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

Coming up on the program this morning...

The upcoming meeting between Xi Jinping and Ma Ying-jeou raising expectations of improved cross-strait communication.

China's central government unveiling a guideline for reforming the management of the country's state-owned assets...

And Germany promising a new batch of aid for refugees arriving in the country...

In Business....Chinese and British financial giants inking an agreement to set up a cross border service platform...

In Sports..... AFC Champions League finals remaining unchanged after some recent controversy....

And in Entertainment....An opera based on Pushkin's Fairy Tale hits the stage here in China...

Top NewsAnnouncement of Xi-Ma Meeting Raises ExpectationsAnchorLeaders from the mainland and Taiwan are set to shake hands at a historic meeting in Singapore on Saturday.

The news of the meeting between Xi Jinping and Ma Ying-jeou has raised expectations of improved cross-strait communication.

As CRI's Victor Ning reports, both sides have voiced messages of welcome and anticipation for the event.

ReporterThe meeting is scheduled to take place in Singapore on Saturday. Zhang Zhijun, head of the Taiwan Work Office of the Communist Party of China Central Committee, says the event will be the first of its kind in 66 years.

"This is the first meeting of leaders of both sides of the strait since 1949. It will bring communication across the strait to a new level. It will also bring prospect for the development of the relations across the strait."Zhang Zhijun is also head of the Taiwan Affairs Office of the State Council, China's cabinet.

According to Zhang, Saturday's meeting will feature one session open to the media and another behind closed doors. The two sides will address the press after their private talks. The two leaders will then attend a dinner to conclude the meetings.

Zhang says the two men will meet in their capacity of "leaders of the two sides" of the Taiwan Straits. "The meeting is to be conducted in the capacity of leaders from the two sides of the straits. It means that the two leaders will meet under the title of "leader of the Mainland" and "leader of Taiwan". The two leaders will call each other "Mr.". This is a pragmatic arrangement under the situation of the irresolution of cross-strait political differences on the basis of the one-China principle. It is acceptable for both sides."Zhang says the meeting will help consolidate the 1992 Consensus, which was reached in talks between the two sides in 1992 and endorses the one-China principle.

In Taiwan, the upcoming event is widely covered by local media. The island's ruling Kuomintang Party has hailed the meeting as "a major watershed" for mutually beneficial cooperation.

Chief of Taiwan's mainland Affairs Hsia Li-yan comments highly on the meeting.

"The meeting between the leaders of the two sides shows the firm determination to maintain peace and stability across the Straits, and recreate a new milestone for development of the cross-Straits relations. The focus of the meeting is to consolidate peace, and reiterate to maintain the current peace and stability across the Straits based on the 1992 Consensus."Hsia says experts in Taiwan believe Saturday's events could lead to more regular exchanges between the mainland and Taiwan, such as meeting between heads in charge of cross-strait affairs.

Announcement of the news was particularly welcomed by Taiwan's business community. The Taiwan Stock Exchange's main index opened higher yesterday and continued to climb sharply, reflecting anticipations of further improvement in cross-strait ties after Saturday's meeting.

For CRI, I'm Victor Ning.

Vietnam Observers: Bilateral Economic Cooperation Highlighted in President Xi's Upcoming TripAnchorChinese President Xi Jinping's forthcoming trip this week is set to begin with a stop-over in Vietnam.

CRI's Yu Yang has more on what we can expect from that visit.

ReporterChina has been Vietnam's largest trading partner of Vietnam for the past 11 years.

Last year, Vietnam became China's second largest trading partner inside ASEAN.

A lot of the trade between the two sides is border-trade.

Nguyen Van Binh is the vice chair of the People's Committee in the Vietnamese province of Lang Son, which borders Guangxi.

He says they're hoping Xi Jinping's upcoming visit might spur new opportunities.

"We hope President Xi's visit to Vietnam this time can bring Lang Son some new chances as well as enhance bilateral cooperation in imports and exports and deepen the friendship between Lang Son and Guang Xi."The province of Lang Son is considered a hub connecting trade among ASEAN countries moving goods into China.

Vietnam's Deputy Transport Minister Nguyen Hong Truong says trade through the area is going to be improved through the infrastructure projects currently being worked on.

"In the transport sector, there're many projects between Vietnam and China using Official Development Assistance from China such as the improvement of the railway signal system from Hanoi to Ho Chi Minh City and from Hanoi to Lao Cai. And now we are developing the urban railway Cat Linh-Ha Dong which is the first urban railway using ODA from China. And this urban railway will be operated from 2016."Apart from increased economic cooperation, its expected Xi Jinping's time in Vietnam is also going to include plans to promote cultural exchanges, particularly in the academic world.

Do Tien Sam, former head of Chinese studies with Vietnam's Academy of Social Sciences, says a focus on youth is expected.

"Because young people are the masters of the future for the two countries. So we should have activities regularly, expand our target audience, and the scale of these activates to make it a platform for them to communicate with each other."President Xi Jinping is due to spend two days in Vietnam before heading to Singapore.

For CRI, I am Yu Yang.

Singaporean People, Govn't Looking forward to Chinese President's VisitAnchorChinese President Xi Jinping's forthcoming trip to Singapore this week is expected to help increase cooperation between the Chinese and Singaporian sides.

CRI's Li Jianhua has more.

ReporterXi Jinping's time in Singapore, aside from his historic meeting with Taiwan's leader, is also expected to focus on the promotion of economic ties between China and Singapore.

China is already Singapore's largest trading partner.

However, many on the Singaporian side are hoping to take things further.

Teo Ser Luck, Singapore's former minister of Trade and Industry, says he expects there's going to be a push by the current governmetn in Singapore to have companies in the city-state look toward China for investment opportunities.

"China is a country that has a great appeal as a destination for investment; therefore we want to drive companies from various fields to invest in China. These include science and technology, information, logistics, aviation, and port administration."Singapore, as a member of the Association of South East Asian Nations, or ASEAN, also has a significant role to play when it comes to regional economic ties.

Halimah Yacob, Singapore's Parliamentary Speaker, says the government of Singapore is keenly aware of the role China plays in Southeast Asia.

"China is a very big country, so obviously the steps that it takes, the contributions that it makes, has got a bearing on not just China itself or the Chinese people, but it has also a bearing on the region, which is in Asia."China's ambassador to Singapore, Chen Xiaodong, says Xi Jinping's forthcoming trip to Singapore is already getting a lot of attention.

"The Singaporean people I have have contact with, including government officials like the president, the prime minister, ministers, business people, media types, intellectuals from think tanks, and average people have been paying a lot of attention to President Xi Jinping's visit. They hope the visit will lift the China-Singapore relationship to a higher level and expand cooperation while marking the 25th anniversary of both countries' diplomatic ties."A series of agreements are expected to be signed during Xi Jinping's time in Singapore.

He's also due to meet with Singapore's top leadership, including Prime Minister Lee Hsien Long and President Tony Tam.

For CRI, this is Li Jianhua.

China to Reform State-owned Asset ManagementAnchorChina's central government unveiled a guideline for reforming the management of the country's state-owned assets on Wednesday, vowing to establish an organization supervising the use of assets and to set up a firm to operate capital.

CRI's Xie Cheng reports.

ReporterAccording to the guideline, in a break from the current supervision body that manages the capital as well as state-owned enterprises (SOEs), the new organ will only supervise the use of capital and return other administrative tasks to relevant government departments.

The guideline specified plans to establish an investment firm to manage the state's capital and restructure state-owned enterprises.

It is a supporting document for the central government's guideline on advancing SOE reforms released in September.

Liu Shangxi is director of Research Institute for Fiscal Science with the Ministry of Finance.

"The investment firm will work to manage the capital instead of providing specific products or services. The emerging of such a company as an intermediary agent will prevent the government from interfering in the concrete operation of enterprises. "The country will also accelerate elimination of outdated and excessive capacity for SOEs and dispose of inefficient assets.

State capital will be removed from some SOEs, while others will be restructured or upgraded on the basis of innovation.

Liu added that the move aims to enhance the role of state-owned assets.

"The ultimate goal is to make state-owned assets more vital and more influential. It's to make state-owned assets play a better role in economic reconstructing and upgrading, and in fulfilling their social responsibility."Yet many difficulties still lie in the reform of state-owned asset management, and Minister of Finance Lou Jiwei has noted that more work is needed to help deal with the difficulties.

"Fundamentally, as long as it's a set of stated-owned assets, it will be associated with the government. Then a series of complicated problems will be brought about. If we want to deal with the problems properly, we will need to leave some leeway, to make progress step by step, to make a balance between management and decentralization, and to encourage exploration."China has about 150,000 SOEs, which hold more than 100 trillion yuan, or about 15.7 trillion U.S dollars, in assets. However, the SOEs have posted an 8.2-percent decline in profits in the first three quarters of this year.

In the process of establishing investment firms and restructuring SOEs, the guideline says some state equity will be transferred into the social security funds, so that proceeds from those equities can be used to make up shortfalls in pension funds.

For CRI, this is Xie Cheng.

Chinese Top Legislature Ratifying AIIB Deal to Encourage Countries to Complete Similar ProcedureChina's top legislature on Wednesday ratified the Asian Infrastructure Investment Bank, or AIIB, agreement at the closing meeting of the bimonthly session of National People's Congress Standing Committee.

Finance Minister Lou Jiwei said the ratification will encourage more countries to complete the approval procedure and is a significant step closer to the AIIB's formal establishment.

"We must take the lead in bringing agreement to the legal proceedings, because China is the initiator. Secondly, it will encourage other countries to ratify the agreement as soon as possible, so that the bank could be rapidly set up."The China-backed multilateral development institution is tasked with financing infrastructure construction across Asia.

Among the bank's 57 prospective founding members, 54 had signed the agreement, and the other three are expected to sign before the end of this year.

The establishment of AIIB is slated for the end of 2015.

China's Defense Minister Urges Not to Complicate South China Sea IssuesChina's Defense Minister Chang Wanquan has urged certain countries not to play up the issue of freedom of navigation in the South China Sea.

Speaking at the ASEAN Defense Ministers' Meeting Plus, Chang said China supports the idea that the ADMM Plus mechanism will play a constructive role in pushing for the building of an open, tolerant, transparent and equal regional security cooperation structure.

Chang stressed that China maintains that countries should jointly handle disputes and control risks in order to create a suitable environment for common development and prosperity in the region.

Chang urged all related parties to follow the trend and play a constructive role in maintaining regional peace, stability, development and prosperity.

In the meantime, Chang also demands Japan not to make any move that would complicate the situation in the South China Sea.

Taiwan Business Hopes to Benefit from New PlanAnchorEntrepreneurs from Taiwan are said to be looking forward to new opportunities on the mainland given the plans to support for small and medium-sized businesses and start-ups as part of the new 5-year plan.

CRI's Tu Yun has more.

ReporterAs part of the new 5-year plan, the mainland leadership is promising more is going to be done to allow average people from Taiwan benefit from more cross-straits cooperation.

Zhong Shuling with the Association of Small and Medium Enterprises in Taipai says this pledge is encouraging, especially for small business owners on the island.

"Previous polices have been widely criticized for only benefitting large-scale companies, leaving nothing for small and medium-sized firms. These new polices are aimed at giving a priority to smaller operations. It's really a response to the growing voice from the people of Taiwan, and we are grateful for that. "Zhong Shuling has made the comments while in Nanjing to attend the Zijinshan Summit.

This is a gathering of entrepreneurs from both the mainland and Taiwan designed to promote cross-strait trade.

This year's discussions are mainly focused on the ways to encourage small and medium-sized businesses and young people on both sides of the Taiwan Strait to work together to help promote the cross-strait economic cooperation.

Zeng Peiyan heads the mainland-based Council which sponsors the Zijinshan Summit.

"Small and medium-sized companes are critical when it comes to employment. Cooperation across the Strait should focus more on these companies, giving them more opportunities and financial support. Young businessmen are the driving force of cross-straits relations. Both sides should be making it easier for startups to get financial and technological support."Lin Huiying from the General Association for Small and Medium-sized Enterprises in Taiwan says entrepreneurs on the island should be looking more toward the mainland as an area to grow and develop.

"We hope Taiwan's small and medium-sized enterprises can take better advantage of the fast development of e-commerce on the mainland when tapping into cross-border trade. Authorities from both sides can establish joint projects to promote young business leaders."The Zijinshan Summit itself first began in 2008.

It includes sub-forums on a variety of topics, such as the macro-economy, energy and finance.

This year's session has attracted more than 800 business leaders and leading economists from the two sides.

The Silk Road initiative and the amalgamation of industries are also a topic of discussion.

The Zijinshan Summit is due to conclude on Thursday.

For CRI, I'm Tu Yun.

At Least 18 Killed after Factory Collapses in PakistanAt least 18 people have been killed and many more trapped when a factory collapsed on Wednesday near the eastern Pakistani city of Lahore.

Senior local government official Mohammad Usman said on the scene that rescue workers have recovered 75 injured people and 18 dead bodies.

Rescue worker Kashif Nazir was quoted by media outlets that round 150 people were feared trapped under the rubble.

The accident happened when laborers were doing construction work at the fourth storey of the building.

Provincial Minister Rana Mashhood Ahmed said the rescue operation will be lengthy.

"The operation is under way. It will take time because the building structure is big. They have all the necessary tools with them for a rescue, like cutters, dumpers, cranes and bulldozers. Pray to God that we succeed in rescuing more and more people. The efforts are going on."The reason behind the accident is not known yet.

But an injured factory worker said the owner was not allowed by the officials to construct the fourth storey, but despite all warnings he started to work on it this morning.

Flights from Sharm el-Sheikh to Britain Delayed as PrecautionFlights due to leave Sharm el-Sheikh in Egypt's Sinai Peninsula for Britain yesterday evening have been delayed as a precautionary measure.

The British PM's office made the announcement following an investigation uncovering more information about a Russian airliner which crashed in Egypt on Saturday.

British Transport Secretary Patrick McLoughlin says that safety is a top priority.

"What we are concerned to do is to make sure that our citizens are safe and all the right safety arrangements are in place. And that's what we are checking out this evening and we've got the cooperation of the Egyptian government to do that."He adds that they've become concerned that the plane may well have been brought down by an explosive device.

A team of aviation experts from Britain is traveling to Sharm el-Sheikh to make an assessment of the security arrangements in place at the airport.

The Russian airliner crashed in Egypt's Sinai Peninsula while heading from Sharm el-Sheikh to St Petersburg, killing all 224 people aboard.

Recovery Operation on the Way after Plane Crash in S SudanThe wreckage from a plane crash in South Sudan has been combed by medical personnel and rescue teams for bodies.

The overcrowded cargo plane crashed after taking off from Juba's international airport, killing all people aboard.

Parts of the plane were scattered in a bushy area on the banks of the Nile with a few homes nearby.

Officials say the plane should have only been chartered for cargo.

The cause of the disaster remains unknown.

Germany Promises to Add 75 Mln Euro Donations for RefugeesGerman Foreign Minister Frank-Walter Steinmeier has announced plans to contribute another 75 million Euro to the UN World Food Program to help cover winter needs of migrants arriving in Europe.

"I am thankful that the Financial Commission of the German government agreed with us, that there is now an additional 75 million Euro available to the UNHCR and the World Food Program, and what is important as it will be distributed this year before the winter."In September Germany had made a 100-million-euro commitment during the UN General Assembly debate.

The country has become a final destination for migrants and refugees from the Middle East, Asia and Africa.

It expects between 800-thousand and one million asylum seekers this year, twice as many as in any previous year.

To deal with the refugee flow, Germany is planning to set up a joint police center with Austria at German-Austrian borders.

The two have agreed on Oct. 30 to limit the number of border crossing points for refugees to five, in a bid to ensure an orderly arrival process.

San Diego Police SWAT Team Arrest Man Shooting at OfficersPolice SWAT Team members in San Diego say a man was reportedly arrested after allegedly shooting at officers with a high-powered rifle inside a local apartment.

Police Lt. Scott Wahl said a large sum of resources has been deployed to resolve the incident.

"So we've deployed the maximum amount of resources we have to try to bring this to a peaceful resolution. We have the scene contained, and we believe everybody is safe as long as they stay inside. And we also have our negotiations team that are trying to do everything we can to peacefully bring this to a safe resolution."Wahl added that the incident started as a domestic violence call, but he was still unsure of what had happened before police arrived.

Two local schools were placed on lockdown as a precautionary measure due to the active shooter incident in the city's Midtown area.

Meantime, the San Diego International Airport said a ground stop was in effect for all arriving aircraft due to police activity nearby.

It advised passengers to check with their airline before trying to travel.

Suspect Shot Dead after Stabbing and Wounding 5 on UC CampusA suspect has been shot dead by police after stabbing and wounding 5 people on the campus of the University of California at Merced.

Local media outlets reported that 2 of the victims were flown to hospitals and the others treated on scene.

The motivation of the suspect, described as a male student in his 20s, is still under investigation.

School authorities have advised students to avoid the area.

Classes have been canceled and the campus has also been closed for the day.

Justin Trudeau Sworn into Office as Canadian PMCanada's Liberal Party leader Justin Trudeau has sworn into office as the country's 23rd Prime Minister.

He promised a more optimistic government during a speech at the Governor General's residence, Rideau Hall.

"We have an awful lot of work to do in the coming weeks, months and years. But I know that Canadians expected us to come together and put forward a team that is going to be able to deliver on the change on the ambitious plan for this country that the Liberal Party ran on, and that's exactly what we are going to deliver."Trudeau, the eldest son of former Prime Minister Pierre Trudeau, is the second-youngest person to be sworn in as Prime Minister in the country's history.

He has already laid out the major planks of his economic plan, including running three years of budget deficits and boosting infrastructure spending in a bid to stimulate Canada's flagging economy.

The new government has also pledged to raise taxes for the richest Canadians and cut taxes for the middle class.

OECD Warns Brazil on Environment, Economy RisksThe Organization for Economic Cooperation and Development warned that Brazil must take further action to clean up the environment even amid a worsening economy.

Secretary-General of the OECD Angel Gurría said Brazil is destroying huge area of rainforest despite major conservation progress.

"Brazil still has the world's largest annual deforestation rate, which means that every four years it is losing an area of rainforest the size of Israel."The OECD said in its report that biologically diverse Brazil will be a key player among the 195 countries at the UN climate conference in Paris in December, which will look to reach a global agreement on limiting climate change.

Gurria said Brazil has made tremendous progress in terms of its environmental performance, but rigorous policy implementation remains critically lagging behind.

In 2014 alone, nearly 500-thousand hectares of rainforest were destroyed in Brazil, but the rate is down from around 2.7 million hectares in 2004.

China's Direct Selling Market GrowsChina has seen a growing number of direct selling companies in the past decade.

China's Ministry of Commerce says tax revenue of direct selling has hitting over 30 billion yuan, nearly 5 billion U.S. dollars.

China now has 71 direct selling companies employing over 2.8 million people with products ranged from cosmetics to health care equipment.

In 2014 alone, these companies paid taxes of 5.7 billion yuan and their sales revenue reached 25 billion yuan.

The authority pledged to strengthen supervision to help consumption and increase employment.

WeatherBeijing will see slight rain with a high of 10 degrees Celsius.

Overnight temperatures should drop down to 2.

Shanghai will be rainy with a high of 23 and a low of 19.

In Chongqing, slight rain with a high of 19 and lows of 16.

Elsewhere in the world, staying here in Asia,Islamabad will be rainy with a high of 20.

Kabul will be rainy with a high of 12.

Over to North America,New York will have slight rain with a high of 19 degrees.

Washington, overcast with a high of 22 degrees.

Honolulu, slight rain, 28.

Toronto will be overcast with a high of 19 degrees.

Finally, on to South America,Buenos Aires, overcast with a high of 24.

And Rio de Janeiro, slight rain with a high of 28 degrees Celsius.

Headline NewsXi-Ma Meeting "Milestone" for Cross-Strait RelationsLeaders from the mainland and Taiwan are set to hold a historic meeting in Singapore on Saturday.

Mainland officials are describing the impending meeting between Xi Jinping and Ma Ying-jeou as a "milestone" for cross-Strait relations.

The meeting will be the first time leaders from the mainland and Taiwan will meet since the foundation of the PRC in 1949.

The meeting on Saturday is being hailed as a major step toward ensuring stability in the region.

627 Fugitives Captured in "Fox Hunt" CampaignChina's "Fox hunt 2015" campaign has helped police capture more than 600 suspects abroad. .

The Ministry of Public Security said they were captured or brought to justice in 63 overseas countries or regions during the campaign which began in April this year.

Thirty-two of them were seized over 10 years after they fled.

The "Fox hunt 2015" is part of China's "Skynet" operation. People captured included 78 wanted by the country's disciplinary or procuratorial agencies for suspicions of duty-related crimes, such as corruption.

China Southern Airlines Chairman under ProbeSi Xianmin, board chairman of China Southern Airlines, is under investigation for suspected "severe violation of discipline".

The Communist Party of China Central Commission for Discipline Inspection made the announcement on Wednesday.

Si is also the president and deputy party chief of China Southern Air Holding Company.

China Donates Equipment to Anti-poaching Efforts in KenyaChina has donated 18 double-cabin pickups and security equipment worth 537-thousand U.S. dollars to the Kenya Wildlife Service.

It is aimed to strengthen wildlife protection in national parks.

The donation is part of the promises made by Chinese premier Li Keqiang when he visited Kenya in May 2014.

China has started a training program that will enable both Kenyan and Chinese officials to learn conservation efforts.

Port Executive Sacked over Tianjin BlastsA senior port executive has been sacked for neglect of duty connected to the Tianjin warehouse explosions which killed 139 people.

Zheng Qingyue, president of the Port of Tianjin, has also been sacked from his position as director of the Tianjin International Trade and Shipping Center.

Zheng is set to face criminal charges in connection with the blast.

The investigation into the massive explosions earlier this year has determined officials at the Port neglected safety oversight rules.

Biz ReportsMarket PreviewTurning 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.

U.S. stocks closed mildly lower on Wednesday, after Fed chair Janet Yellen's comments about rate hikes. We will have more on that in a minute.

The Dow slipped by 0.3 percent.

The S&P 500 dipped 0.4 percent.

And the Nasdaq ended with minor losses.

On the economic front, U.S. private sector added 182 thousand jobs from September to October, according to the ADP National Employment Report.

The ADP figure is watched closely as a pre-indicator for the non-farm payrolls report due Friday.

On the corporate front, shares of Time Warner was, down 6.6 percent, weighed on the S&P 500 the most, while shares of Twenty-First Century Fox dropped 5.2 percent after it reported lower-than-expected quarterly revenue.

Other media stocks such as Disney, Viacom and Discovery also fell.

Meanwhile in Europe, London's FTSE 100 added nearly half a percent, after British October services PMI stood at 54.9, which is up from previous month, has brought welcome news of faster economic growth at the start of the fourth quarter.

French CAC 40, advanced by 0.3 percent.

Germany's DAX lost nearly one percent, largely due to the escalation of the Volkswagen scandal.

Finally recap on the Chinese market; shares soared on Wednesday as market sentiment was boosted by the release of proposals for China's five-year development plan.

The benchmark Shanghai Composite Index surged by 4.3 percent, while the smaller Shenzhen index gained 5.3 percent.

Yellen: December Interest Rate Hike a "Live Possibility"Federal Reserve Chair Janet Yellen told Congress on Wednesday that the U.S. economy is "performing well".

She also said that a policy meeting set for December 15-16 is a "live possibility" for raising U.S. interest rates for the first time in nearly a decade.

"What the committee has been expecting is that the economy will continue to grow at a pace that's sufficient to generate further improvements in the labor market and to return inflation to our 2 percent target over the medium term. And if the incoming information supports that expectation, then our statement indicated that December will be a live possibility."Yellen stressed that no decision has been made yet and a move in December will depend on how the economy fares between now and then.

She reiterated that when the Fed does start raising rates, it will do so gradually.

Chinese, British Financial Giants Ink Agreement to Set up Cross-border Service PlatformChina's largest community financial self-service terminal operator Lakala has signed an agreement with Britain's largest bill payment service company.

Lakala and Allpay Limited will work together to establish a cross-border financial service platform and conduct cooperation in community convenience services, smart wearable devices and cross-border e-commerce.

Lakala will also export some of its payment hardware devices and software to Europe.

Lakala's cross-border payment service covers over 20 currencies and the majority market in Asia and now is making forays into the European and North American market.

China to Deliver 50 Bln Express Parcels by 2020: OfficialChina aims to deliver 50 billion express parcels annually, generating 800 billion yuan in business revenue by 2020.

A state Post Bureau official says the target of 50 billion is equal to some 120 billion U.S. dollars, which is about the annual sum of deliveries across the globe today.

Despite a slowing economy, express delivery services in China have grown steadily.

The sector has registered an annual growth rate of over 50 percent in the past five years.

On average, each Chinese person received more than 10 parcels last year, even with only half of the country covered by the delivery network.

No Agreement on Shenzhen-HK Stock Connect: ExchangeHong Kong Exchanges and Clearing is rebuffing earlier reports confirming the creation of a Shenzhen-Hong Kong Stock Connect system.

HKEx says a final agreement has not been reached yet.

This comes after the mainland's central bank governor Zhou Xiaochuan posted a report suggesting the new Connect system would be up-and-running before the end of the year.

The head of the PBOC is being quoted saying the Shenzhen Stock Connect, along with the Shanghai-Hong Kong Connect system, is further proof "the mainland capital market has been opening up to the outside world."HKEx has confirmed it's in discussions with its counterparts on mainland side connected to the establishment of the Shenzhen program.

The Shanghai-Hong Kong Stock Connect system was set up last year, which allows traders from the mainland and Hong Kong to trade shares listed on both exchanges.

A similar program linking Shanghai with the London Stock Exchange is also being considered.

Alibaba 'Strongly Denies' Accusations in JD.com ComplaintChina's e-commerce top runner Alibaba "strongly denies" accusations that the country's second-largest e-commerce company JD.com made in a letter of complaint it sent to a Chinese anti-trust regulator.

Alibaba spokesman Rico Ngai strongly denies these accusations and says the company welcomes competition as it benefits consumers, merchants and service providers.

JD.com's complaint concerned a regulation which forbids e-commerce platforms from limiting or barring their merchants from taking part in promotions on other platforms.

Tensions have come to a head in the run-up to China's annual Singles Day event, the world's biggest online shopping bonanza, which falls on November 11.

China to Make Interest Rates More Market-basedChina is set to make interest rates more market-oriented, in hope of enabling the financial sector to better serve the economy.

According to a State Council official statement newly released on Wednesday, new interest rate formation and adjustment mechanisms must suit market demand.

Supervision of financial institutions will also be enhanced to ensure fair play and risk management.

The statement says the benchmark deposit and lending rates will continue to be used as reference and guidance tools.

To prevent irrational pricing of interest rates, the government will also enhance supervision and continue to set different reserve requirement ratios for different institutions.

Chinese Commercial Banks' Bad Loan Rate Continues to Rise in Q3Bad loan rates for China's commercial banks continued to rise in the third quarter of this year.

According to the country's banking regulator on Wednesday, the bad loan rate stood at 1.59 percent by the end of September.

Meanwhile, the commercial banks' capital adequacy ratio rose to 13.15 percent as of the end of September.

This indicates that these commercial bank's capability to pay back liabilities is improving.

As of the end of September, assets of China's banking institutions, including commercial banks, policy banks and rural credit cooperatives, climbed to some 193 trillion yuan, which is about 30 trillion U.S. dollars.

The number is twice that of bank assets in 2010.

Germany Presses VW to Clean up over ScandalGerman officials stepped up the pressure on Volkswagen to clean up its act on Wednesday.

This came after news reports revealed Volkswagen had understated the fuel consumption of some vehicles, opening a new front in the crisis at Europe's biggest carmaker.

German Transport Minister Alexander Dobrindt said the Volkswagen emission-cheating scandal has also affected some 98 thousand petrol vehicles.

The company said late on Tuesday that up to 800 thousand cars sold in Europe are affected.

These affected vehicles are more expensive to drive than their buyers had been led to believe.

Volkswagen estimated on Tuesday that the latest irregularities would cost the company about 2.2 billion U.S. dollars.

Amazon Opens First Physical BookstoreAmazon has opened its first brick-and-mortar bookstore in Seattle, Washington.

Amazon says its new store, simply called Amazon Books, is a physical extension of the Amazon website.

The company says prices will be identical to its online store.

The store will also Amazon-branded devices such as the Kindle, Echo, Fire TV and Fire Tablet.

Amazon opened a campus store at Purdue University earlier this year which allows students to pick up and return textbooks.

Hyundai Motor Launches Luxury Car BrandSouth Korean largest automaker Hyundai Motor said Wednesday it has launched a premium car brand named after its Genesis sedan to boost earnings.

The move is also in hope to expand its share of the fast-growing global market for luxury vehicles.

The company said that the Genesis brand begins with two sedans, altogether it will add four more models including a sports coupe and sports utility vehicles by 2020.

Hyundai was the only major automaker without a separate luxury brand.

SportsCAS Rejects Appeal, AFC Champions League Finalists Remain UnchangedStarting things off with some football action from China,The Court of Arbitration for Sports has dismissed a third appeal of Al Hilal and Guangzhou Evergrande's opponents in the AFC Champions League finals remain unchanged.

Saudi Arabia club Al Hilal appealed to sanction Al Ahli's 3-0 win over them in the semi-finals over the eligibility of a certain player.

They protested that Oussama Assaidi is not a registered player in the United Arab Emirates and the semi-finals in which he played were illegitimate.

As a result of the CAS' decision, United Arab Emirates club Al Ahli remain qualified for the finals and the games will be played according to schedule.

Guangzhou Evergrande have already arrived in Dubai and the first leg of the finals is set for November 7.

UEFA Champions League ResultsSome latest results from the UEFA Champions League,Bayern Munich completed their revenge of Arsenal by thrashing the London club 5-1 and pushing them to the brink of elimination.

After four games Bayern top Group F with 9 points. Their only defeat and the first of the season came from Arsenal two weeks ago.

That game gave Arsenal their only three points and placed them at third place in this group.

Arsenal now must comfortably win both remaining games in this group to stand any chance of progressing.

The other match in this group saw Olympiakos defeat Kinamo Zagreb 2-1.

Olympicakos are even at 9 points but at second place on goal difference.

In Group G,Willian's late free kick rescued Chelsea from a stalemate and helped them edge Dynamo Kiev 2-1 to come up to second place.

Porto is leading with 10 points after beating Maccabi Tel Aviv 3-1.

And Barcelona did not have much trouble in their 3-0 win over Borisov in Group E.

Neymar was the man of the match with two goals and one assist.

China Held at 3-3 by South Korea at U16 Women's Football ChampionshipIn women's football,China was held at a 3-all draw by South Korea at the Under-16 Asian Championship in the central Chinese city of Wuhan.

China's other opponents in Group A are Iran and Thailand.

Chinese Taipei are in Group B of the 8-team tournament.

China will next take on Iran tomorrow.

The top two teams of the Championship will qualify for next year's Under-17 Women's Football World Cup in Jordan.

CBA/NBA Results, PreviewIn basketball action from the CBA,Liaoning dominated their match against Jiangsu and won 118-87.

The winners led by as much as 21 points by the end of the first two quarters.

The suspension was over as they went into the last quarter with a 32 point lead.

Marshon Brooks' game high of 32 points could not help Jiangsu overturn the deficit.

In more action,Beijing Beikong had their first victory, downing Tianjin 94-83.

All Beijing's three foreign recruits made their CBA debut and contributed 67 points with 24 assists in total.

Sichuan beat Zhejiang 121-104,Shenzhen upset Qingdao 105-101,And it is Shanghai over Bayi 82-64.

Twenty teams are scheduled to hit the NBA court later this morning.

San Antonio are playing Washing in just a few minutes,Houston are going out to meet Orlando,And it is the Golden State Warriors against the LA Clippers.

Tennis ResultsIn tennis,Serena Williams came from a set down and bounced Madison Keys in the opening round of the WTA Elite Trophy in Zhuhai.

Next up for Williams is home favorite Zheng Saisai.

Carla Suarez Navarro blitzed past Andrea Petkovic 6-0, 6-0.

Roberta Vinci had a straight-sets victory over Svetlana Kuznetsova 6-4, 6-4.

And Karolina Pliskova beat Jelena Jankovic in three sets.

In doubles action,Chinese pair Xu Shilin/You Xiaodi blew their lead and suffered a loss in tie-break.

Over in Paris, at the ATP 1000 MastersRafael Nadal eased into the third round with a 6-2, 6-2 victory over Lukas Rosol.

Fifth seed Tomas Berdych needed three sets to beat qualifier Edouard Roger-Vasselin 6-3, 4-6, 7-5.

His French compatriot Richard Gasquet fared better and had a straight-sets victory over Leonardo Mayer.

Gasquet will next face Kei Nishikori who progressed after three sets against Jeremy Chardy.

The other top guns including Novak Djokovic, Andy Murray and Roger Federer will all join them in the third round.

Former IAAF President Diack Being InvestigatedFormer IAAF president Lamine Diack is being investigated for corruption and money-laundering charges.

Diack is suspected of taking at least 200-thousad Euros from Russia to cover up positive doping tests.

The number of the tests is not yet determined.

The money is thought to have come from the Russian Athletics Federation.

Diack's legal adviser Habib Cisse is also placed under probe by French judges acting on evidence from the World Anti-doping Agency.

Director of IAAF's anti-doping department Gabriel Dolle is under custody in Nice.

Eighty-two-year-old Diack was IAAF president for 16 years. He stepped down at the World Championships in Beijing in August. He is succeeded by Sebastian Coe.

EntertainmentOpera on Pushkin's Fairy Tale to Hit China's National TheaterAn opera adapted from the enduring fable of "The Fisherman and Golden Fish" by the great Russian poet Alexander Pushkin will hit the China National Theater.

This is the theater's first original play targeting a young audience. Renowned composer Mo Fan has been invited to write the music and screenplay.

Mo said the opera would be fun for children and the music will contain Chinese influence.

The folktale is about a fisherman's wife who discovers a magic fish but is never satisfied with its offerings.

Director of the opera Shen Liang said both young and adult audiences will find something they love about the performance.

The opera will be performed from 10th to 20th this month.

"Kung Fu Panda 3" to debut in January 2016The third installment of the "Kung Fu Panda" franchise is set to release in both United States and China on Jan. 29 next year.

"Kung Fu Panda 3," directed by Jennifer Yu and Alessandro Carloni, tells the story after Po is reunited with his long-lost father and how he grows into a hero.

In previous installments, Po changes from being a waiter who serves noodles into a Kung Fu hero.

Director Yu says that before she made "Kung Fu Panda 2," she visited a panda base in southwest China's Sichuan Province and held a baby panda which gave her lots of inspiration.

The English voices include Jack Black, Angelina Jolie, Dustin Hoffman, Jackie Chan and Lucy Liu.

The franchise started in 2008. The second installment was released in 2011 and brought in worldwide box office earnings of over 660 million U.S. dollars.

Dying Man Wishes to See Star War EarlierRecently, the hashtag "ForceForDaniel" has gone viral.

It is being used on Twitter to full fill a dying man's wish. Supporters hope the studio will allow Daniel Fleetwood to watch the film before its December 18th release.

According to CNN, Fleetwood is a massive fan of the movie Franchise from the time his dad showed him the original movies when Daniel was 8 or 9 years old. With cancer now spreading throughout his body, Daniel's last wish is to see "Star Wars: The Force Awakens" before he leaves the world.

The campaign to fulfill his dying wish has gain lots of attention, with even the stars of the movie, including Mark Hamill, actor of Luke Skywalker, and John Boyega, playing Finn the Stormtrooper, retweeting the hashtag.

Walt Disney Studios has yet to respond to the superfan's request.

Bryan Cranston, Helen Mirren, and Diane Lane Talk 'Trumbo' at Special NY ScreeningBryan Cranston, Helen Mirren and Diane Lane attend a special screening of their new film "Trumbo," Tuesday night at New York's Museum of Modern Art.

The movie tells the life story of Dalton Trumbo from being Hollywood's top screenwriter to being jailed and blacklisted for their political beliefs, and then using words and wit to win two Academy Awards.

Cranston is known for his award winning performances as the Meth-making Walter White in the AMC series, "Breaking Bad," for which he earned an Emmy and Golden Globe.

Regardless of ranking this role among the other notable characters he's played, Cranston feels Trumbo was an important figure for the era.

"I don't know if I've ranked him. Dalton Trumbo wouldn't call himself a hero, but his actions were heroic. He didn't want this fight, but the fight came to him. In a way it was self-defense and he happened - his actions happened to bring an end to a dark period in American history."The movie also stars Oscar-winning actress Helen Mirren playing gossip columnist Hedda Hopper, and Diane Lane co-stars as Trumbo's wife.

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

Recapping our top stories this morning...

The upcoming meeting between Xi Jinping and Ma Ying-jeou raising expectations of improved cross-strait communication.

China's central government unveiling a guideline for reforming the management of the country's state-owned assets...

And Germany promising a new batch of aid for refugees arriving in the country...

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