kong returns with an eclectic selection of independent films, starting with the "The Wolf pack" by American filmmaker, Crystal Moselle.

"The Wolf pack" is the true story of the Angulo brothers, who were home-schooled and often confined to their apartment by a paranoid and over protective father.

As a way to cope, the brothers turned to films as their escape and re-enacted scenes from their favorite movies.

"The Wolf pack" won the Grand Jury Prize at this year's Sundance Film Festival in Utah.

Other films to feature in the Hong Kong leg of the festival include "Dope," "The Stanford Prison Experiment," and "Cartel Land."The 2015 Sundance Film Festival in Hong Kong runs from September 17th to 27th.

David Letterman to appear in Nat Geo series on climate changeThe king of Late night talk shows, David Letterman will return to TV next year to help draw attention to the effects of climate change when he appears on an episode of "Years of Living Dangerously."The National Geographic Channel series that has been renewed for a second season, has signed Letterman for his first appearance since leaving his job hosting CBS' "Late Show."James Cameron and Arnold Schwarzenegger and several other celebrities and scientists have also been invited to appear in the show.

Each will give first-person accounts of conditions at locations from across the planet where the effects of climate change are most prevalent.

The show was last year's Emmy winner for the best documentary.

The new season "Years of Living Dangerously" is scheduled for fall 2016.

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

Recapping our top stories this morning...

Chinese President Xi Jinping has met with Chinese and US business leaders ahead of his trip next week to the United States.

A summit between China and the US on climate change has wrapped up in Los Angeles.

Around a million people remain displaced following yesterday's massive 8.3-magnitude earthquake in Chile.

In Business... the Fed surprises many by standing-pat on interest rates.

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.