And I'm Bob Jones, Welcome to the Beijing Hour, live from the Chinese capital... Coming up on the program this evening...

Observers are suggesting the new reform plans for the PLA should help streamline its structure.

Chinese authorities widening their probe into brokerage firms.

The Presidents of France and Russia agree to work more closely together in Syria.

In business... Hong Kong and mainland authorties ink a new deal connected to services trade.

In sports... England and Belgium set to do battle later tonight to start this year's David Cup Finals.

In entertainment.... another Chinese celebrity busted for drugs.

All of that is coming up in the next hour, but first, a reminder, there are several ways you can reach us at the Beijing Hour.

You can follow our weibo account at weibo.com/beijinghour.

On WeChat: search "beijinghour"Email us directly at [email protected].

Visit crienglish.com for the latest news and information from China Radio International.

TopXi urges breakthroughs in military structural reformAnchor:

A new series of plans have been announced by China's Central Military Commission to streamline the military command.

The details from CRI's Xie Cheng.

Reporter:

In line with the new planned structure, the CMC will take charge of the overall administration of the armed forces, the armed police, the militia and the reserve forces.

A general command center for land forces will be set up, enabling the CMC to directly administer and command various military departments.

The current regional military commands will be regrouped into new battle zone commands supervised by the CMC.

Currently, a majority of the Chinese troops, consisting of 850,000 ground forces, are deployed in seven military area commands headquartered in Shenyang, Beijing, Jinan, Nanjing, Guangzhou, Chengdu and Lanzhou.

The CMC, the top leadership organ of the Chinese military, exercises command and control over the seven military area commands, the Navy, the Air Force and the Second Artillery Corps through four general headquarters.

At a top military leadership meeting drawing to close Thursday in Beijing, Xi Jinping says the move to deepen defense and military reform is aimed at breaking down systematic, structural and policy barriers.

President Xi has also pledged to eradicate the "soil" of corruption in the military.

A new discipline inspection commission and an audit office will be established within the CMC.

China will also cut its troops levels by 300,000. Administrative and non-combat personnel in the military will be downsized.

The Chinese president's announcement comes more than two months after he vowed to downsize the nation's 2.3 million-member armed forces at the Victory Day parade on September 3rd of this year.

For CRI, I'm Xie ChengReform Aimed at More Professional TroopsAnchor:

A leading Chinese military observer is suggesting the new military reform plans announced this week by Xi Jinping should help streamline the management of the military to create a more organized structure.

CRI's Luo Wen has more.

Reporter:

Following a 3-day meeting among the top brass of the PLA this week, Chinese President Xi Jinping, who is also the head of the Central Military Commission, has announced a series of planned changes for the organizational structre of the Chinese military.

Among the changes will be the creation of separate commands for the separate military divisions, including the Army, the Navy, the Airforce and the Strategic Rocket forces.

A general command center for land forces is also being set up, while the current regional military commands will be regrouped into larger "theater" commands.

A three-tier command system is also being set up, with the Central Military Commission at the top, followed by the theater commands who will dictate orders to individual combat units.

And at the same time, the Central Military Commission will run a new administration system to cover various services for PLA troops, such as payments, pensions and other veterans services.

Zhao Xiaozhuo with Chinese Academy of Military Sciences says the moves should help clear-up a lot of the bureaucracy which exists within the PLA.

"These reforms are meant to adjust the constitution of the armed forces, as well as the composition of the personnel structure. In particular, the proportion of administrative personnel, as well as non-combat personnel, will be cut down. This will create more space for combat personnel. The reform plans also include plans to transform the soldiers into a more elite force."The current structure of the Chinese military takes its roots from the initial formation of the People's Republic in 1949.

Back then, the military was built-up with the distinct goal of repelling a large-scale invasion and taking part in a mechanized war.

That began changing in the mid 1980's when the Chinese military began upgrading its technology to deal with the realities of more modern warfare scenarios.

But Zhao Xiaozhuo with the Academy of Military Sciences says the organizational structure hasn't really kept up with the times.

"In recent years, China's armament and military science and technology has developed very quickly, as has the training for our soldiers. Yet, the organizational system is still relatively backward. The current system was developed basically in the 1980s and hasn't really changed over the past 30 years. However, the international situation, as well as the internal requirements in China for the armed forces has changed dramatically. So I think it makes sense to bring in reforms to the organizational structure of the military."Also among the reforms are plans to divest the military out of non-core areas.

While the military has been banned from commerical ventures in China since the late 1990's, the PLA does still have non-military components, including hospitals around the country which are for-profit ventures open to the public.

In announcing the planned changes, the Chinese Ministry of Defense says it also plans to provide more support to military personnel who may find themselves shuffled-out as a result of the reforms.

Chinese President Xi Jinping announced plans to cut 300-thousand from the PLA ranks during this year's event to mark the 70th anniversary of the end of World War II.

For CRI, I'm Luo Wen.

China's peace commitment unchanged after military overhaulThe Ministry of Defense says the plan to reorganize the current military command system will not affect the overall defense policy.

Defense Ministry spokesperson Yang Yujun says China's policy of maintaining a defensive military remains unchanged.

"China will always uphold the flag of peace, development and cooperation, and will always follow the defensive defense policy. The cut of 300,000 troops has again demonstrated China's resolve to pursue a path of peaceful development, and Chinese armed forces will always be a staunch force to safeguard world peace and regional stability."The Defense department says the move to streamline the Chinese military command structure is commensurate with its international standing and interests in security and development.

China stocks tumble most since summer slumpMarkets on the Chinese mainland ended the last trading day of the week notably lower as the country's securities regulator widened its probe on brokerages.

Stocks tumbled heavily in the afternoon session, with the benchmark Shanghai Composite Index nose-diving more than 4 percent.

Brokerages led the decline with CITIC Securities at one point hitting the daily drop limit of 10 percent.

This came after CITIC Securities and Guosen Securities announced Thursday that they are under investigation by the Securities Regulatory Commission.

The regulator said the two brokerages are being investigated for alleged violations of securities supervision and management regulations.

The brokerages said they would cooperate fully with the investigations, and that there would be no impact on their current operations.

It's also being reported that another brokerage giant Haitong Securities is also being investigated by the regulator.

Haitong's share trading was suspended on Friday morning.

At the close, the benchmark Shanghai Composite Index sank 5.5 percent.

The smaller Shenzhen index lost 6.3 percent.

The ChiNext Index of growth enterprises plummeted 6.5 percent.

Beijing Sets Population Ceiling at 23 MillionBeijing's municipal government has reiterated its determination to cap the city's population at 23 million by 2020 due to water scarcity and big city diseases such as traffic congestion.

Last year, the resident population of the capital was measured at 21.5 million, which is still on the rise as job seekers from other areas keep arriving.

Vice Mayor Li Shixiang explained how the upper limit was calculated.

"The figure of 23 million is set based on the bearing capacity of the city's water resources. Beijing is short of 1.5 billion cubic meters of water a year, which can be eased rather than fundamentally resolved by the south-north water transfer project."The water diversion project aims to supply a third of Beijing's water from resources found in China's humid south.

Li said the city would relocate industry to neighbouring regions.

New schools and hospitals are also on the agenda to help reduce the flow of non-Beijingers who seek medical treatment in the capital.

Beijing to adopt world's strictest emissions standardMunicipal authorities in Beijing have started soliciting public opinion about proposed new vehicle emission standards.

Under the proposal, which covers both passenger and industrial vehicles, Beijing's Environmental Protection Bureau is hoping to cut vehicle emissions by 30-percent in the next 7-years.

Phase-6 of the emission standards will require passenger vehicles to pump out 40-percent less exhaust in 2-years time.

Vehicles with larger motors, such as buses and industrial vehicles, are going to have to cut their emissions by 50-percent.

It's not been made clear how the authorities plan to make this happen, though its expected to include restrictions on which type of vehicles can be sold, as well as quality controls on the fuel sold at the pumps.

Smog is a major problem in Beijing, though steps are being taken to reduce the air-quality issues.

This has included moving or shutting down high-polluting industrial facilities, as well as incentives for people to purchase electric or hybrid vehicles.

Giant Panda Basi to Celebrate her 35th BirthdayGiant panda Basi, the oldest of its kind alive in the Chinese mainland, will celebrate her 35th birthday tomorrow in southeast China's Fuzhou City.

The city authority is holding a birthday party for the mascot of the Beijing Asian Games in 1990.

Chen Yucun is the director of Fuzhou Giant Panda Center.

"An age of 20 for giant pandas is equal to an age of 80 in human beings, the ratio is about one to four. So we can scientifically say Basi's age is equal to over 100 years old for a human."Basi is the first giant panda to be diagnosed with blood hypertension in the world.

She is in good health now as her breeder takes her blood pressure every day, gives her medication, and helps her do exercises.

The average age of pandas is 20, and the most long-lived, died at the age of 37.

Putin, Hollande agree to work more closely in fight against terrorism in SyriaAnchor:

The Presidents of France and Russia have agreed to increase cooperation in the fight against the Islamic State in Syria.

However, the two remain divided over the future role of Syrian President Bashar al-Assad.

CRI's Li Jianhua has more.

Reporter:

Francois Hollande and Vladmir Putin, meeting in Moscow, have agreed to increase intelligence sharing, intensify their airstrikes against the Islamic State in Syria, as well as coordinate on which targets to select when launching strikes.

Russia's stated military mandate when it entered into the Syrian conflict at the start of September on behalf of the Syrian government was to eliminate -quote- "terrorists."This is a term the Syrian government has used to describe both the Islamic State and opposition forces which are fighting to try to overthrow his administration.

Following his meeting with Hollande, Putin has suggested there is room to moderate what the term "terrorist" means.

"There are I think other forces that speak of their readiness to fight against terrorism. We are now trying to build a relationship with them, with some we have already built that, and as I have already repeatedly said we will be ready to support and their forces too in the fight against ISIS and other terrorist organizations the same as we support the army of Assad."Differences, however, remain between the two leaders over the future of Bashar al-Assad.

"I think that the fate of the President of Syria should lie entirely in the hands of the Syrian people."Russia has maintained a long-standing relationship with the Assad administration, going back to the days of the former Soviet Union, when Bashar's father Hafez authorized the creation of a Soviet Naval facility in Syria.

Russia still maintains the facility at Tartus, which is Russia's only remaining port in the Mediterranean.

However, French President Francois Hollande has allied his administration with the US position that political change is needed in Syria to bring the fighting to an end.

"I believe that we must respect the following principle, if we want to ensure a political transition. The executive power should be entrusted to an independent government of national unity, during the time of transition. This transition will have to achieve a constitution, and elections including all the communities as well as the members of the diaspora. And regarding France, it is clear that Bashar (Al-Assad) doesn't have a place in the future of Syria."At the same time, Hollande has also been unable to convince Putin to create a so-called "grand coalition" to fight the Islamic State in Syria.

Hollande has been pressing Putin and other leaders in Europe to work jointly in Syria, something Putin has been unwilling to do.

Putin has also used his meeting with Hollande to blast France's NATO ally Turkey for not offering an apology for downing a Russian fighter jet this week.

Their 90-minute discussion has also included French support for the investigation into the downing of a Russian passenger jet in Egypt at the end of October which killed all 224 people onboard.

The Islamic State has claimed responsibility for the bombing.

The two leaders have also agreed meet again on the sidelines of the United Nations Climate Change Conference in Paris set to get underway next week.

For CRI, this is Li Jianhua.

Turkish President refuses to apologise for Russian warplane incidentRhetoric between Turkey and Russia is heating up in the wake of Tuesday's downing of a Russian fighter jet by the Turkish airforce.

In the latest salvo, the Russian side is now accusing Turkey of purchasing oil from the Islamic State in Syria.

Turkish President Recep Tayyip Erdogan is flatly denying the allegation, saying he's willing to put his political livelyhood on the line.

"Russian authorities shouldn't have made such remarks. We would never sell or purchase (oil) from terrorist organizations. They should prove this. The moment they prove it, Tayyip Erdogan will not remain in this post. But those who disseminate this slander, will they be willing to leave their posts as well?"It's being suggested the Russian government is trying to stir up dissent in Turkey toward Erdogan's presidency as a response to the downing of the Russian jet.

Russian President Vladimir Putin is moving to rebuff the suggestion.

"And now, about the resignation of the Turkish president. It is absolutely not our business. It is the decision of the Turkish people. We have never interfered in this and we will never interfere in it. It is very sad that the unprecedented level of our interstate relations that was reached with Turkey over the past years, over the past 10 years, has collapsed."Ties between Russia and Turkey, strong political and economic allies at the start of the 21st century, have hit a low point over the conflict in Syria.

Turkey is among those which has been calling for the ouster of Syrian President Bashar al-Assad, while Russia continues to support Damascus.

Erdogan has gone on-record saying they may have acted differently if it knew it was a Russian jet its airforce was targeting on Tuesday.

However, Putin has branded the incident as a "stab in the back" by "accomplices of terrorists."His government has since begun blocking food shipments from Turkey, and has issued a travel advisory for Russians planning to travel to Turkey for a vacation, which was poised to benefit from the cancellation of Russian tourist trips to Egypt in the wake of the Russian airliner bombing.

Cameron calls for more cooperation to deal with terrorist attacksUK Prime Minister David Cameron, speaking in Vienna, has called for more cooperation in border security and data sharing to crack down on terrorist attacks.

Earlier, during a speech in the British parliament, Cameron expressed the view that it was high time Britain joined air strikes against Islamic State in Syria, saying Britain couldn't "subcontract its security to other countries.""As members of the global coalition against ISIL (Islamic State), both the UK and Austria are committed to defeating these terrorists in Iraq and Syria. And as I said in parliament this morning, this must be part of a comprehensive strategy to bring the civil war in Syria to an end. And of course, the international talks, which Austria has hosted here in Vienna, are an absolutely vital part of that."In addition, Cameron also spoke about the refugee crisis, saying Europe needed "a comprehensive approach that tackles the problem at the source".

He called for more work with Turkey which is hosting more Syrian refugees than any other country.

Vienna is currently hosting international Syria peace talks, which started in late October.

North and South Korea to Hold High-level Talk Next MonthThe two Koreas have announced plans to hold a senior level meeting next month.

The vice-ministerial-level talks are set to take place in the North Korean border city of Kaesong on December 11th.

Jeong Joon-hee is with the South Korean Ministry of Unification.

"With vice-ministers as head representatives, we agreed to form a pool of representatives according to how we both see fit. We set a convenient agenda for the meeting to discuss pending issues related to the improvement of South Korea-North Korea relations."Details of what the two sides are expected to talk about have not been made public.

The high-level talks will be the first in some 8-years, should they go ahead.

Talks between the two sides were set to take place in 2013, but were cancelled at the last minute for yet unknown reasons.

This round of talks comes after the two sides traded fire earlier this year following a land mine explosion that maimed two South Korean soldiers patrolling the South's side of the Demilitarized Zone.

North and South Korea are still technically in a state of war, as the 1953 armistice which ended the fighting in the Korean War never resulted in a peace treaty.

Global Warming brings challenges to ecosystem in the ArciticAnchor:

With the 2015 UN climate change conference a few days away, experts are saying global warming has jeopardized the ecosystem of the Arctic.

CRI's Wang Mengzhen has more.

Reporter:

Northeast Arctic cod, usually found in the Barents Seas, have been traveling up to the archipelago of Svalbard for the past three years.

Off the coast of Longyearbyen, a Norwegian city located just 1,300 kilometers from the North Pole, scientists are trying to figure out the impact the non-native fish species' appearance will have.

Professor Ole Arve Misund, once a fisherman and now marine biologist from the University Centre in Svalbard, is one of them.

"We are trying here to catch a Northeast Arctic Cod that we have seen on our echo-sounder. I had one just touching my gear now but it slipped away. So we know they are here, and they are coming because the water is warm enough for them to be here to feed."Within just five minutes, Misund quickly gets his first catch of the day, which would not have been the case a decade ago.

Northeast Arctic Cod is a predatory species and one of the largest cod stocks in the world. In recent years, an increasing proportion of the mature cod has been caught north of the traditional spawning area.

Professor Misund suggests that the warmer climate has led to the cods' migration northwards.

"The last three years, we have had them (Northeast Arctic Cod) every autumn. They were recorded here before to a varying degree, but because of the warmer waters in recent years, we now see them every season. The waters are heating, and they are now so warm - 3 to 4 degrees celsius - and it's possible for species that normally live further south to come all this way to feed."Warmer waters in the Arctic ocean, on one hand, help these fish grow faster. But on the other hand, it could make fish more prone to infection from sea lice and other diseases, while causing more severe storms.

Professor Misund says the northeast Arctic cod could destroy the hibitat of local fish as well as the Arctic's ecosystem.

"They are, of course, reducing the number of Polar Cod. They are eating them of course. But they are mainly feeding on krill and basic organisms. So of course they are making an impact on the other fauna, but I mean - that's the way nature is."Unlike northeast Arctic cod, polar Cod exists in the region all year around, and is an important food source for seabirds, seals and whales.

The large reduction of its stock could harm the food chain, thus destroying the fragile balance of the ecosystem.

However, for local residents relying on planes to ship in fresh food, more cod in the fjord turns out to be a bonus.

Lars Frode Stangeland is a local skipper.

"The locals, of course they feel happy, they get cod and there is more and more fishing every year. So we get a lot of cod and haddock."The World Meteorological Organization has warned that the earth's wild weather this year is breaking annual temperature records due to man-made global warming.

As such, the international community is waiting to see whether global leaders can keep their promise of keeping global warming within 2 degrees Celsius above the pre-industrial level, at the forthcoming Paris Climate Conference.

For CRI, I am Wang Mengzhen.

US Shoppers Get Started their Holiday ShoppingThe day following Thanksgiving in the United States has become known as Black Friday, and is now regarded as the beginning of the Christmas shopping frenzy in the US. Most major retailers open very early on the day and offer a host of bargains.

This year, the retail giant Toys "R" Us opened their doors on Thursday afternoon, getting the shopping mayhem off to an early start.

Here's one shopper who braved the cold for to get some early Christmas gifts.

"I'm actually running around looking for all the gifts on my list in the paper before they run out. Got it? Got my Spiderman, now I'm off to go get my Teenage Mutant Ninja Turtles headphones."Unlike China's Double 11 Shopping Spree, Black Friday keeps shoppers in bricks and mortar stores rather than taking them online.

"Yes it was worth coming out to get my stuff, versus sitting in front of the computer, because you can't get this online, you really have to come in the store to get it. But I was happy I did."It's estimated that over 135 million American consumers will hit the shops over the weekend.

Meanwhile, Chinese shoppers have gradually been drawn into the US shopping festival, thanks to the increasing number of overseas shopping agencies and online payment services.

White House on Lockdown After Man Jumps FenceThe US presidents Thanksgiving Day celebrations were interrupted by a man draped in an American flag who climbed over the fence into the grounds of the White House, prompting a security scare.

The man was immediately caught and taken into custody pending charges.

A witness to the incident, Victoria Pena, described what she saw.

"I just heard him take a big, deep breath and whisper to himself, like 'alright, let's do this.' And he took off, he jumped over the barricade, and then climbed the fence and once he went over, he kind of lifted his arms up."She said security personnel and guard dogs ran towards the man as he lay on the grass waiting for them.

The fence lines at the White House were temporarily closed.

Armed security personnel were seen in the streets and on sidewalks outside the mansion in the hours following the incident.

WeatherBeijing will be hazy tonight with a low of minus 6, tomorrow will be cloudy and hazy, with a high of 2.

Shanghai will be cloudy tonight with a low of 3, tomorrow will be overcast, high of 12.

Chongqing will have slight rain with a low of 11, tomorrow will be rainy, high of 13.

Lhasa will be overcast with a low of minus 3, tomorrow will be cloudy with a high of 13.

Elsewhere in Asia,Islamabad will be sunny with a high of 24.

Kabul, cloudy, 10.

Down in the Southern Hemisphere.

Sydney, slight rain, high of 26,Brisbane,slight rain,28,Perth, cloudy, 31,And finally Auckland, New Zealand will have slight rain with a high of 20 degrees Celsius.

Headline newsChina's peace commitment unchanged after military overhaulThe Chinese military has reiterated its commitment to safeguarding world peace and regional stability after the announcement of an overhaul.

A spokesman for the National Defense Ministry said on Friday that China's plan to reorganize its military administration structure and command system, will not affect the country's defense policy, which is "defensive in nature".

President Xi Jinping, in his role of chairman of the Central Military Commission, announced on Thursday that all China's armed forces will be supervised and controlled by the top military organ, the Central Military Commission.

The current regional military commands will be regrouped into new battle zone commands under the commission.

Colombian drug smuggler sentenced to death in China repatriatedA Colombian citizen sentenced to death for smuggling drugs into China has been returned to his country.

He has since become the first Colombian convict in an international drug smuggling case to be repatriated from China.

He will spend 19 years in jail, in accordance with the agreement based on which his repatriation was made possible.

According to local media, there are still 130 Colombians imprisoned in China, most of whom face the death penalty for drug smuggling, according to Chinese law.

Russia strikes rebel-bound weapons on Syrian-Turkish borderRussian warplanes have launched the second raid in 24 hours on a weapons convoy heading from Turkey to rebels in Syria.

The Russian fighter jets attacked the convoy on Thursday at a border crossing between Turkey and Syria's northern province of Aleppo.

Local media reported that the crossing is under the control of the Ahrar al-Sham Movement, a Turkey-backed militant group.

Russia has intensified air strikes on Syrian opposition forces near the Turkish border, following Turkey's downing of a Russian warplane. earlier in the week.

The move has reportedly enabled Syrian government forces to advance against the insurgents in many areas.

British air strikes against IS in Syria to make Britain safer: CameronPrime Minister David Cameron says British air strikes against Islamic State targets in Syria will make his country safer.

Cameron made the remarks while addressing the lower house of the British Parliament on Thursday.

The Prime Minister said launching air strikes against IS militants in Syria would not make Britain a bigger target for terrorist attacks.

He urged British lawmakers to back his proposal of taking military action in the war-torn country.

The Labour Party, Britain's largest opposition party, was split over British military involvement in Syria, with its leader Jeremy Corbyn and some senior members in his shadow cabinet taking opposing views.

5.5-magnitude earthquake jolts western MyanmarA moderate earthquake has rattled part of Myanmar this afternoon.

The 5.5-magnitude quake hit in the northern part of the Irrawady River region around 2pm local time.

The epicenter is about 50-kilometers from the city of Monywa, which is home to around 180-thousand people.

It hit at a relatively shallow depth of around 20-kilometers, which will have created strong shaking near the epicenter.

So far no damage or injuries have been reported.

Biz ReportsAsian StocksAnchor:

Time to check today's business news, starting with the closing numbers in other Asian markets outside of the Chinese mainland.

In Hong Kong, the benchmark Heng Seng Index retreated 1.8 percent.

In Japan, Tokyo shares ended the trading Friday slightly lower as investors tried to lock in recent gains amid the sentiment of lacking clear trading cues.

Decliners were led by air transport, utilities, and pulp and paper issues.

The benchmark Nikkei edged down 0.3 percent.

South Korea's KOSPI dipped a fraction of a percent.

Singapore's Straights Times index inched down 0.9 percent.

And finally,Australia's ASX/200 sank 0.2 percent.

Hong Kong and mainland signed new pact in service tradeAnchor:

Authorities in both Hong Kong and the mainland say they've "basically achieved" full liberalization of trade in services following the signing of a new pact this Friday morning.

CRI's Hong Kong correspondent Li Jing has the story.

Report:

Finance officials from both sides have signed the Agreement on Trade in Services under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement.

A previous agreement the Special Administrative Region signed last year with neighboring Guangdong province will now be expanded to the entire country, which allows almost all local services to enjoy preferential treatment, such as legal, accounting, banking, telecommunications, culture and entertainment.

John Tsang is Hong Kong's Financial Secretary.

"In general, 153 sectors in the mainland have had fully or partially opened up to Hong Kong's services industry, accounting for 95.6% of all the World Trade Organization services trade sectors. In respect of the mode of "commercial presence", national treatment will be applied to Hong Kong in 62 sectors. The simplified measures will make it easier for Hong Kong companies to open up businesses in the mainland."At the same time, China's Vice Minister of Commerce Wang Shouwen has specified that any preferential treatment the mainland accords to other countries or regions would be extended to Hong Kong if it is more preferential than CEPA.

"The mainland has a huge market with great development in terms of service industry, while Hong Kong is very competitive in this regard. So the new agreement would put Hong Kong at an advantage."Hong Kong SAR deputy to the National People's Congress Prof. Priscilla Lau says it brings along great opportunities to Hong Kong professionals, especially in the financial sector.

"93 percent of our GDP is in the service sector. If we want to strengthen our link with the mainland, it is necessary to have liberalization of the service sector. We have a lot of financial products in RMB. If we want to have RMB to go international, to become convertible and be accepted by international financial sector, it is important to expand our business within the mainland."She also mentions that Hong Kong could play a key role in raising capital, boosting trade and services to implement "One Belt, One Road" initiative put forward by the Central Government.

The new pact will be effective from June next year,CEPA was first signed in 2003, aiming to open up the mainland market to Hong Kong companies by removing tariffs and investment restrictions while promoting mutual recognition of professional qualifications.

For CRI, this is Li Jing in Hong Kong.

China's industrial profit decline widens in OctoberOfficial data shows the profits of China's major industrial firms fell 4.6 percent year on year in October, worsening from the 0.1-percent decline posted in September.

The National Bureau of Statistics attributes the decline to dropping sales and rising costs, as well as narrowing profits in the mining and raw material sectors.

Despite the decline, industries favored by China's restructuring policies saw growth in their profits last month.

Profits in the high-tech manufacturing sector rose some 14 percent in October year on year.

While the equipment manufacturing sector expanded 8.6 percent and sectors related to consumption rose 4.3 percent.

The same set of data also shows state-owned industrial companies saw their profits plummet 25 percent in the first 10 months.

While private firms saw their profits rise 6.2 percent in the same period.

Baidu, Allianz to Launch Online Insurance JVChina's Internet search giant Baidu and German insurer Allianz have reached an agreement to set up an online insurance joint venture in China.

The new venture, named Bai'an Insurance, is planning to apply for a nationwide license to sell insurance policies online.

The new company is still waiting for regulatory approval to start operation.

It is expected to offer coverage for travel, e-commerce, Internet finance, short-term health, lifestyle and potentially motor insurance in the future.

Venture capital firm Hillhouse Capital has also invested in Bai'an Insurance.

However, the three companies have not revealed the stake each will hold in the new company.

The deal followed an online banking venture that Baidu formed with Citic Group earlier this month.

Philippe Blatter to lead China's Wanda SportOn the corporate front,Dalian Wanda has announced the hiring of its new Sports division CEO.

Philippe Blatter will be taking take the reigns of the Wanda Sports.

Blatter, nephew of embattled former FIFA President Sepp Blatter, had been the CEO of Infront Sports & Media, which Wanda purchased earlier this year.

Wanda Sports is combining Infront's operations with the World Triathlon Corporation, which Wanda also bought earlier this year.

Dalian Wanda chief Wang Jianlin, a big sports fan, has been directing his company toward sports revenues amid the slowdown of the Chinese property market.

On top of Wanda's purchase of Infront and the Iron Man triathon, Wanda has also purchased a 20-percent stake in Spanish football club Atletico Madrid.

The creation of Wanda Sports follows on the heels of Alibaba setting up a sports division of its own, which has since purchased a 50-pecent stake in Asian Champions League winners Guangzhou Evergrande.

China's Lufax Plans IPO of Up to $5 Billion: ReportIt's being reported that China's peer-to-peer lender Lufax is planning to file an IPO in Hong Kong next year.

Shanghai Lujiazui International Financial Asset Exchange Company, the Internet financial arm of Ping An Insurance, is reportedly expected to seek IPO status next May or June.

The report also says that Lufax is expected to raise up to 5 billion U.S. dollars through the IPO.

Lufax is said to have tapped Morgan Stanley and Goldman Sachs to arrange for the IPO preparation.

By the end of the third quarter Lufax had 15 million registered users.

The company says its transaction volume hit some 926 billion yuan in the first three quarters, up 900 percent year on year.

Credit Suisse JV Wins Regulatory Approval to Operate in ChinaChina's securities regulator has given the nod to allow a joint venture involving Credit Suisse to conduct brokerage business in China.

Credit Suisse Founder Securities will be allowed to provide brokerage services in Qianhai, the special economic zone in Shenzhen.

The joint venture was established in 2008, with Credit Suisse holding a one-third stake in the JV.

Chinese-run Founder Securities holds the rest.

This is the first time Chinese authorities have approved a brokerage license involving a foreign player since officially opening up the securities industry to overseas companies in 2007.

Prior to the approval, Credit Suisse was only allowed to offer services such as sponsoring and underwriting stock and bond issues.

SportsCaroline Wozniacki Beat Serena Williams to Win Energi Denmark Champions BattleIn tennis,The Davis Cup final between Britain and Belgium is set to get underway later tonight.

British youngster Kyle Edmund will be making his debut in the final against Belgium's David Goffin in the opening singles match.

Andy Murray will then take on Ruben Bemelmans.

"I'm looking forward to it. I know it's going to be a tough weekend, but I believe in all of the team and I hope we can play well."Murray will also team up with his brother Jamie in the doubles competition.

The last time Britain won the Davis Cup was in 1936.

-------------------On the women's side,Denmark's Caroline Wozniacki has scored a major victory on home turf, downing world number-1 Serena Williams in straight sets to win the Energi Denmark Champions event in Denmark.

It's only the 2nd time Wozniacki has managed to beat Serena Williams.

Wozniacki, a former world number-1, is now ranked 17th on the WTA, while Williams remains first.

Williams came into the event in Demark after sitting out the WTA Finals in Singapore to allow herself to recover from a series of nagging injuries.

Williams will be looking for her 22nd Grand Slam title in January at the Australian Open.

Panthers Stay Perfect, Romo InjuredIn the NFL,The Carolina Panthers remain perfect on the season, moving to 11-0 after 33-14 Thanksgiving victory over the Dallas Cowboys.

The Panthers capitalized on an outing Cowboy's quarterback Tony Romo would soon forget.

Carolina's defense ran 2 of 3 Romo interceptions back for touchdowns.

On top of that, Romo, who had just returned to the Dallas line-up, is likely gone for the season after injuring his collarbone once again.

"I knew that it would take a little bit of time but some of the decisions - poor decisions - that I made were just uncharacteristic and just very frustrating and cost our team today. They put us in a big hole and you can't do that against good football teams. And I am just disappointed that I wasn't able to play better."The 35-year-old broke his collarbone in Week 2 and missed 7 games.

The loss for the defending NFC East champions moves Dallas to 3-8 on the season.

---The other games today saw the Detroit Lions embarass the Philadelphia Eagles 45-14.

And it was the Chicago Bears spoiling Brett Farve day as they edged the Green Bay Packers 17-13.

Green Bay honored former quarterback Brett Favre at halftime, adding his name and Number-4 the franchise's five other retired numbers on the north facade of Lambeau Field.

Basketball: Xinjiang looks to extend unbeaten streak at homeA quiet day on the North American front when it comes to sports action, with both the National Hockey League and the NBA taking the day off on Thursday for American Thanksgiving.

However, there is basketball action taking place tonight here in China.

Round 10 of the CBA season is underway tonight.

Among the full slate of games, its Xinjiang looking to go to a perfect 10-0 on the season as the Flying Tigers entertain Jilin.

--Foshan is going to be hard-pressed to earn its first victory of the season as they play host to the 7-2 Guangsha Lions.

--3-6 Bayi may want to consider fishing with dynamite tonight if they hope to stun the 8-1 Sichuan Blue Whales.

--The Guangdong Souther Tigers, coming off a 44-point performance from Yi Jianlian on Wednesday, are at home to Fujian.

--Jiangsu Tongxi is on the road in Shenzhen.

--Beijing Beikong is in Zhejiang to take on Chouzhou.

--Shanghai is at home to the Jiangsu Dragons.

--Shanxi is in Qingdao.

--A pair of 6-3 clubs are doing battle, with Shandong at home to Liaoning.

--And Stephon Marbury and the Beijing Ducks are at home tonight to next-door rivals Tianjin.

Tottenham Hotspur Beat Qarabag 1-0 in Europa LeagueIn football action from the Europa League,It was Tottenham Hotspur edging Azebaijani side Qarabag 1-0 earlier today.

Harry Kane with his 9th goal in his last 6 games to secure the victory for the English side.

Hotspur manager Mauricio Pocchettino.

"It was a difficult game because Qarabag are a very good team. I think it's the first time this season that they lose a game at home. And for that (reason), it is a very important result for us. I think that we are very happy. We are very pleased with the performance. Massive effort. And now we are happy because we are sure of the next round."With the win, Hotspur have booked a place in the knockout rounds of the Europa League tournament.

----------In other action,Ajax sank a last-ditch killer to beat Celtic 2-1 and send the Scottish side crashing out of the tournament.

------Liverpool has progressed into the knock-outs from top of Group B with a 2-1 win over Bordeaux.

------And it was Dortmund going down to FK Krasnodar 1-0.

Othe winners on the day included Sporting Lisbon, Napoli, Schalke 04 and Sparta Prague.

----------In English Premier League action this weekend,Five games on deck tomorrow,Stoke is on the road against Sunderland.

Stoke manager Mark Hughes.

"Last time out against Southampton we were excellent and arguably should have won by more. So if we play as well as we did against Southampton we'll cause Sunderland a problem."In other action tomorrow,Aston Villa will play at home against Watford.

Everton are on the road against Bournemouth.

Crystal Palace will be up against Newcastle.

And it's Manchester City taking on Southampton.

Guo'an, Manzano terminate contractIn off-pitch football news,Beijing Guo'an manager Gregorio Manzano has confirmed he will not be at the helm of the Chinese Super League team next season.

Manzano has issued a statement through his Weibo account, saying he's reached an agreement with Guo'an to end his contract a year early.

Details of his buyout were not disclosed.

Manzano's position as Guo'an head coach has been in doubt since the end of season after Guo'an ended up in 4th in the Super League, keeping the club out of the AFC Champions League.

Manzano took over Guo'an in February of last year, and ended up earning Coach of the Year honors in the Super League.

Guo'an reportedly has a short-list to replace him, though the candidates have not been announced.

He Bingjiao Advances at Macau OpenIn badminton,China's He Bingjiao has booked a place in the semi-finals of the Macau Open.

The 18-year-old is through to the final-4 after dumping a Japanese opponent in straight sets.

China's Chen Yufei wasn't so lucky, after she went down to India's P.V. Sindhu in a three set affair.

-----------In men's singles,Second seeded Tian Houwei of China is looking to claim his first tournament of the year in Macau.

The 23-year-old is taking on a South Korean player tonight for a shot at the Men's Singles semi-finals.

He went down to Malaysia's Lee Chong-Wei in the final of Hong Kong Open this past Sunday.

Tian Houwei is taking part in the tournament in Macau this weekend as he won't be making the trip this coming week to Dubai for the Super Series Finals.

Despite finishing among the top-8 in the Super Series this year, the 23-year old has been left out of the season-ending tournament, as only 2 players from each country can be represented in each event at Dubai.

World number-1 Chen Long and Olympic Champion Lin Dan will be China's representatives in Dubai in Men's Singles.

China's Xiang Yanmei Gets Three Golds at World Weightlifting ChampionshipsIn weightlifting,Chinese lifters continue striking gold at the World Championships in Houston, Texas.

Xiang Yanmei has taken all three medals in the women's 69-kilogram finals, opening with a snatch lift of 120 kilos, then following with a clean and jerk of 143 kilos for a winning total of 263.

However, she insists she could have been better.

"Although I claimed all 3 titles, I'm not that satisfied with the results. My performance isn't what had been hoping for. I think I could have lifted over 270 kilograms in total. So I'm going to resume my training and push for a better result in the Rio Olympics."Xiang Yanmei is the 2nd Chinese lifter to win three gold medals at this year's championships.

EntertainmentMao Ning arrested for drug offencesChinese singer Mao Ning, was arrested this morning by Beijing police for drug offences, according to the Beijing News.

Further details of the arrest have not been revealed.

The mobile number of the singer's agent has been unobtainable since the news broke.

The 47-year-old performer was one of the hottest singers during the 90s in China.

He is best known for the song "Billows are as of old" and several love duets with the then popular female singer Yang Yuying.

Mao chose to quit while he was at the top of his singing career, but made a come-back in 2012 with a new album.

The case is the latest addition in a series of such incidents involving top entertainers in China this year.

Earlier this month, another singer Yin Xiangjie was also arrested for drug offences.

Matt Damon talks about "The Martian" in BeijingAs we heard in the show yesterday "The Martian", Hollywood science-fiction blockbuster, is now in Chinese theaters.

Leading actor Matt Damon has been talking more about his role in the movie in an interview in Beijing.

Damon said it is funny to play another role under similar circumstances, after playing an astronaut stranded alone on a foreign planet in "Interstellar".

"I think the character in Interstellar was pretty desperate, but yeah it's interesting they are both in the same situation. They handle it very differently. And the movies are very, very different obviously. But it was funny that I actually have two parts that I did back to back where the characters were in strikingly similar circumstances."Talking about film production, Damon said the movie stemmed from the idea of not giving up hope and elicits thinking about the value of life and sacrifice.

"You know, one of the reasons we wanted to make the movie was that very message and what is the value of one life, and what is the value of sacrifice for others. And it has got a wonderful message about that, I mean, what the rest of the crew sacrifices to come back and try to rescue Mark. It's a really great story about coming together and how nobody loses that hope".

The film has gained huge success at the box office since its release, pulling in over 487 million US dollars worldwide.

It has become director Ridley Scott's highest-grossing film to date.

'The Assassin' named best film of 2015 by BFIThe British Film Institute (BFI) have just announced international film magazine Sight and Sound's best films of 2015, and Hou Hsiao Hsien's "The Assassin" has come in at the top of the list.

The unconventional martial-arts film topped the poll that was voted for by 168 UK and international film critics.

Hou Hsiao-hsien picked up the best director award at the Cannes Film Festival earlier this year for the film, and critical praise for it has as lavish as the film's gorgeous cinematography.

Set during the Tang Dynasty (AD618–907), it is perhaps the closest anyone has yet come to capturing something of the historical atmosphere of that ancient time on film.

Todd Haynes' film "Carol" came in at number two with two female leads played by Rooney Mara and Cate Blanchett;George Miller's "Mad Max: Fury Road" in at the third spot, where Charlize Theron's character took the spotlight away from the titular Max.

Brit Awards: Jack Garratt wins Critics' Choice prizeMulti-instrumentalist Jack Garratt has been awarded the Brits 'Critics' Choice prize' for 2016.

The 24-year-old said he was "humbled" to receive the honour, which is open only to new artists who will release their first album next year.

The 2015 winner was James Bay, who scored the biggest-selling debut of the year with 'Chaos and the Calm'.

Garratt beat competition from soul diva Izzy Bizu and piano-based songwriter Frances to take the prize.

WeatherBeijing will be hazy tonight with a low of minus 6, tomorrow will be cloudy and hazy, with a high of 2.

Shanghai will be cloudy tonight with a low of 3, tomorrow will be overcast, high of 12.

Chongqing will have slight rain with a low of 11, tomorrow will be rainy, high of 13.

Lhasa will be overcast with a low of minus 3, tomorrow will be cloudy with a high of 13.

Elsewhere in Asia,Islamabad will be sunny with a high of 24.

Kabul, cloudy, 10.

Down in the Southern Hemisphere.

Sydney, slight rain, high of 26,Brisbane,slight rain,28,Perth, cloudy, 31,And finally Auckland, New Zealand will have slight rain with a high of 20 degrees Celsius.

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

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

Chinese authorities say planned changes to the military structure in China won't affect this country's military policies.

On behalf of co-host Bob Jones and rest of the Beijing Hour team, this is Paul James in Beijing, hoping you'll join us for the next edition of the Beijing Hour, to open a window to the world together...