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

Coming up on the program this morning...

China and Malasyia vowing to increase bilateral trade and investment as Premier Li Keqiang wraps up his time there...

China vowing new all-out and multi-pronged efforts to lift millions of people out of poverty...

And the Belgian capital remaining on high alert as more arrests are made in connection with the deadly Paris attacks...

In Business.... China set to promote VAT reform in the field of medical care...

In Sports...Guangzhou Evergrande facing an accusation of a breach of agreement with its sponsor....

And in Entertainment.... China-South Korea co-produced film 'Bad Guys Always Die' premiering in Beijing...

Top NewsChina and Malaysia Vow to Boost Bilateral Trade and InvestmentAnchorChina and Malaysia have pledged to promote bilateral trade and investment so as to cement their economic ties.

The move came as Chinese Premier Li Keqiang met with his Malaysian counterpart Najib Razak before wrapping up his official visit to the Southeast Asian country, where he also attended the annual East Asia leaders' meetings.

CRI's Xie Cheng reports.

ReporterSpeaking at a press conference after his meeting with Malaysian Prime Minister, Premier Li Keqiang said China and Malaysia should deepen strategic communication as well as mutual respect and political trust, so as to lay a solid foundation for boosting bilateral relations in a healthy and stable way.

He also urged the two sides to enhance connectivity in the region and strengthen cooperation in a series of different areas.

"We express our willingness to actively participate in construction of projects such as the high-speed railway linking Malaysia and Singapore and railways in southern Malaysia. The bilateral cooperation between the two countries is multilevel. We have reached new agreements on the field of finance, and we will also boost cooperation in areas such as national defense and marine economy."Premier Li also suggested that the two countries should promote people-to-people exchanges and enhance cooperation in education and tourism.

For his part, Najib Razak spoke highly of Premier Li's visit and says that bilateral relations currently are at their best.

"This visit reflects the strong and growing ties between Malaysia and China. Since the elevation of the Malaysia-China relations from strategic cooperation to comprehensive strategic partnership in 2013, we have seen significant development in our bilateral cooperation in various strategic areas. The relations between our two countries are not only growing but it is at the highest level ever between our two countries."Meantime, Premier Li also announced that China would grant a 50-billion yuan, or 8.2-billion U.S. dollar quota to Malaysia under the Renminbi-Qualified Foreign Institutional Investor program.

He pledged several moves to strengthen financial cooperation with Malaysia while addressing a bilateral high-level economic forum in Kuala Lumpur.

"The Chinese side is ready to invest in Malaysia's government bonds in keeping with market principle. And at the same time Chinese banks are also ready to issue RMB denominated bonds in Malaysia. Banks of the two sides can enhance policy communication and increase the use of local currencies in our two-way trade and investment cooperation."Bilateral trade between China and Malaysia stands at over 100 billion dollars annually and mutual investment has been growing rapidly.

Malaysia has been the largest trading partner of China among the 10 members of the Association of Southeast Asian Nations in the past seven years, while China remains Malaysia's biggest trading partner.

For CRI, I'm Xie Cheng.

Chinese Premier Back Home after Attending East Asian Leaders' MeetingsChinese Premier Li Keqiang has arrived in Suzhou city of east China's Jiangsu Province after attending the East Asian leaders' meetings in Kuala Lumpur of Malaysia in the early hours of Tuesday.

Li will attend the fourth leaders' meeting between China and 16 Central and Eastern European countries in Suzhou from Tuesday to Wednesday.

China Rolls out Pro-consumption MeasuresChina will increase imports and make it easier for overseas shoppers to get tax refunds in a bid to boost consumption.

China's Cabinet issued a guideline on Monday, saying the series of measures are aimed at stabilizing economic development.

Authorities also say China will start to import more advanced equipment and daily consumer goods, and eliminate or reduce tariffs on the imports of these products.

It promised to support the development of emerging industries, such as energy conservation and environmental protection, next-generation information technology, and new energy vehicles.

The government will subsidize buyers of these new products and services.

The measures come as China is trying to shift from investment-led growth to consumption and innovation-driven expansion.

In a communique issued last month, the country's top leadership vowed to make consumption a bigger contributor to economic growth in the next five years.

China Vows to Win Battle against PovertyChina vowed to lift all of its poor out of poverty by 2020, when its next five-year-plan for economic and social development is completed.

A statement issued from a meeting of the Political Bureau of the Communist Party of China Central Committee says that poverty-relief is key to preserving long term peace and stability for society.

It pointed out as China enters the "new normal" of slower but more sustainable economic growth, poverty relief is also an important way to increase domestic demand and spur growth.

Over the past three decades China has lifted some 700 million rural residents out of poverty.

At the end of last year, China still had more than 70 million people in the countryside living below its poverty line of 2,300 yuan per year, less than 400 U.S. dollars.

The statement said China will lift 50 million people out of poverty by 2020 through support for industry, education, employment and medical care.

"Dibao," a financial aid program guaranteeing subsistence, will cover the remaining 20 million poor people who are unfit to work.

In addition, the government will improve infrastructure in rural areas, encourage financial institutions to lend support and mobilize social assistance.

China Boosts Tourism to Help 12 Mln People Get Rid of PovertyAnother part of China's plans to lift 12 million people out poverty is by boosting rural tourism in the next five years.

Vice director of the National Tourism Administration Wu Wenxue said from 2010 to 2014, more than 10 million people had overcome poverty through rural tourism, accounting for some 10 percent of the total poor population.

"Rural tourism relieves poverty in five ways: first, rural residents operate tourism business directly, running restaurants and hotels; second, residents work at the restaurants and hotels; third, they sell farm products to tourists; forth, they attend local rural tourism cooperatives and land transfers; and fifth, they invest and share out bonuses in rural tourism businesses."Wu also said the government will accelerate efforts to solve rural tourism related problems, such as the backward environmental and public service situation in the countryside.

In 2014, China had more than two million rural families running tourism business, receiving 1.2 billion tourists.

It is predicted that by 2020, 17 percent of the poor will shake off poverty through rural tourism.

Overuse of Packaging Materials a Concern for China: ReportPackaging has become a multi-billion yuan business in China, thanks to the country's ballooning appetite for online shopping. However, a recent report found that excessive use of packaging materials is causing harm.

China's State Post Bureau and Beijing Institute of Graphic Communication found vendors are overusing tape, plastic bags and stuffing materials while packaging goods. A lack of recycling regulations for these materials has also led to environmental damages.

China has only set requirements on recycling courier receipts. The report urges authorities and companies to reduce the environmental effects of packaging.

China, US to Deepen Sub-national Economic CooperationAnchorThe 2015 China-U.S. Economic and Trade Conference and Business-to-Business Dialogue has been held in southern China, as part of the efforts to promote economic cooperation between the two countries.

CRI's Luo Bin has more.

ReporterStrengthening cooperation between China's provinces and U.S. states is part of the consensus reached by the two countries during Chinese President Xi Jinping's visit to the U.S. in September.

It is also one of the major issues for the China-US Joint Commission on Commerce and Trade as a platform for the two countries to promote trade relations and address issues of mutual concern.

Since 2013, cities and provinces in China have established six joint working groups involving California, Chicago, Texas and some other regions in the United States.

The groups have been working on building new platforms in various economic and trade areas to promote people-to-people exchanges and mutual investment.

Rahm Emanuel, Mayor of Chicago, says his city has benefited from this cooperation.

"Two years ago we signed an agreement, it is the only city in the United States that has engaged an agreement with the eight largest economic cities in China, we have seen that 100% increase in that investment and businesses established in the city of Chicago. And just this week, as I was preparing to leave, we agree to the sign and push through all the processes for Wanda's real estate investment in the city Chicago, the largest real estate investment by a Chinese company in anywhere in the United States along our river."In August, Michigan also signed an agreement with five Chinese provinces and cities.

Brian Connors with the Michigan Economic Development Company says they want to seize the opportunity of China's industrial transformation to bring cooperation to a higher level.

"Now these days it is widely recognized that China's economy is undergoing a transformation and elevation of its industry structure and innovation will be the key to elevating Chinese industries. Michigan will be a strong partner with China in this work. The state of Michigan looks forward to cooperating with their Chinese regional partners to establish innovative working mechanisms designed to help us achieve the goals set out in the working group agreement."In promoting sub-national cooperation between the two countries, the U.S. Department of Commerce has also made efforts, helping delegations from 32 American cities and states to travel to China.

U.S. commerce secretary Penny Pritzker:

"Our sub-national cooperation is a work that the department of commerce has been engaged in for a very long time. And I just hope, if you come away with one impression, you come away with the impression that we are committed to continuing to grow those relationships. And I believe this dialogue between our states and your provinces and between our cities is critical to growing trade relations."The U.S. Department of Commerce and Chinese Ministry of Commerce are expected to sign a memorandum of understanding on regional cooperation and trade during this year's conference.

For CRI, I'm Luo Bin.

Latest Session of China-US Trade Talks Concludes in GuangzhouChina and the US have agreed to boost cooperation on intellectual property rights.

During an annual trade talk which ended on Monday, the two countries pledged to work together on issues including cyber piracy, and IPR crimes.

The latest session of the China-US Joint Commission on Commerce and Trade was hosted in the southern Chinese city of Guangzhou. The three-day event was co-chaired by senior officials including Chinese Vice Premier Wang Yang and US Secretary of Commerce Penny Pritzker.

The two countries also reached agreements in areas including food safety, aluminum and steel production, wildlife trafficking and IT purchases.

World Adolescent Robot Contest 2015 Kicks off in BeijingAnchorThe world Robot games are the most eye-catching part of this year's World Robot Conference 2015 in Beijing. Teams of primary and secondary school students from around the globe have gathered together to design, build, and program robots take part in challenges and different tasks.

Let's follow CRI's Chi Huiguang to take a closer look.

ReporterMark is the captain of the team from Southport School in Australia. Their robot is required to collect balls of different sizes, from ping-pong balls to golf and tennis balls.

"We were slowly improving. This morning wasn't great, But we are getting better and better as we go along."The experience is quite unique for all the young robot players, as they are not only learning to solve real world technical problems using classroom knowledge, but also practicing skills in communication, teamwork, and creative thinking.

Carlos Duran is a team coach from Mexico City.

"All the teams are very competitive. It's very good to have teams from different countries. They're all getting well related. We are happy to share with all the other teams. This is a game, but this is a serious game."The robot games were organized by Simia, China's exclusive source of official LEGO Education Centers from Denmark. President of Simia China, Eugene Zhang, introduces the contest.

"We have 3 categories, the World Robot Olympiad, FIRST Robot Competition and FIRST Tech Challenge. Altogether we have over 16 countries and over 150 teams here this time. We are very happy that all the teams could travel great distances to come to Beijing in the winter time."Donald E. Bossi, president of non-profit organization FIRST, says their study shows that 90 percent of the kids in robotics do better in school, even though they spend a lot of time working on the robots.

"Sometimes studying for tests is not the most fun, and this sort makes learning fun. There's a lot of learning going on, but at the same time, they really enjoy themselves. So we always say we put the inspiration first, the education comes along with it, which I think a lot of teams are enjoying."Besides the robot competition, the event also comprises a main forum and 12 sub-forums with speakers from China, Germany, the United States and Japan reporting on robot research and technology development. An exhibit is held as well, featuring the latest products, and showcasing the research findings.

The number of industrial robots sold in China reached 57 thousand last year, which marked an increase of 55 percent on a year-on-year basis and one-quarter of global sales.

For CRI, I am Chi Huiguang.

China Urges All Sides Concerned to Accelerate Redesigning Iran's Arak ReactorChina has urged all sides concerned to accelerate the redesign and reconstruction of Iran's Arak heavy water reactor.

Foreign Ministry spokesperson Hong Lei made the remarks after a document assigning roles to each party involved has been signed.

He said the signing of the document paves the way for the implementation of the Arak modernization project as a prerequisite for the start of substantial work for the Arak reactor's reconstruction.

He added that all sides should be committed to the Joint Comprehensive Plan of Action and the consensus to push forward the substantial work of the project.

The document and redesign are part of nuclear negotiations reaching a conclusion in July, marking an end to decades of standoff between Iran and Western states.

Western countries wanted Iran to modify the Arak reactor to a light one so as to address the concern of a technical path to a nuclear bomb, which Iran could not accept.

China proposed to reduce the output of plutonium by technical means while keeping Iran's heavy water reactor, winning approval from both sides.

U.S. Issues Worldwide Travel Alert for Its Citizens over Terror ThreatThe United States has issued a worldwide travel alert on Monday, warning its citizens of "increased terrorist threats" after the Paris attacks.

The State Department says information suggests that ISIL, al-Qaeda, Boko Haram, and other terrorist groups continue to plan terrorist attacks in multiple regions.

In a warning posted on its website, the State Department says U.S. citizens should exercise vigilance when in public places or using transportation.

Belgium Remains on High Alert, Makes New Terror ArrestsBelgian Prime Minister Charles Michel said on Monday Brussels will remain under the highest level of alert for another week, due to an ongoing terrorism threat.

"The alert level in Brussels will stay at four, on a scale of one to four. That confirms the level that was defined yesterday, and that signifies that the threat is serious and imminent. I can confirm that for the rest of the country, level three is in place. Level three is for possible and likely threats."Michel added, however, that schools and the subway system in Brussels will re-open on Wednesday. The city has been locked down since the weekend.

Meanwhile, Belgium announced 15 of the 16 people arrested in Sunday's police terror raids were freed without charge. One suspect was charged in relation to the Paris attacks.

Another five people were arrested on Monday. Two were released, while police are questioning the other three.

Britain Announces 270-bln-dollar Defense Program to Defeat Modern Security ThreatsBritish Prime Minister David Cameron has announced one of the biggest ever defense spending programs in the UK, worth 270 billion U.S. dollars, in response to increasing threats posed by terror groups.

Cameron made the announcement on Monday, saying the new money will be spent on defense equipment and support over the next decade.

The plan includes the recruitment of 10,000 military personnel who will make up two new strike brigades, each 5,000 strong, for rapid deployment missions.

There will also be nine new Boeing P8 maritime patrol aircraft and an 18-billion-U.S.-dollar increase in the equipment budget.

Germany to Maintain Military Presence in Afghanistan in 2016Germany will maintain its military presence in northern Afghanistan in 2016.

German Defense Minister Ursula von Der Leyen said on Monday that move will be in cooperation with Germany's NATO partners.

"We have agreed - and this is very good news - that we are going to go ahead with our contribution in the mission of strengthening the security architecture in Afghanistan. That is a very good result because there is still a lot to do. "Afghan Defense Minister Mohammad Masoom Stanekzai welcomed the decision.

"Fighting the terrorism is a task that one alone cannot do that. And I think recent incidents and events show that the new generation of the terrorists will require a wider international cooperation."The Taliban captured the northern Afghan city of Kunduz in September, the first of such seizure by the group in 14 years.

Germany said last week it will send more than 100 additional soldiers to Afghanistan against an extremist insurgency.

Germany's announcement was welcomed by the US, which plans to extend its own military presence in Afghanistan through most of 2016.

10 Years of Angela MerkelAnchorGerman chancellor Angela Merkel celebrated 10 years in office on Sunday. She is now one of the longest serving chancellors in German history, in addition to being the first woman to hold the office.

It is her welcoming stance towards this year's influx of refugees that has brought her the most international acclaim, as well as intense criticism in Germany.

CRI's Ira Spitzer reports from Berlin.

ReporterAngela Merkel took over Germany's top office from Gerhard Schroeder in 2005. She was the first woman to hold the office as well as the first chancellor to have come from the former communist East Germany. When she took over, Germany was in a very different place. Over 5 million people were out of work and many wondered whether Europe's largest economy was headed in the wrong direction.

However, 10 years later, the unemployment rate is half of what it was, and the country is the unquestioned economic and political leader of the European Union. Over the past two years, Merkel has been Europe's key player in trying to broker peace in Ukraine. She also was a central figure in negotiating a controversial third bailout with the Greek government, which allowed that country to stay in the Euro zone.

But perhaps her signature moment of the past 10 years was opening Germany's borders to all those fleeing Syria who have arrived in Germany seeking asylum. At a recent congress of her center right party, she spoke of the importance of addressing the root causes of migration and working closely with other countries like Turkey.

"Dear friends, in this way, we can reduce the number of asylum seekers. Not by unilaterally imposing an upper limit nationally on the number of refugees. THAT is in everyone's interest."Not everyone sees it that way though. Merkel's approval ratings have hit their lowest point in four years. And at the same event, on the same stage, the leader of her sister party, Horst Seehofer the Minister President of Bavaria, struck back at Merkel's policies.

"We do not need a welcoming culture, but a culture of reason. And our faith... our Christian faith, is not, dear friends, as opposed to this reason. "No one can be forced to shoulder more than they can carry"If Merkel can survive the current refugee crisis though, the 61 year old Chancellor remains the favorite to win another term in 2017.

For CRI, I'm Ira Spitzer in Berlin.

Ukrainian Government Announces Temporary Suspension of Cargo Traffic with CrimeaThe Ukrainian government has announced it'll temporarily suspend the movements of cargos across the contact line between the country's southern Kherson region and the Crimean peninsula.

The suspension will remain until the Ukrainian cabinet compiles a list of products allowed to be supplied to Crimea.

Ukrainian President Petro Poroshenko has sent a letter to Prime Minister Arseny Yatsenyuk offering temporary termination on automobile and railroad freight transport links with Crimea.

It comes as activists from the Crimean Tatar community have been blocking the access for maintenance crews to site in Kherson region, where 4 transmission pylons were reportedly blown up leaving 1.8 million people in the Crimean peninsula without electricity.

Virtual Reality App Brings Crisis Zones Closer to HomeA new mobile app from Los Angeles-based media company RYOT allows users to step virtually into crisis zones, even taking them on a tour of the war-torn streets of Syria.

The project is a video called "Welcome to Aleppo" offering viewers a full panoramic view of Aleppo.

Users watching on a mobile device or wearing a virtual reality headset can shift their viewpoint at will to take in collapsing buildings and ruined streets.

Bryn Mooser is a Co-founder of RYOT.

He believes that with virtual reality, people get an opportunity to really see the scale of devastation.

"I think for the most part with virtual reality, what's exciting is that you get an opportunity to see, really, scale and scope. So as a war correspondent, as a crisis correspondent myself, I've really always struggled to show the scale of devastation after a disaster. And there's something about standing in the streets in Kathmandu, for instance, after the earthquake, of seeing how big the actual destruction was. That's hopefully an important moment to get somebody to take action, to get involved, to make a donation."The Syria film includes a call for the audience to take action. It directs viewers to donate to humanitarian organizations.

Mooser hopes the virtual reality films will increase awareness and generate money for aid groups working on the ground.

RYOT has also announced a partnership with the Associated Press for a series of virtual reality stories that will roll out over the next five months.

Emission Scandal Comes from Volkswagen's Internal Problems: ExpertA German auto expert has claimed Volkswagen's emissions scandal was caused by internal problems resulting from its desire to reach the top.

Ferdinand Dudenhoeffer says Volkswagen wanted to be #1 in the car industry.

"Consumers don't understand why they tamper with carbon dioxide emissions data in the auto-industry, as the manufacturing management is so severe in the US. This problem comes from Volkswagen itself. Volkswagen wants to become the top brand in the auto-industry."Volkswagen launched its "2018 Strategy" when Martin Winterkorn became its chief executive officer in 2006.

It's been reported that under the strategy, Volkswagen aimed to dominate the world's automobile industry, therefore leading to a "stress-and-fear culture" in the company. The staff began caring more about results than the means of achieving those results.

Volkswagen's emissions scandal was revealed on September 18 when the U.S. Environmental Protection Agency (EPA) found that software installed by Volkswagen in its diesel cars could manipulate emission-testing data.

The scandal has significantly damaged the company's image.

WeatherBeijing will be snowy with a high of -2 degrees Celsius.

Overnight temperatures should drop down to -8.

Shanghai, slight rain with a high of 14 and a low of 9.

In Chongqing, slight rain with a high of 18 and lows of 13.

Elsewhere in the world, staying here in Asia,Islamabad, sunny with a high of 23.

Kabul will be snowy with a high of 4.

Over to North America,New York, cloudy with a high of 6 degrees.

Washington, cloudy with a high of 10 degrees.

Honolulu, overcast, 27.

Toronto will be cloudy with a high of 5 degrees.

Finally, on to South America,Buenos Aires, slight rain with a high of 25.

And Rio de Janeiro, rainy with a high of 27 degrees Celsius.

Headline NewsChina and Malaysia Vow to Boost Bilateral Trade and InvestmentChina and Malaysia have pledged to promote bilateral trade and investment so as to cement their economic ties.

The move came as Chinese Premier Li Keqiang met with his Malaysian counterpart Najib Razak before wrapping up his official visit to the Southeast Asian country.

Premier Li Keqiang said China and Malaysia should deepen strategic communication as well as mutual respect and political trust, so as to lay a solid foundation for boosting bilateral relations in a healthy and stable way.

For his part, Najib Razak spoke highly of Premier Li's visit and says that bilateral relations currently are at their best.

Meantime, Premier Li also announced that China would grant a 50-billion yuan, or 8.2-billion U.S. dollar quota to Malaysia under the Renminbi-Qualified Foreign Institutional Investor program.

Chinese FM Confirms Li, Abe's Brief TalkThe Chinese Foreign Ministry has confirmed a brief conversation has been held between Premier Li Keqiang and Japanese Prime Minister Shinzo Abe in Malaysia.

Li and Abe talked on the sidelines of a series of annual leaders' meetings on East Asia cooperation.

According to Foreign Ministry spokesperson Hong Lei, Premier Li said the two countries have witnessed improvement of ties recently, but the improved momentum is still fragile.

He said improvement to the bilateral ties depends on whether Japan can seriously honor its commitments.

Li urged Japan to do more to contribute to cementing mutual understanding and improving ties.

France Strikes IS in Iraq from Newly Deployed CarrierFrance launched air strikes against Islamic State targets in Iraq on Monday.

The first flights took off from the Charles de Gaulle aircraft carrier, newly deployed in the eastern Mediterranean.

Army chief of staff General Pierre de Villiers said the new strikes in Ramadi and Mosul are in support of ground forces that were pushing against troops of the Islamic State group.

He said they will also launch strikes against IS targets in Syria, including command and recruitment centers as well as oil facilities.

The strikes came 10 days after the deadly jihadist attacks in Paris, claimed by IS, that left 132 dead.

Head-on Collision in Central Mexico Kills 24At least 24 people have been killed when a passenger bus crashed head on with a car in Mexico's central state of Puebla.

The accident, which occurred around dawn, has left another 10 people injured after the two vehicles burst into flames on impact.

The bus, with mainly students on board, has been reduced to charred remains by the fire.

Local media reports say the crash "jammed closed the boarding door (of the bus), trapping the passengers, of which only a few managed to exit through the windows."No exact number of passengers has been given for either the bus or the car.

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 reversed early gains to close mildly lower Monday, as Wall Street digested a batch of downbeat economic reports.

The Dow fell 0.2 percent.

The S&P 500 lost a fraction of a percent.

While the Nasdaq closed flat.

Pfizer's biggest-ever healthcare deal pushed its shares down 2.6 percent, making it one of the biggest drags on the S&P. Target company Allergan closed 3.4-percent lower after a $160 billion merger announcement. We will have more on that shortly.

A few days ahead of the U.S. Thanksgiving holiday, about 6.2 billion shares changed hands on U.S. exchanges, nearly 1 billion short of the average from the last 20 sessions.

Investors were unimpressed by Monday's economic data and some were concerned that economic growth may be slower than expected.

U.S. home resales fell in October as a persistent shortage of properties limited choice for potential buyers and pushed up prices.

Meanwhile, Wall Street continued to weigh the likelihood of a December rate hike by the U.S. central bank.

Over in Europe.

The British benchmark FTSE 100 decreased by half a percent.

Germany's Dax lost a quarter of a percent.

While the French CAC 40 shed a fraction of a percent.

Quick recap on the Chinese markets, stocks closed lower on Monday after the country restarted initial public offerings, with brokerages leading the declines.

The benchmark Shanghai Composite Index was down 0.6 percent.

The smaller Shenzhen index lost 0.9 percent.

China to Promote VAT Reform in Medical-care, Old-age Care FieldsChina is set to replace turnover tax with value-added tax in medical-care and old-age care fields in a bid to boost consumption.

VAT is tax levied on the difference between the cost of production and the price of a commodity on the market.

It is favored partly because it can reduce double taxation.

The move aims to further simplify policies on pre-tax deduction of enterprise income tax in order to ease corporate tax burden.

The timetable for implementation has not been announced at this point.

The government document also pledges to improve consumer subsidy policies via promoting a shift in subsidizing sellers to subsidizing consumers.

All of these measures conform to its principle of cranking up fiscal supports for new consumption-related areas.

For more on this, we are joined by Gao Shang, commodity analyst with Guantong Futures.

Taking PointsQ1: Could you explain what the specific measures of the VAT reform are and some of the benefits that medical-care enterprises could see after implementation of this new policy?

Q2: As we know, medical care and old-age care industries often need government support due to high overhead and low rates of return. How might this fact this influence outcomes once the government replaces turnover tax with value-added tax?

Q3: Will the VAT reform be applicable to foreign companies? If yes, what kind of competition will be brought by them in this sector?

Back AnchorThank you very much, Gao Shang, commodity analyst with Guantong Futures.

RMB's Inclusion in IMF SDR Basket Would Be Credit Positive: Moody'sA report by International rating agency Moody's on Monday says the inclusion of the Chinese yuan in the IMF Special Drawing Rights basket would be credit-positive for China.

Moody's said the inclusion would also encourage broader use of the RMB in the areas of cross-border trade, portfolio investment and debt issuance.

It would also encourage central banks to invest in RMB-denominated assets, which would potentially stabilize RMB demand.

On November 13, Managing Director of the IMF Christine Lagarde issued a statement that IMF staff had proposed including the RMB in its SDR.

The IMF will decide on the matter in a meeting of its Executive Board on November 30.

Linking Middle East with Central Asia via Strait of Hormuz Possible: German ExecutiveThe Chairman and CEO of Germany's national railway group Deutsche Bahn AG said on Monday that connecting the Middle East with the Far East and Europe is a realistic vision.

Grube Rüdiger Grube notes that as the Arab Gulf states are working to launch their own railway network, a railway connection through the Strait of Hormuz will be able to link the Arab peninsula with Central Asia.

The ongoing 2,177-km-long rail network will link all six members of the Gulf Cooperation Council for the first time to provide an alternative to air or sea travel.

He says it can also add value to China's Belt and Road Initiative.

The project is expected to be fully operational in 2018.

Pfizer, Allergan to Merge in 160-billion-dollar Tax Inversion DealU.S. drug giant Pfizer and its Irish rival Allergan PLC on Monday announced a merger deal worth some 160 billion U.S. dollars, creating the world's biggest drugmaker.

Allergan shareholders will receive 11.3 shares of the combined company for each of their Allergan shares.

And Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares.

The takeover would be the largest inversion ever in the U.S. and will enable a U.S. company to move abroad and take advantage of a lower corporate tax rate elsewhere.

The combined company will be named "Pfizer plc."The transaction is expected to be completed in the second half of 2016.

Alibaba Is Looking to Sell Meituan-DianpingChina e-commerce giant Alibaba Group is looking to sell its 7% stake in Chinese online discounts site Meituan-Dianping for about $1 billion.

The Wall Street Journal says Alibaba intends to exit its Meituan-Dianping investment. Instead it will focus more on building a rival food-delivery platform of its own called Koubei, which is a joint venture set up in June by Alibaba and its payment affiliate Ant Financial.

Other reports suggested that Alibaba could instead become a major shareholder in online takeout food delivery site Ele.me with a rumored $1.5 billion dollar investment in the company.

The online to offline food business is burgeoning in China's e-commerce arena.

Insiders point out that the food delivery services will continue to grow next year, with more users favoring convenient food delivery that is just a swipe away.

Investors also note that the booming delivery services will also help business owners to direct online customers to their physical stores and services.

SportsSponsor Accuses Guangzhou Evergrande of Breach of AgreementBeginning with some off-pitch football news from China,Guangzhou Evergrande's glorious record of a double crown this season has been tainted by an accusation of a breach of agreement between the club and its sponsor.

Dongfeng Nissan is accusing Evergrande of changing the advertisement on the shirts of their players without Dongfeng's consent in the second leg of the AFC Champions League finals last weekend.

Emblazoned across the chest of the shirts is "Evergrande Life" instead of "Dongfeng Nissan."The contract says Dongfeng Nissan has the sole right to the advertisement and changes should be made under mutual consent of both the sponsor and the club.

The sponsor has issued a statement saying that Guangzhou Evergrande went through with the decision after Dongfeng Nissan rejected its requests to change the advertisement.

Dongfeng Nissan has started legal action against the double champions.

The club says it is open for negotiations and wishes Dongfeng Nissan to continue its sponsorship.

The deal for the advertisement in question is worth 110 million yuan.

UEFA Champions League PreviewElsewhere in football,Bayern Munich are back on the training pitch at home, getting ready for their Group F game in the UEFA Champions League against Greek outfit Olympiakos.

The teams are tied at 9 points on top of the table and both need only one point from the last two group games to safely progress.

Bayern Munich have won all but two games this season on all fields and Olympiakos manager Marco Silva knows what they are coming up against.

"We know the best points on Bayern and they have a lot. We need to explore things, where we are strong as well. We are prepared to play, but we need to understand who we will face and what they are doing this season so far. They don't just win, they score a lot and we will try our best with ambition and in our limit, that's how we can succeed."The other game in this group is between Arsenal and Dinamo Zagreb.

More action from the tournament to come,Astana and Benfica kick off this round of play from Group C,Barcelona host Roma in Group E,And Chelsea visit Maccabi Tel Aviv in Group G.

Real Madrid President Supports BenitezReal Madrid will have one more day to recuperate before they swing back into action at the Champions League.

They were humiliated with a 4-0 home defeat by Barcelona in La Liga over the weekend.

Real's president Florentino Perez is giving under-fire coach Rafael Benitez full backing and support.

"We are convinced that we have a great team with great players, who are capable of providing a lot of joy to our fans who deserve it. As for the direction of the club and for myself as the president, the most important thing is the success of the team and the institutional stability that Real Madrid requires to obtain it."Perez acknowledged they had a bad game but insisted Benitez will bring victories if they let him work.

Perez also denied receiving requests from players to sack Benitez.

Real Madrid resumes action in the UEFA champions League against Donetsk in Group A on Thursday morning Beijing time.

Chen Lijun Clinches Two Golds at Weightlifting World ChampionshipsIn weightlifting,China's Chen Lijun has set a new world record in the men's 62-kilogram clean and jerk event at the World Weightlifting Championships in Houston, Texas.

His lift of 183-kilos surpassed the previous record of 182-kilos set by compatriot Le Maosheng at last year's Asian Games.

That also gave Chen a new world record total of 333 kilos to win the world title, breaking the previous record of 332 set by a North Korean lifter.

On the women's side,Chinese lifter Chen Xiaoting has won the women's 53-kilogram snatch event.

The 24-year-old also finished silver in the overall competition with the gold going to Hsu Shu-ching from Chinese Taipei.

Federer committed to more Stuttgart EventsIn tennis,World number 3 Roger Federer has put rumors of retirement to rest by committing to playing in the Mercedes Cup Stuttgart for the next two years.

Federer says he is keen to win the Stuttgart event after it switched from clay court to grass this year.

"I love playing on grass, I always have, always will and to be able to play another tournament on grass is great for me. You can manage your energy, you schedule, it's a better preparation for Wimbledon at the end, even though I do not see the tournament in Halle and the tournament in Stuttgart as preparation for Wimbledon, even though a lot of people talk about that, for me it's about winning titles and that's why I am coming to Stuttgart next year."Thirty-four-year-old Federer is still competitive on the court. He just finished runner-up in the ATP Finals behind Novak Djokovic yesterday.

New Zealand's Ma'a Nonu Joins French Top 14 Team ToulonIn rugby,New Zealand's World Cup winning center Ma'a Nonu has retired from international duty and joined Toulon in the French Top 14.

Thirty-three-year-old Nonu won back-to-back World Cup titles with the All Blacks and is still determined to pursue further success at Toulon.

"I guess it comes with the success of this club. I guess everyone wants to beat Toulon and the purpose again for this club is to win again. I'm here to try my best for the club and I want to achieve things here as well."Toulon have won the European championships in the last three years and have four domestic titles in the Top 14 league.

They currently sit at fourth place this season.

Entertainment'Bad Guy Always Die' Premiered in BeijingChina-South Korea co-produced film 'Bad Guys Always Die' has premiered in Beijing.

Director Sun Hao along with the leading cast, including Korean actress Son Ye-jin and Chinese actor Qiao Zhenyu, attended the event.

In this black action-comedy, China's top director Feng Xiaogang and leading Korean filmmaker Kang Je-gyu have teamed up as producers.

Speaking at the premier, Kang Je-gyu has praised Sun Hao for his directorial debut.

"I think the most important characters those new directors should have are determination and persistence. Director Sun Hao is already equipped with such characters. Though this film seems a little bit dark, you can still sense the cheerfulness in it. Sun Hao has the potential to direct more types of films."Though the leading actor Chen Bolin did not show at the premier, he sent a video message to congratulate those involved in the film on its opening.

The film features an adventure of a Chinese primary school teacher in Busan, who comes across a mysterious lady that later gets him involved into a local crime.

Previously, the film has unveiled its Chinese theme song 'Cinderella', which is composed and sang by South Korea's popular rock band CNBLUE.

'Bad Guys Always Die' is set to hit big screens in China on this Friday.

One Direction Wins Big at AMAs, But Paris Takes SpotlightThe 43rd Annual American Music Awards has been held at the Microsoft Theater in L.A., with One Direction winning the top award.

The boy band performed "Perfect" at the event, and took home trophies for Favorite Pop/Rock Duo or Group, and Artist of the Year.

Taylor Swift, who is out of the country shooting a music video, was the top nominee with six nods.

She won song of the year for "Blank Space," favorite pop/rock album for "1989" and favorite artist - adult contemporary. She has lost favorite female pop/rock artist - to Ariana Grande.

Justin Bieber, who won best collaboration with Diplo and Skrillex, closed the night by dancing and singing "A Medley in the Rain."Diplo has elaborated on his collaboration with the controversial pop star during an interview at the red carpet.

"Fun. It was fun. He was professional. I mean we're like creative people. We were working together. It's not like we are meeting each other at a drag race or going to a boxing ring. We're literally there to create and we're all creative people so."The AMAs also showed support to France, as Celine Dion offered a special tribute performance.

Taking the stage late in the show, Celine was introduced on stage by actor and singer Jared Leto, before singing "Hymne A L'amour" in French.

Other live shows featured at the AMAs included a special "Star Wars: The Force Awakens" music performance.

Nicole Kidman and James McAvoy Win Evening Theatre AwardsNicole Kidman, Sir Ian McKellen, and James McAvoy are among the big names on the red carpet for this year's Evening Standard Theatre Awards held in London.

The 36-year-old McAvoy won the Best actor award for his performance in 'The Ruling Class'.

He talks about his excitement for even getting mentioned alongside his fellow nominees.

"Some incredible actors, Kenneth Cranham a really amazing actor, Simon, Fiennes, just some really amazing people. You know, just to get mentioned alongside them. Really nice, really, really nice to get nominated, to be on the same carpet and asking questions or answering question as these guy, it's nice."Oscar-winning actress Nicole Kidman has been named the Best Actress for her performance in the play 'Photograph'.

She says it was sad that her role as scientist Rosalin Franklin wrapped up in this three-month-run play.

"It was sad, I was crying in the curtain call both in the matinee and the evening performance because it's been an extraordinary three months and it's been obviously, you know. That's the thing about theatre, once it's done it's done and it's gone forever. So that's the beauty of it."Founded in 1955, the Evening Standard Theatre Awards are presented annually for outstanding achievements in London Theatre.

U2 Rescheduled Two Concerts in ParisLegendary rock band U2 have rescheduled two concerts in Paris, which were postponed due to the deadly attacks across the city earlier this month.

The band has published a statement on their official websites, saying they will head to Paris for two dates at the Accor Hotels Arena on December 6th and 7th.

Bono, the vocals and guitar, says "so much that was taken from Paris on the tragic night of November 13th is irreplaceable."Tickets for the 14 November performance will be valid for 6 December, with tickets for the 15 November gig valid for 7 December.　HBO, who had planned to televise the band's November performance, will broadcast the December 7th concert at 9pm Eastern Time.

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

Recapping our top stories this morning...

China and Malasyia vowing to increase bilateral trade and investment as Premier Li Keqiang wraps up his time there...

China vowing new all-out and multi-pronged efforts to lift millions of people out of poverty...

And the Belgian capital remaining on high alert as more arrests are made in connection with the deadly Paris attacks...

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.