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

Coming up on the program this evening...

The Chinese president tells business leaders gathered in Seattle that prospects for the world's second largest economy remain strong...

A Chinese government white paper examines ethnic unity and social stability in Xinjiang Uygur Autonomous Region...

and more than 300 deaths have been confirmed in Saudi Arabia after a stampede at the annual Hajj pilgrimage in Mecca...

In Business...the 2015 Euro-Asia forum has opened in Xi'an, China...

In Sports...a good start for team China's basketball squad at the Asian Championships...

And in Entertainment...celebrities caught doing drugs in China could be facing a lengthy ban from performing...

TopXi Reassures US Business Leaders on Chinese EconomyAnchor:

The Chinese President is reassuring U.S. business leaders of the positive prospects for the Chinese economy. Xi Jinping is currently in Seattle, Washington.

CRI's Victor Ning has more.

Reporter:

President Xi Jingping addressed a China-US CEO roundtable in Seattle on Wednesday, as part of his official state visit to the US.

He says the Chinese economy has a solid outlook despite recent fluctuations.

"The trend of China's economy toward growth and expansion has not changed. Recently the growth of the economy has slowed, with some turbulence in the stock market. Some of it was due to the global economy; some of it was caused by our economic regulations and controls, as well as structural factors accumulated over the years. We are fully aware of the economic risks and challenges we face, and we are actively addressing these issues."President Xi's audience included more than 30 business leaders from notable enterprises from China and the US, such as Alibaba, Lenovo, IBM, Microsoft and Disney.

The Chinese leader says his country's economy will maintain long-term steady growth at a medium-to-high level.

The president says China offers huge market potential and that Beijing will implement policies to further boost the economy - and that the door to China remains open to American companies.

"We welcome the American industrial and business sectors to come to China, especially in fields such as advanced manufacturing, clean energy, environmental protection, finance, IT, modern agriculture and infrastructure. Large US firms are welcome to open regional headquarters and research centers in China, while we encourage more small-to-medium sizes American companies to invest in China."President Xi also says that that China and US are working together to push forward the Bilateral Investment Treaty negotiation.

"The on-going investment and trade negotiations between China and the US, as well as our future agreements, will to a great extend relax market entries on both ends, creating more open and transparent market regulations. This conforms to China's general direction of deepening reform and further opening-up to the outside world, and also benefits the American economy. We have just made significant progress in negotiations regarding our negative lists. "Prior to President Xi's visit, 94 CEOs of American companies jointly signed a letter to the leaders of the both sides, supporting the BIT.

Talks over the treaty have entered its seventh year and highly expectations for the signing have been pinned on President Xi Jinping's visit.

Two sides have now achieved partial results on the negotiation of the negative list of pre-establishment National Treatment.

For CRI, I'm Victor Ning.

Xi's Visit Expected to Step Up Finalizing Negative ListAnchor:

Beijing and Washington are expected to use Xi Jinping's visit to help finalize negative lists for each-other's respective economies after various rounds of negotiations on a bilateral investment treaty.

CRI's Niu Honglin reports.

Reporter:

Li Lijie's company runs a business-to-business website out of the city of Nanjing.

It's designed to help global buyers source products in China.

Last year, the firm opened branch in Los Angeles in an attempt to tap into the U.S. market.

But Li Lijie says they've run into numerous challenges in trying to figure out what kind of technical products can be sold in the US.

"It really impacts your investment strategy, because if you violate the local rules, especially in the United States, the results can be serious and the consequences huge. Obviously, if we can get a clear explanation, we can avoid this type of risk."A negative list is an approach which details which areas are off-limits to foreign investors.

It's considered much more efficient than having to pour through massive lists of areas and items which are acceptable.

The current absence of a negative list has already led to problems for Chinese companies investing in the US.

The US government has denied five different plans submitted by Chinese telecom giant Huawei to invest in the country between 2007 and 2012, citing concerns over possible threats to national security.

At the same time, many U.S. firms have also run into problems because of the lack of a negative list in China.

To deal with this, the Chinese and US sides began talking about the potential creation of a bilateral investment treaty around 7-years ago.

However, the two sides only agreed on creating a negative list approach 2-years ago following the 2013 China-U.S. Strategic and Economic Dialogue.

The two sides finally exchanged their initial offers for the negative lists this June.

Revised lists were exchanged during latest round of the treaty talks earlier this month.

Song Guoyou with the Center for American Studies at Fudan University says one of the issues has been the number of items on the proposed negative list.

"The U.S. side expected the Chinese list to be more concise and shorter. In other words, the US side wants more access to the Chinese market for U.S. firms."Song Guoyou says if they can work through this, the benefits will be huge.

"The United States still faces a moderate economic recovery and relatively high unemployment. At the same time, China is positioned to become one of the most important outbound investors in the world. If the two countries reach an agreement on the BIT, it will certainly boost Chinese investment in the United States."While it hasn't been confirmed, some observers are suggesting a finalized bilateral investment treaty may be signed as part of Chinese President Xi Jinping's meetings with US President Barack Obama in Washington later this week.

For CRI, I'm Niu Honglin.

China Advocates Peaceful and Open Cyber Space: XiAnchor:

President Xi Jinping also says China advocates the building of a peaceful, secure, open and cooperative cyber space.

CRI's Min Rui has more.

Reporter:

Xi Jinping made the comment while attending the 8th annual US-China Internet Industry Forum, at the Microsoft headquarters in Redmond, Washington.

Stressing that every nation should institute its own Internet policy in line with its national conditions, the Chinese President also called for better cooperation with other countries.

"Thus a secure, stable and prosperous cyberspace is of great significance for peace and development of not only one country, but for the whole world. And therefore to study how to govern the Internet and make good use of the Internet has become an issue of interest to all countries, and studied by all countries. No-one can stay isolated from this course."Noting that China and the US are both major countries in the Internet sphere, Xi Jinping suggested the two could explore their common interests and carry out constructive talks on cyber issues, further enhancing bilateral ties.

The remarks come at a time when cyber security has emerged as one of the thorny issues straining China-U.S. ties.

Satya Nadella, Microsoft's CEO, also voiced wishes for more collaboration on a localized level.

"And we hope that your visit this week will advance the spirit of partnership across both countries. We are aware of the governmental negotiations on a range of cooperative issues. We hope for progress there and for progress between our two people to strengthen our education and cultural ties."Xi Jingping also met with Microsoft founder Bill Gates on Wednesday.

Attendees at the forum included notable business leaders in the Internet and tech industries. Facebook CEO Mark Zuckerberg later said on his Facebook page that it was a good opportunity for leaders of technologies companies and government officials from the two countries to discuss common issues for the future of the industry.

Aside from Microsoft, President Xi also paid a tour to the Boeing Company's commercial airplane factory in Everett.

This comes after a series of deals were inked between the plane maker and several Chinese companies.

One of the deals will see Boeing build an aircraft competition center in China, the first of its kind to be established outside the United States.

Xi Jinping noted the cooperation of Boeing and China is a good example for China-U.S. economic and trade cooperation.

"The Boeing Company has for long been a supporter, participant and promoter of business cooperation between china and the United States. Boeing has played an important role in pushing forward china U.S. relations; indeed you are an excellent example of win-win business cooperation between china and the United States."Boeing CEO Ray Conner speaks highly of the President's commitment to work with Boeing.

"President's Xi's visit is a testament to the relationship between our countries and between Boeing and China."President Xi will soon head to Washington D.C. for a meeting with his US counterpart Barack Obama.

For CRI, this is Min Rui.

China's internet policy chief calls for cooperation and understanding in SeattleAnchorThe head of China's internet regulator says he believes Chinese President Xi Jinping's comments about the internet during his policy speech in Seattle should help foster more cooperation between China and the US when it comes to cyber crimes.

CRI's Su Yi has more from Seattle.

ReporterMinister of China's Cyberspace Administration, Lu Wei, is part of the Chinese delegation traveling with Chinese President Xi Jinping this week in the United States.

Speaking at a China-US Internet Industry Forum at the Microsoft headquarters in Seattle, Lu Wei says cyber crime is an issue both sides have to cope with.

"We are on the same boat and nobody should even think about nudging the other one out. We have to look ahead. Looking ahead means we should protect our shared interests and deal with our shared risks, avoiding going backwards and running into detours. We should solve our problems through development and dissolve our disparities."When it comes to cyber security, Lu Wei says the Chinese and US sides should be working more closely to formulate policy.

"We are willing to strengthen information sharing with the US side, fight against internet hacking and online commercial espionage under our laws and international treaties. We also want to set up a double-track dialogue to deal with our responses to internet emergencies to work on cyber security issues together."Meantime, a slew of partnership announcements have been made on the sidelines of the Industry Forum.

The deals have included localizing the newest Windows operating system for Chinese users.

Xiong Liqun is the President of the China Electronics Technology Group, which is the Chinese partner in the project.

"This will surely benefit the Chinese side. It will also help Microsoft, not only in China, but in its projects in other countries. This is because other countries might also have similar interests and security requirements."The China-US Internet Industry Forum is an annual event bringing together government and business leaders from the two countries.

This year's forum in Seattle is co-hosted by Microsoft and the Internet Society of China.

For CRI, I'm Su Yi reporting form Seattle.

Xi visit high school in TacomaPresident Xi Jinping has also taken his time to visit a high school in Tacoma.

The Chinese leader has even invited 100 Lincoln High students to visit China next year.

It's president Xi's second visit to that high school.

He had visited the school in 1993, back when he was the top official in the city of Fuzhou in the southeast of China.

During that trip, Xi Jinping facilitated the establishment of a sister-city relationship between Fuzhou and Tacoma.

Another corruption suspect repatriated from U.S. to ChinaA second economic crimes suspect has been repatriated to China from the United States.

Kuang Wanfang fled to America in 2001. A statement from the office responsible for fugitive repatriation says the woman is suspected of corruption and of taking bribes.

Kuang's return to China comes six days after the forced return of Yang Jinjun, deported from the US on the 18th.

Kuang had been jailed in the US before being returned. Chinese officials say the returns of the two fugitives are important for China's anti-corruption effort, and for cooperation between Chinese and US authorities.

Financial crimes surge in China: SPPNew stats are show a massive increase in the number of financial crimes reported in China through the first half of this year.

Over 11-thousand people have been charged with financial-related crimes from January to June.

This is an over 30-percent increase compared with the same period last year.

Nie Jianhua with the office of China's top prosecutor says they're seeing more and more financial crimes being carried out via the internet.

"In the past few years, internet financing, mainly through internet loans, online fund-raising and online payment services, is growing fast. The platform is virtual and cross-regional, so criminals can take advantage of it to carry out their crimes."Chinese prosecutors say credit card fraud remains one of the most popular areas for fraud.

However, illegal fund raising and insider trading are said to be on the rise.

To deal with this, Chinese prosecutors plan to set up special teams to deal with the sharp increase in financial-related crimes.

China Firmly Curbs Terrorist Crimes in Xinjiang: White PaperAnchor:

A White Paper released by the Chinese government on Thursday says the system of maintaining ethnic unity and social stability in Xinjiang Uygur Autonomous Region has been successful over the past six decades despite challenges. It also stresses the need to continue the fight against the three forces of separatism, extremism and terrorism.

Our reporter Wang Wei has more.

Reporter:

Xuekerat Zakir, governor of Xinjiang Uygur Autonomous Region, says the regional government is resolved to stop the violence in the western Chinese region.

"Violent and terrorist crimes go against humanity, society and civilization. It is recognized worldwide as excrescences which we will resolutely cracked down on in accordance with the law. We will not condone such crimes to exist in our country, in our hometown. We will firmly curb such crimes to maintain social stability."According to the white paper, since the 1990s, three forces - ethnic separatism, religious extremism, and violent terrorism - have led to a series of incidents involving terror and violence in Xinjiang, and elsewhere.

These incidents include explosions, assassinations, poisonings, arson, assaults and riots, and have caused great loss of life, and the destruction of property, affecting innocent civilians from all ethnic groups.

Zakir has noted that all ethnicities in Xinjiang have now involved themselves in combating terrorism, safeguarding stability, and countering extremism in the region.

"We have been making constant efforts in Xinjiang for many years in strengthening rule of law. And we have come up with many effective ways to punish violent terrorist crimes and promote social development. For instance, the activities themed "anti-violence, rule of law and order" have been carried out to arouse the awareness of people in Xinjiang."The white paper reveals that the public security agencies in Xinjiang are on high alert of signs of violent attacks and terrorism, and respond with the utmost severity.

Meanwhile, the autonomous region has always pursued the policy of freedom of religious belief, protecting normal religious activities.

Zakir continues to highlight that proper handling of cultural differences can wipe out potential conflicts and ensure social stability.

"Xinjiang is a place with multi ethnics and various cultures. If we don't handle the cultural issues properly, it may escalate to conflicts or may cause collisions. That is why we say cultural issues should be solved through cultural solutions."The white paper noted that Xinjiang has been home to people of many of Chinese ethnic groups and that the system of ethnic regional autonomy in the region is a measure that accords with the situation in China and with the realities in Xinjiang.

The white paper was released to mark the 60th anniversary of the establishment of Xinjiang Uygur Autonomous Region.

For CRI, I'm Wang Wei.

Saudi stampede toll rises to 310The number of deaths has risen to 310 following a stampede at the annual Hajj pilgrimage in Mecca, Saudi Arabia.

The Saudi Civil Defense authority says victims include people from many different countries. But further details are not yet available.

The stampede happened on Thursday amid a rush to the stoning, a part of the Hajj rituals. Muslim pilgrims throw stones on a wall representing the devil.

This is the second major incident involving massive casualties in Saudi Arabia this month.

Early September, more than 100 pilgrims were killed and over 300 injured after a crane crashed on the grand mosque in Mecca.

Twin suicide bombings rock mosque in Yemen's capital during Eid prayersAbout 30 people have been killed after two suicide bombings at a mosque during Eid prayers in Yemen's capital Sanaa.

Scores of others were injured by the bombings on Wednesday morning local time.

Medical officials say many of the wounded are in critical condition and more deaths are likely.

No group has claimed responsibility for the attack, but security sources have blamed Islamic State militants.

European Union Leaders Pledge One Billion Euros for Syrian RefugeesEU leaders are pledging at least 1 billion euros for Syrian refugees as they move to heal divisions caused by Europe's migration crisis.

After an emergency meeting in Brussels, European Council President Donald Tusk said the money would go to the U.N. refugee agency UNHCR, and the World Food Programme .

"It is clear that the greatest tide of refugees and migrants is yet to come, therefore we need to correct the policy of open doors and windows. The focus should be on the proper protection of our external borders and on external assistance to refugees and the countries in our neighbourhood."The leaders also agreed on more help to Lebanon, Jordan, Turkey and other countries affected by the refugee issue, and strengthened border control.

German Chancellor Angela Merkel called for broader cooperation.

"What we need is the effective repatriation of those people who are not entitled to protection in the European Union. This also includes the support of important countries of origin and transit, the accommodation and support of refugees, the containment of the crime of human trafficking and the fight against the cause of people's escape. That can only happen with the support of our transatlantic partners, the United States, as well as with Russia and the states of the region of the Middle East."Several countries opposed a previous relocation scheme for 120 thousand migrants, but other countries, such as Germany, are willing to open their doors to the refugees.

Hungary and the Czech Republic, among others, are taking a tough stance against mandatory quotas for accepting refugees.

Chinese e-commerce sites promote overseas shoppingAnchor:

China's e-commerce sites are vigorously promoting their overseas shopping services ahead of this year's Mid-Autumn Festival, which falls on Sunday.

CRI's Sophie Williams has more.

Reporter:

As more overseas shopping platforms have sprung up, consumers in China now have more channels to buy products from abroad.

A shopper named Zhang Li says it is also one of the reasons why more consumers are vying for high quality goods.

"It is more convenient to use these online platforms to buy products from overseas. We can go shopping online anywhere and at any time."Large Chinese online shopping websites including Tmall.com, JD.com, and Suning.com have launched sales promotions to compete for consumers who are looking for bargains from abroad.

Traditional brick-and-mortar stores are also getting in on the action.

Chinese retailer Bubugao Group launched a global shopping website, g.yunhou.com, in March, and now has a user base of 1.3 million.

The number of the website's daily transactions has reached 6,000, and its total revenue has amounted to 150 million yuan.

Li Xichun, chief executive officer of the website, says traditional retailers are facing both opportunities and challenges.

"Our traditional supermarkets focus on selling domestic products, and a limited number of imported products. As more Chinese people have demanded products from overseas, our company must upgrade itself to meet the need. We hope to improve the product structure of our markets through the cross-border e-commerce platform. We will become more competitive and be in a more advantageous position when competing against other e-commerce businesses and retailers."The Hunan-based Bubugao Group has more than 400 physical stores across China, and many of them are located in rural areas.

Relying on the wide coverage of its stores, the company's global e-commerce business has successfully reached consumers in rural areas in central and western parts of the country.

Bubugao Group President Wang Tian says traditional businesses are transforming and upgrading.

"Mobile internet has brought huge potential for transformation and upgrading of these traditional companies. Our company is one of the first to expand overseas and has established six branches in six countries which are operating very well. The products that our company purchases from all over the world are being offered to consumers in China through our offline stores and online platform."Another Hunan-based traditional retailing mogul, Hunan Friendship and Apollo Holding Company, also launched an online global shopping platform in June.

To promote the website, the company has set up five overseas shopping experience booths in its physical retail stores where personnel provide consumers with guided help to online shopping for products from overseas.

For CRI, I am Sophie Williams.

WeatherBeijing expects thunderstorms tonight with a low of 16 degrees Celsius; a mix of sun and cloud tomorrow with a high of 25.

Shanghai, wet tonight with a low of 22; rainy to cloudy tomorrow with a high of 26.

Chongqing, rainy tonight with a low of 20; still rainy tomorrow with a high of 23.

Lhasa, cloudy tonight with a low of 11; sunny to cloudy tomorrow with a high of 24.

Elsewhere in Asia,Islamabad, sunny tomorrow with a high of 34.

Kabul, cloudy, 23.

Down in the Southern Hemisphere.

Sydney will see slight rain with a high of 17.

Brisbane, cloudy with a high of 22.

Perth, also cloudy, 26.

And finally Auckland, New Zealand will be wet with a high of 16 degrees Celsius.

Headline newsXi Promises China's Prospect to Business LeadersChinese President Xi Jinping met with a group of business leaders in Seattle, saying China is fully capable of maintaining a relatively high rate of growth for a long time to come.

The statement has been made to a group of CEOs, including the heads of Apple, Microsoft, Boeing, Alibaba, Baidu and Tencent.

The president says high savings rate and big potential in innovative macroeconomic policies help the financial sector to support China's economic growth.

Xi Jinping says he is aware of risks and challenges facing China's economy, vowing to adopt more forceful and innovative macroeconomic measures to address them.

The Chinese president also urges the United States in turn to loosen export restrictions on high tech products and create a fair business environment for Chinese investors in the country.

Chinese president calls for peaceful, secure, open, cooperative cyber spaceChinese President Xi Jinping has pledged the building of a peaceful, secure, open and cooperative cyber space.

The president made the remarks at a China-U.S. Internet forum held at the Microsoft headquarters in Washington state.

President Xi says every country should institute its own Internet policy in line with its own national conditions.

He suggests that China and the United States carry out constructive talks on cyber issues on the basis of mutual respect and trust as they have important common interests and room for cooperation in the Internet sphere.

China issues white paper on Xinjiang ethnic equality, unityChina has issued a white paper on ethnic equality, unity, and development in Xinjiang.

The paper states that the development and progress in Xinjiang marks the successful implementation of China's system of ethnic regional autonomy in the region.

The white paper stresses that implementing regional autonomy in areas where ethnic minorities live in concentrated communities is a basic political system of China and is an important step on the correct path of handling ethnic issues in a Chinese manner.

It was issued on Thursday by the State Council Information Office.

Saudi stampede toll rises to 310The number of deaths has risen to 310 following a stampede at the annual Hajj pilgrimage in Mecca, Saudi Arabia.

The Saudi Civil Defense authority says victims include people from many different countries. But further details are not yet available.

The stampede happened on Thursday amid a rush to the stoning, a part of the Hajj rituals. Muslim pilgrims throw stones on a wall representing the devil.

This is the second major incident involving massive casualties in Saudi Arabia this month.

Early September, more than 100 pilgrims were killed and over 300 injured after a crane crashed on the grand mosque in Mecca.

Biz reportsStocksAnchor:

Time to check today's business news, starting with the closing numbers across the Asian markets. Joining us is Victor Ning.

Reporter:

Chinese shares rose on Thursday, with the benchmark Shanghai Composite Index gaining 0.9 percent to end at 3,186 points.

The Shenzhen Component Index rose one percent.

Shares related to touch screens, underground pipelines and media led the gains on Thursday.

The ChiNext Index of growth enterprises gained 1.4 percent.

In Hong Kong, the Hang Seng Index declined nearly one percent to a two-week low, with financials and energy stocks leading the declines.

Elsewhere in Asia,Japan's Nikki dropped 2.8 percent after returning from a three-day national holiday earlier this week. Auto stocks were among the biggest laggards, as they reacted to news that Volkswagen cheated on US vehicle emission tests.

South Korea's KOSPI added 0.1 percent.

Singapore's Straights Times tumbled 0.8 percent.

And Finally,Australia's ASX/200 closed 1.5 percent higher.

2015 Euro-Asia Economic Forum OpensThe 2015 Euro-Asia Economic Forum opened on Thursday in Xi'an, capital of Shaanxi Province.

The theme of the forum this year is "Build the Silk Road Economic Belt".

The forum aims to explore the innovation models of Asian and European countries in building the Silk Road Economic Belt and promoting in-depth regional cooperation.

The forum features several main seminars on finance, technology, culture, tourism and ecology.

It offers a platform for exchanges between officials, businessman and experts from countries along the ancient Silk Road.

The biennial Euro-Asia Economic Forum was first launched in China in 2005.

Britain opens bidding in China for high-speed rail linkChinese companies have been invited to bid on a new high-speed rail line in England.

Britain's Chancellor of the Exchequer George Osborne made the announcement on Thursday in Chengdu.

The High Speed Two project aims to create faster links between London and cities to the north, starting with Birmingham.

The contract is worth 18 billion US dollars.

Osborne has led a delegation of senior ministers and business representatives on a week-long trip to China to strengthen economic and financial ties.

China may set up national oil, gas pipeline companiesMedia reports say China will split off its oil and natural gas pipelines from state-owned oil giants.

Insiders believe the spin-off of oil and gas pipelines would help break the monopoly in the sector by integrating the operation of state-owned oil companies and reinforcing competitiveness of the industry.

It's said that further private capital will be sought, with fully state-owned companies and private firms both enjoying space in the sector.

China takes big step in pricing reformThe list of items that have prices set by the Chinese government has been reduced by almost half.

This is according to a statement released after a State Council executive meeting on Wednesday.

Previously, price controls were levied in 13 categories.

This has been slashed to 7, including natural gas, electricity, water supply for irrigation works, and postal services.

The total number of items subject to price restrictions has dropped markedly from nearly 100 to 20.

The initiative aims to "allow the market play a better role in allocating resources, effectively stimulate domestic demand, and promote industrial transformation."Dagong: CITIC Securities on Watch ListAnchor:

Chinese rating agency Dagong has placed CITIC Securities on its securities watch list.

Dagong says because of the uncertainties surrounding the brokerage's management, it's putting CITIC on its credit watch list to protect investor interests.

Standard & Poors has already put CITIC on its negative watch.

This comes amid word a number of CITIC employees are being probed for alleged insider trading.

Eleven staffers with CITIC are currently under investigation.

For more on this, CRI's Paul James earlier spoke to Cao Can, CRI's financial commentator.

Microsoft partners with China's BaiduChinese internet giant Baidu has announced a partnership with Microsoft.

Under the deal, Baidu.com will become the default homepage for those using the Microsoft Edge browser in China.

Meanwhile, Baidu has also released "Windows 10 Express" for users upgrading to Windows 10.

In addition, Baidu plans to offer Universal Windows applications for search, video, cloud and maps for Windows 10.

Baidu claims to have more than 600 million users.

Cisco Announces Deal To Partner With Chinese FirmCisco Systems has announced a partnership with Chinese server maker Inspur.

Under the agreement, Inspur will resell Cisco's equipment and develop other hardware with the California based company.

Inspur also says it may build joint-venture plants in China.

Inspur is taking a 51 percent stake in the partnership. The two companies are putting up a combined 100 million US dollars.

China sees record-high M&A in 2015: Thomson ReutersReuters reports the value of announced mergers and acquisitions (M&A) involving Chinese companies reached a record high for the current year.

The high technology sector captured a majority of China's deal-making activity with an 18-percent market share worth 85 billion U.S. dollars, up 140 percent from a year ago.

In contrast, deals in the financial sector, which accounted for a majority of the market share last year, declined 15 percent in value to 62 billion U.S. dollars.

Outbound acquisitions by Chinese companies hit their highest level on record with over 77 billion U.S. dollars worth of transactions, up 91 percent from the same period last year.

China's overseas acquisitions in Europe witnessed a record high with 89 percent growth compared to the first nine months in 2014.

Foreign firms targeting Chinese companies remained almost unchanged.

SportsBasketball Asian Championship recap, previewBeginning with basketball action from the Asian Championship in Changsha,Hosts China kicked off their campaign with a 91-42 victory over Singapore.

Zhai Xiaochuan led China with 13 points.

Former NBA player Yi Jianlian had 12 points and 8 rebounds in the victory.

Head coach Gong Luming says the victory is just the first step in a long process to reach the finals.

"It's a rare opportunity for this Chinese team. We will pursue the title step by step. We have as many as 8 games ahead, and each of them is very important. We hope we can play better and better, and united as a team."China are on the court right now against their second and strongest opponent in the group South Korea.

The Chinese guards had some reservations but have to go all out against South Korea's strong attacking force.

South Korea thumped Jordan in their game last night 87-60.

The game between China and South Korea is in the first quarter and it is (UPDATE SCORE)Former Real coach Luxemburgo to coach China League teamIn football,Former Real Madrid and Brazil coach Vanderlei Luxemburgo has agreed to coaching one of China's second-tier league teams.

He has arrived in Tianjin this afternoon to be officially revealed as new coach for China League's Tianjin Songjiang.

Luxemburgo will take charge of the team next January on an initial one-year deal.

He will have the option to extend his contract for another two years if he completes the task of promoting the team to the Chinese Super League.

The new coach is expected to bring his own backroom staff from Brazil.

Tianjin Songjiang are now 11th in the standings and a promotion is out of reach with four games remaining this season.

Sixty-three-year-old Luxemburgo managed Brazil's national team from 1998 to 2000 and had a 11-month spell at Real Madrid in 2005.

He was with Flamengo and defending champions Cruzeiro in the Brazilian Serie A this season.

He is the most successful coach in Brazil's Serie A history with five league titles.

Real Madrid Legends beat China Legends 3-0 at Winning LeagueIn other football action,The Real Madrid Legends dealt the China Legends a 3-0 defeat at the Winning League in Shanghai.

The Chinese squad includes former national team captain Fan Zhiyi, former Chinese football player of the year Hao Haidong, and current national team coach Li Jinyu.

Former Guangzhou Evergrande coach Fabio Cannavaro returned to China and played for the Real Madrid Legends. He teamed up with Manuel Sanchis and Luis Figo.

In other action,Inter Milan Legends beat Barcelona Legends 6-4 on penalties after regular play ended in an 1-all draw.

The two winning teams will compete for the Winning League title on Saturday.

China Legends and Barcelona Legends will play for third place.

European football leagues recapNow taking a look at how the teams are doing in today's football leagues,Barcelona suffered their first defeat of the season as Celta stunned the defending champions 4-1.

They relinquished the leadership in La Liga to Real Madrid which downed Athletic Club 2-1.

In other action,Rayo Vallecano beat Gijon 2-1. Chinese player Zhang Chengdong was again selected for the line-up and not called onto the field.

Over in the Italian Serie A,Inter Milan downed Verona 1-0 to extend their season-opening winning streak to five games.

They top the table with a maximum 15 points.

The only other team in Europe's elite football leagues that managed the perfect all-winning record and pick up maximum points are German champions Bayern Munich.

Bayern Munich are officially the lone leader in the Bundesliga on 18 points after Dortmund was held at an 1-all draw by Hoffenheim this morning.

Schalke moved up to third place with a 2-0 win over Frankfurt.

Rugby World Cup recap, previewin rugby,Scotland's world cup campaign got off to a good start with a 45-10 win over Japan in the Pool B opener.

Scotland coach Vern Cotter is happy with the win but called it unconvincing while giving credit to Japan.

"I'm not sure it was convincing. We managed to score points in the second half. I thought we traded blows in the first half and they could have scored a couple of times and I thought we were unlucky to score just before half time and in the second half we managed to. Managed to get over the try line to get us a bonus point, which we are very very happy with and hats off to Japan. I thought they were very difficult team to play against - deft passers of the ball. "Other results from earlier,France defeated Romania 38-11,And Fiji suffered their second straight loss, going down to Australia 28-13.

In the coming matches this weekend,Top of Pool A Wales are looking forward to the clash against England on Saturday.

Both Wales and England won their opening games of this year's tournament.

Rio searches for Olympic torch bearersOrganizers for next year's Rio Olympic Games have begun searching and selecting torch bearers from the general public.

Organizers are seeking nominations for residents who have made a difference and inspired people.

Some 12-thousand people are expected to carry the Olympic torch along the 20-thousand relay route.

The flame will be lit in Olympia, Greece next April. The 95-day torch relay begins on May 3.

The torch will pass through more than 300 cities in Brazil before arriving in Rio for the opening ceremony on August 5.

World's oldest sprinter breaks own recordJapanese centenarian Hidekichi Miyazaki broke his own record and became the world's oldest competitive sprinter at the age of 105.

Miyazaki clocked 42.22 seconds for 100 meters.

His personal best stands at 34.1 seconds, which was achieved when he was 103.

Miyazaki did not start running until he reached his 90s and is known as the "golden bolt" for his poses imitating Jamaican sprinter Usain Bolt.

Miyazaki says he wants to challenge the world's fastest man Bolt who is 76 years his junior.

Vasil Kiryienka wins men's ITT at WorldsIn cycling,European champion Vasil Kiryienka has won the men's elite time trial at the UCI road world championships.

The Belarussian cyclist covered the 53-kilometer route in one hour, 2 minutes, 29 seconds.

Favorite and winner for three consecutive years Tony Martin finished seventh.

EntertainmentShanghai introducing three year ban on celebrities caught taking drugsAuthorities in Shanghai have announced that all people within the entertainment industry caught taking drugs will be banned from performing for at least three years.

News website Paper.cn reported that entertainers caught taking drugs are not permitted by any organization to take part in public performances or entertainment shows.

In addition, movies, television and radio shows along with advertisements will not be broadcast during the three year punishment period.

Authorities are taking a tough stance against celebrities caught taking drugs after several scandals came to light last year. Jaycee Chan, son of Kung Fu star Jackie Chan was detained for six months last August for providing his apartment to drug users to smoke marijuana.

Fast and Furious 8 without a directorFast and Furious 7 may have been a big hit but the creators are now facing a director shortage for its follow-up.

The sequel to the fifth highest grossing film ever has already been scheduled for April 17, 2017 however the franchise's previous directors have turned down the opportunity.

According to The Hollywood Reporter, Justin Lim and James Wan have both turned down the chance to direct. Justin Lim is currently heading the Star Trek Beyond movie.

Universal say they are actively looking for the 'right director for the next chapter of the franchise'.

It's been suggested that Fast and Furious 8 will be set in New York City.

Adele sets release date for third albumBritish singer Adele has finally set a release date for her long awaited third album.

Billboard has reported that the album will be released on November 20, with a single set to be released within the next month.

Adele has had a long break since her second album 21 was released 5 years ago.

It's been rumoured that her third album could keep to her theme of age and be titled 25. Her debut album was called 19. She has been working on the upcoming album with a range of artists and producers including Danger Mouse and One Republic's Ryan Tedder.

Her second album 21 won six Grammy awards and sold over 30 million copies worldwide.

Chris Brown facing Australia banUS singer Chris Brown is facing a ban from Australia due to several past incidents off the stage.

An Australian government minister has advised that the singer shouldn't be allowed into the country for his scheduled shows there at the end of this year due to his conviction for assaulting his at the time girlfriend Rihanna in 2009.

A petition has already been launched in the country to ban the star from entering. More than 10,000 people have already signed it. An Australian commercial network has already backed out its sponsorship of the tour.

Chris Brown's Australian tour is scheduled to start on December 9 in Perth.

Executive Producer of British talent show The X Factor says show could be put on holdExecutive Producer of British talent show 'The X Factor' says the show may be put on hold for a while and then rebooted.

Richard Holloway announced the possibility during a Royal Television Society event in London.

He said the show could be rested for a while and then brought back.

The X Factor has been seeing declining viewing figures for the past couple of years. The Executive Producer said that television executives had to realize that viewing habits are changing.

In 2013, a deal was signed with television network ITV to keep both The X Factor and Britain's Got Talent running until 2016.

The X Factor is currently on its 12th series in the UK.

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

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

The Chinese president tells business leaders gathered in Seattle that prospects for the world's second largest economy remain strong...

A Chinese government white paper examines ethnic unity and social stability in Xinjiang Uygur Autonomous Region...

and more than 300 deaths have been confirmed in Saudi Arabia after a stampede at the annual Hajj pilgrimage in Mecca...

In Business...the 2015 Euro-Asia forum has opened in Xi'an, China...

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