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

Coming up on the program...

The Chinese president will deliver a keynote speech at the upcoming World Internet Conference in Wuzhen...

a new shorter draft agreement has been released at the Paris climate talks...

and the US Defense Secretary says more help is available for retaking Ramadi from Islamic State militants...

In Business...new rules are being developed for initial public offerings in China...

In Sports...badminton's BWF Super Series in Dubai is now underway...

And in Entertainment...nominations for the Screen Actors Guild Awards have been announced...

All of that coming up in the next hour.

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Top News2nd World Internet Conference to be held in east China's WuzhenThe 2015 World Internet Conference will be held next week in eastern China.

President Xi Jinping will deliver a keynote speech at the opening ceremony of the conference in Zhejiang.

More than 2,000 representatives will be gathering in Wuzhen for three days of meetings between the 16th and 18th.

These include the prime ministers of Russia, Pakistan, and Kazakhstan, among others.

According to Lu Wei, Director of the Cyberspace Administration of China, the conference will cover dozens of topics, including Internet cultural transmission, Internet innovation and development, digital economy cooperation, Internet technology standards, and cyber space management.

"The conference includes 10 forums where 22 hot topics such as Internet cultural communication, Internet innovation, digital economic cooperation, Internet technology standard, and Internet governance will be discussed. An Internet-themed exposition will be held during the conference to showcase the advanced technologies and latest development of Internet both at home and abroad."The theme of the conference this year is 'An Interconnected World Shared and Governed by All -- Building a Cyberspace Community of Shared Destiny.'

While briefing reporters about the upcoming conference, director Lu Wei also defended his department's role in Internet management.

The official notes that China adheres to opening up to the outside world, but foreign companies' business activities should abide by China's laws and regulations.

"We are to administer the internet and enhance the cyberspace administration according to law, and we also open up according to law. China's opening door will never be closed. We are open to all the internet enterprises in the world. As long as you do no harm to China's national interest and Chinese consumers' interest, you are welcome to develop in China."The first WIC was held in Wuzhen in November last year.

China willing to see U.S. play positive role in Afghan peace processChina says it is willing to see the United States play a "positive and constructive" role in Afghanistan's peace process.

Chinese Foreign Minister Wang Yi made the remarks at a 2+2 meeting of Afghanistan, Pakistan, China and the United States on the sidelines of the ongoing fifth foreign ministers' conference of the Istanbul Process on Afghanistan.

During the meeting, China, the U.S., and Pakistan expressed willingness to work with Afghanistan to bring peace and reconciliation to the country.

Afghan Foreign Minister Salahuddin Rabbani says he hopes to see some positive results.

"Peace and reconciliation process was one of the main items discussed in today's meetings and certainly all of the countries in the region, particularly our allies - in this case US and China and of course Pakistan have expressed their willingness to work with Afghanistan on peace and reconciliation process and we very much hope that this effort will result in a result-oriented peace process where we will see some positive moves in the coming weeks."In a meeting with the Afghani and Pakistani leaders prior to the 2+2 meeting, Wang called on Pakistan and Afghanistan to cast away past resentment, improve relations, and build mutual trust.

Both countries share a border with Afghanistan and cooperation is seen as essential to ending the Taliban insurgency.

While the meeting was underway, Afghan security forces struggled against a Taliban attack at the airport in the southern city of Kandahar. The attack began on Tuesday evening and lasted until Wednesday afternoon.

At least 37 people were killed.

New draft comes out ahead of climate deal deadline in ParisAnchor:

Negotiators at the climate talks in Paris have released a new, shorter draft of an international accord to fight global warming.

The draft removes many previous questions, but some leaders and analysts say it leaves several key issues unresolved.

CRI reporter Guo Yan has the details.

Reporter:

French Foreign Minister Laurent Fabius, presiding over the conference, told delegates that some progress has been made, but there is still a lot of work to be done.

"The new text, including a core agreement and accompanying decisions, runs 29 pages, much shorter than the 43-page version that countries reached last Saturday. It's a clean version, with three quarters of the brackets having been removed from the text, though there are still too many brackets left."According to Fabius, the major issues that remain to be resolved include post-2020 climate finance, and how to reflect the principle of "common but differentiated responsibility" in all elements of the new agreement.

China's special envoy on climate change Xie Zhenhua says the Chinese delegation is analyzing the new text and will consult with its partners.

"There are three minister-level problems left to be resolved. They are the divergence, capital and working force. The solution to these three problems depends on the degree of the commitment of all the countries, and they can make different choices. We hope to see further communication. The conference will be a success if the three problems are solved."Jake Schmidt, the director of the International Program at the Natural Resources Defense Council, says the draft agreement removes many previous questions, but leaders are still faced with deciding whether it's going to be a foundational agreement.

"I think what they have done is sort of cut out a lot of the fat. This is getting much more down to what are the real critical issues. There are still a number of options that ministers have to make over the next 48 hours and they are on some of the really big issues that are going to determine whether or not this is a watered down agreement or if this is a foundational agreement the world should stand up and applaud."Tense negotiations are going on among leaders as the Climate change conference in Paris draws near its conclusion on Friday.

For CRI, I'm Guo Yan.

Red alert cuts Beijing emissions by 30 pctA red alert for pollution in Beijing is expected to be lifted later today, as lingering dense smog is expected to be cleared by an incoming cold front.

The red alert, which took effect Tuesday, led to restrictions on car use and limited construction and industrial activities in the Chinese capital.

At least two million private cars have been taken off the road in Beijing.

The Ministry of Environmental Protection says these measures have helped to cut emissions in Beijing by 30 percent.

Coal-powered winter heating systems are seen as a big cause of the smog that blights north China around this time of year.

Under the red alert, schools have been closed, work at outdoor construction sites suspended, and factories have been ordered to halt operations.

The red alert - the most serious warning on a four-tier system adopted in 2013 - means authorities have forecast more than three consecutive days of severe smog.

China Asks ROK to Clarify on Warning Shots at Chinese BoatChinese authorities are asking for clarification from South Korea following an incident in Tuesday when warning shots were fired near a Chinese patrol boat.

Chinese Foreign Ministry spokeswoman Hua Chunying:

"We are concerned about the situation. The Chinese embassy in South Korea has communicated with the South Korean side and has demanded clarification of the report."Hua also urges the South Korean side to ensure the safety of Chinese citizens and ships.

A statement from the South's Joint Chiefs of Staff said Tuesday its navy fired warning shots to an initially unidentified vessel that allegedly crossed territorial waters.

There are no reports of casualties.

Reform meeting tables healthcare, environmental, hukou proposalsSenior Chinese officials have tabled proposals ranging from healthcare reform to central management of national parks at a major government meeting, chaired by Chinese President Xi Jinping.

The officials have approved plans to merge China's two medical insurance schemes for urban and rural residents in a bid to guarantee equal access to basic healthcare.

They have also called for the creation of a "multi-layered medical security net" integrating basic medical insurance, insurance for major diseases, medical assistance, commercial medical insurance and charity funds.

At the same time, unregistered citizens have been promised household registration permits, also known as "hukou," a crucial document entitling them to social welfare.

The meeting has also proposed running a pilot project in Sanjiangyuan Nature Reserve, a region considered the cradle of the Yangtze, Yellow and Lancang rivers in Qinghai, with a view to creating centrally-controlled national parks.

China to Further Boost International Cooperation on Anti-Corruption campaign: OfficialsAnchor:

Political observers are hailing the effort that the Chinese government has made in its fight against corruption, while suggesting that more international cooperation is key to the capture of economic fugitives who have fled abroad.

The 12th International Anti-Corruption Day was marked on Wednesday.

CRI's Xie Cheng reports.

Reporter:

A series of actions have been taken in China to fight against corruption, and observers say they have made much progress.

Earlier this year, China launched an anti-corruption campaign called 'Skynet', a move designed to capture corrupt officials accused of economic crimes having fled overseas.

As of the end of November, over 800 such fugitives have been brought back, with 1.2 billion yuan, or over 180 million U.S. dollars recovered.

Among those captured, 18 of them are also on a 'red-notice' list published during the 'Skynet' campaign detailing 100 most wanted corrupt fugitives still at large.

One of the most recent cases involved Huang Yurong, a former local official suspected of bribery in central China's Henan Province.

Huang surrendered herself to the police and returned voluntarily last week after being at large in the U.S. for 13 years.

Deng Zhaofeng, an official from China's Ministry of Public Security, said an increasing number of countries have actively cooperated and pledged to provide no harbor for such fugitives.

"We take several measures like extradition, repatriation, persuasion for suspects to return to China so as to seize overseas economic crimes suspects. So far, we have repatriated two escaped suspects from the United States, and extradited six from Italy, Greece, Bulgaria, Spain and Hungary. "Li Chengyan, Director of Research Center for Government Integrity Building at Peking University, believed that the achievements can provide reference and experience for further deepening cooperation and creating cooperative avenues between China and other countries.

"We will unceasingly enhance research on international cooperation during manhunts in the future, and discuss carefully and conscientiously the implementation of relevant laws as well as the United Nations Convention against Corruption. All those will lay a solid foundation for our next operations."China has concluded more than 30 extradition and 50 criminal judicial assistance treaties with other countries.

Liu Jianchao, deputy head of China's National Bureau of Corruption Prevention says the country cannot stay out of the cooperative efforts of anti-corruption and has been playing a significant role in the global anti-corruption campaign.

"First, we have strengthened bilateral exchanges with other countries. We also signed memorandums with more than 20 countries and more are willing to sign with us. Second, we have been active in participating in multilateral mechanisms, forums and conferences to discuss international cooperation against corruption. Third, China is also playing an active role in the broader anti-corruption field."In 2014, the Beijing Declaration on Fighting Corruption was passed at the APEC meeting held in Beijing. The first international anti-corruption initiative drafted by China.

The APEC members adopted the declaration to fight corruption through extradition, judicial assistance and more flexible legal measures. An informal network was also set up for sharing information among anti-corruption and law enforcement authorities in the Asia-Pacific region, based in Beijing.

For CRI, I'm Xie Cheng.

China's Highest Court Upholds Death Sentence in Fudan Poisoning CaseChina's Supreme People's Court has made a final verdict on a widely-discussed poisoning case in which a college student was sentenced to death for murdering his roommate.

The Court on Wednesday upheld the student's death sentence.

Lin Senhao, a medical student at the prestigious Fudan University in Shanghai, dropped a deadly chemical into a water dispenser in the dormitory he shared with the deceased.

His roommate, Huang Yang, drank from the dispenser on April 1, 2013 and died of organ failure days later.

The case has drawn wide public attention and prompted questions about the moral quality and education of Chinese youth.

National Railway's Test Become Intellectual Challenge: Ticket BuyersAnchorTrain users in China are complaining about the online booking system, saying the newly-updated image Captcha system has turned the ticket-buying process into an intellectual challenge.

CRI's Niu Honglin has details.

ReporterWith the Spring Festival Holiday right around the corner, huge numbers of people are already going online, booking train tickets for the most important vacation of the year. However, the recently updated image Captcha system on 12306.com, china's one and only official online ticket selling platform - seems to be giving everybody a hard time, as the questions are too difficult.

It's been reported that only 8 percent of users pass the test on their first try and 27 percent get it right on the second time.

The image recognition test is required both when logging in and when buying the tickets. Most users say they've lost their desired ticket after taking too long to pass the test while others complain it is annoying how difficult the questions are.

"I've got it wrong so many times. After I finally pass the test, the ticket I want is sold out.""The picture looks like neither turtle nor trionyx. It is a waste of time for me to try figuring out which pictures are what!"The test requests users to find certain item, sometimes more than one, from listed photos. What makes it difficult is that it usually requires users to distinguish between very similar items, such as oranges and tangerines or between a bus card and a credit card.

Also, some of the pictures contain objects that simply aren't common anymore - kerosene lamps, sewing machines, and typewriters - and many users, especially younger ones, are not at all familiar with these antiques.

While the website allows users to keep trying until they pass, if one fails too many times, the system will automatically upgrade into harder mode.

According to a customer service telephone operator of China Railway, the new system is designed to prevent auto logins or malicious purchasing by machines.

"We've been using a picture recognition system since early this year, as it is a very effective tool to stop ticket scalpers and software from purchasing large number of tickets and reselling them at a higher price to make a profit."He adds that some software can identify simple verification, which they used before, 1,000 times per second while the new system has no such problem so far.

It is estimated that people will make 2 billion or more trips during the Spring Festival period, and predicting that around 30 million of those trips will be made by train.

For CRI, I'm Niu Honglin.

Pentagon chief says U.S. ready to offer more help to retake RamadiThe US Defense Secretary says the Pentagon is ready to offer more assistance to the Iraqi government to retake Ramadi from Islamic State militants.

Ashton Carter has suggested more personnel and attack helicopters can be sent to help the Iraqi side retake the strategically important city from the IS group.

"After a frustratingly long time, we are starting to see some movement in the operation to recapture Ramadi. Over the past several months, the coalition has provided specialized training and equipment - including combat engineering techniques like in-stride breaching and bulldozing, and munitions like AT-4 shoulder-fired missiles to stop truck bombs - to the Iraqi Army and counter-terrorism service units that are now beginning to enter Ramadi neighborhoods from multiple directions."Ramadi was overrun by militants in May, triggering and unusual display of anger from Carter who accused the Iraqis of lacking the "will to fight."Carter has reaffirmed the stance from the White House that significant numbers of ground forces will not be sent to Iraq.

President Barack Obama announced in October that about 50 special forces ops would be sent to Iraq, and earlier this month about 100 more were confirmed for deployment.

San Bernardino shooters radicalized at least two years ago: FBI directorFBI Director James Comey said both shooters of San Bernardino carnage were radicalized long before they started online dating.

The revelation appeared to contradict an early theory which claimed that Tashfeen Malik, 27, the female shooter, may have converted her husband Syed Farook, a 28-year-old U.S. citizen, to an extremist ideology.

Malik is believed to move from Pakistan to the United States in 2014 and married Farook.

The couple gunned down 14 people and injured 21 more at a holiday party held at a southern California social services center on Dec. 2.

Investigators so far had not determined whether the shooters' start of communications was arranged by any group or developed on its own.

3rd Paris Terror Attacker Identified: French OfficialsFrench officials have announced that the 3rd attacker who targeted Paris' Bataclan concert hall has been identified.

Foued Mohamed-Aggad is a Frenchman who left for Syria 2 years ago. He is believed to have carried out a suicide bombing outside the concert hall.

Mourad Fares, another Frenchman believed to have recruited Mohamed-Aggad, is now charged with terror-related offenses and faces trial.

French Prime Minister Manuel Valls says Mohamed-Aggad's identification marks another sign of progress in the investigation.

"What is important is that the investigation is progressing, that the accomplices are found out, that arrests happen. This will all take time and in the face of the terrorist threat that is unfortunately here, we need to carry on with this work of tracking down terrorists."All of the attackers identified so far have been from France or Belgium, native French speakers who joined Islamic State extremists in Syria.

The terror attack in Paris killed 130 people, with nearly three-quarters of the victims found in the concert venue.

U.S. authority to address visa policy for security concernsAnchor:

Lawmakers in the U.S. are discussing ways to improve security after the terrorist attacks in Paris and San Bernardino.

The U.S. House of Representatives has voted overwhelmingly to ban people from participating in the Visa Waiver Program if they have visited 'high risk countries' in the past five years.

Ellen Scott reports from Washington.

Reporter:

Inspired by the recent terror attacks across the globe - US lawmakers are stepping up security efforts. They're starting by taking a closer look at the visa waiver program.

The focus is on preventing dangerous extremists from entering the country....even it that means stepping away from the being a historically open and welcoming nation.

The current waiver program allows visa-free entry into the U-S for citizens of 38 countries - including most of Europe.

The U.S. Congress hopes to pass new legislation that would address the vulnerabilities and weaknesses of the program.

"I do think the legislation past yesterday and passed by this committee strikes a right balance between taking what has already been a successful security program and improving it with the current threat environment."The U.S. House of Representatives has already passed a bill would require passport holders of the 38 countries participating visa waiver program to obtain a visa if they recently visited a country with terrorist activity - including Iraq, Iran, Syria or Sudan.

It would require the 38 countries to check travelers against Interpol databases.

Nations who don't share this data could be dropped from participating.

The Former Director of the Visa Waiver Program - Marc Fry said the program needs some other improvements.

"You need to change the name. A lot of the problems with the visa waiver program have to do with misunderstandings. (cut to) Fundamentally Visa Waiver sounds like we are waiving security requirements when we are precisely doing the opposite of that."Some are voicing concerns that the changes would discourage humanitarian activity or journalism from occurring in these countries.

John Wagner of the US Department of Homeland Security says some exceptions should be made.

"I think we would look for some flexibility in those cases. Look at the person’s purpose or intent to that region"But there are downsides and opposition to the visa waiver program changes. The enhancements would be logistically challenging and expensive. The travel industry could take a hit if these stricter rules and screening procedures were put into place. And European officials have also voiced concerns.

And the process is complicated on Capitol Hill. The Senate is continuing discussions with its own version of the bill... and it hasn't been scheduled for a vote yet.

For CRI, I'm Ellen Scott.

Angela Merkel Named Time's Person of the YearGerman Chancellor Angela Merkel has been named Time's Person of the Year.

The leader was praised by the magazine for her leadership on everything from Syrian refugees to the Greek debt crisis.

Time Magazine Deputy Managing Editor Radhika Jones.

"She has steered Europe through serial debt crises. She has been a chief negotiator with Vladimir Putin over Ukraine, but this year, most prominently for us, she led the way on Europe's policy towards refugees and migrants from Syria and other troubled parts of the world and has set an example of moral leadership that we wanted to spotlight."IS Group leader Abu Bakr al-Baghdadi, described by Time as a 'brooding muezzin of death', was second on the list.

Radhika Jones, Time Magazine Deputy Managing Editor, explains:

"You will find in our Person of the Year package this year Abu Bakr al-Baghdadi, the leader of ISIS, obviously very much in the news this year for tragic reasons and very much on our minds going forward."The six other finalists for 2015 included US presidential hopeful Donald Trump, the Black Lives Matter protest movement, Caitlyn Jenner and Uber's CEO Travis Kalanick.

Thousands Migrants Removed from Greece-Macedonia BorderGreek police have rounded up 2,300 migrants who had been stranded for three weeks at the border with Macedonia and transported them to Athens, dashing their hopes of seeking asylum in northern Europe.

The migrants have been given 30 days to leave the country but are not in detention.

If they are caught in Greece after the deadline expires, they will be arrested and deported.

Hundreds of thousands of people have streamed into Europe this year.

Balkan states began blocking passage last month to all but Syrians, Iraqis and Afghans, who are considered as refugees because they are fleeing war zones.

Macedonia has erected a metal fence to keep unwanted migrants out and plans to extend it to cover more than 40 km of the border.

Turkey has vowed to do more to stop the flow of migrants after signing a deal with the European Union in November.

WeatherBeijing, smog to sunny today with a high of 7 degrees Celsius.

Overnight temperatures should drop down to -3.

Shanghai will see moderate rain with a high of 13 and a low of 11.

In Chongqing, it will be cloudy with a high of 16 and lows of 13.

Elsewhere in the world, staying here in Asia,Islamabad will see small rain, temperature drops to 15.

Kabul will see sleet with a high of 2.

Over to North America,New York will be cloudy with a high of 16 degrees.

Washington, cloudy with a high of 18 degrees.

Honolulu, small rain, 29.

Toronto will be slightly rainy with a high of 10 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 34.

And Rio de Janeiro will be overcast with a high of 33 degrees Celsius.

Headline NewsChina willing to see U.S. play positive role in Afghan peace processChina says it is willing to see the United States play a "positive and constructive" role in Afghanistan's peace process.

Chinese Foreign Minister Wang Yi made the remarks at a 2+2 meeting of Afghanistan, Pakistan, China and the United States on the sidelines of the ongoing fifth foreign ministers' conference of the Istanbul Process on Afghanistan.

During the meeting, China, the U.S., and Pakistan expressed willingness to work with Afghanistan to bring peace and reconciliation to the country.

In a meeting with the Afghani and Pakistani leaders prior to the 2+2 meeting, Wang called on Pakistan and Afghanistan to cast away past resentment, improve relations, and build mutual trust.

Syrian rebels leave Homs under ceasefire dealSyrian rebels started evacuating their last stronghold in the city of Homs on Wednesday.

This was followed by a ceasefire deal reached recently between the government and rebels, supervised by the United Nations.

Under the new deal, some 2-thousand armed rebels are pulling out of a district in Homs, meaning the entire city will return to government control.

Homs is seen as a major battleground area on Syria's main north-south highway.

North Korea troupes arrive in China for performanceTwo traveling theater companies from North Korea have arrived in northeast China's Liaoning province for a performance this weekend.

The two troupes -- the State Merited Chorus and the Moranbong Band -- are set to stage performances at the National Centre for the Performing Arts in Beijing.

The shows will run from December 12th to 14th.

The State Merited Chorus is renowned for its revolutionary songs, while the Moranbong Band, founded in 2012 by North Korea leader Kim Jong Un, is a popular band among the ordinary people in that country.

China launches new communication satelliteChina has put a new communication satellite into orbit from the Xichang Satellite Launch Center.

The "ChinaSat 1C" satellite was launched early Thursday morning, and carried by a Long March-3B rocket.

It is expected to provide high-quality voice, data, and radio and TV transmission services.

The satellite was developed by the China Academy of Space Technology and is owned by China Satellite Communications Corporation.

Biz ReportsAnchor:

Turning to business news, starting with a quick look at the closing numbers across North America and Europe.

U.S. stocks were down on Wednesday.

The three major U.S. indexes fell as investors worried about slowing global economic growth and the first U.S. rate hike.

On other markets, gold futures on the COMEX division of the New York Mercantile Exchange rose Wednesday.

The most active gold contract for February delivery rose 0.1 percent.

Meanwhile, prices of crude oil settled lower after rising 4 percent as the market ignored a U.S. crude stockpile drawdown to focus on a build in distillates.

On the corporate front, Dow Chemical and DuPont were in talks to combine, which will be one of the largest transactions in the year.

Shares of the two companies jumped more than 10 percent in the early session Wednesday.

At the closing bell,Dow Jones dropped 0.4 percent.

S&P 500 fell 0.8 percent.

The Nasdaq dipped 1.5 percent.

In Europe, shares also closed lower.

UK's FTSE 100 shed 0.1 percent.

Germany's DAX moved down 0.8 percent.

France's CAC 40 decreased 1 percent.

China's cabinet pushes for registration-based stock listing reformsAnchor:

China is introducing a registration-based system for initial public offerings.

China Securities Regulatory Commission will roll out details and solicit public opinions within two years.

The regulator plans to shift IPO approval powers to the two main bourses, the Shanghai Composite and Shenzhen component indexes.

The new IPO system will emphasize information disclosure rather than corporate profitability and will let the market play a bigger role in determining share prices.

Under the new system, the securities regulator will also focus on supervision.

The draft plan still needs to be authorized by the country's legislature, as it involves adjustment of the current securities law.

More than 600 companies here in China had sought regulatory approval for their IPOs as of this Tuesday.

For more on the new IPO system, we are joined live on line with Cao Can, CRI's Financial Commentator.

Questions:

1. How would the new system affect the A-share market? Who do you think would benefit the most from it?

2. As for investors, what can they expect under the new system?

3. What other measures should also go along with the new system to ensure a stabilized market in the future?

Back anchor:

That was Cao Can, CRI's Financial Commentator.

Chinese companies may list renminbi shares on Frankfurt bourse in 2016Chinese firms may be able to list yuan-denominated shares on the Frankfurt bourse next year, allowing industry giants to access European investors.

The so-called D shares are expected to list on China Europe International Exchange, a joint venture between Deutsche Boerse AG, Shanghai Stock Exchange and China Financial Futures Exchange.

The platform has traded an average of 18 million yuan, or 3 million US dollars, a day since it opened last month.

It also plans to add more products next year, including single stocks such as depository receipts and possibly derivatives.

S. Korea, Australia and China agree to implement respective FTA on Dec. 20China and South Korea are set to implement the new bilateral free trade agreement on December 20.

Under the deal, Beijing and Seoul will eliminate tariffs on more than 90 percent of trade goods within 20 years.

South Korea expects the FTA with China to create over 50 thousand jobs and enhance consumer benefits by 15 billion U.S. dollars.

At the same time, China and Australia have also announced that their FTA will come into force on the same day.

The deal is expected to cut import tariffs on a wide range of products including agriculture and financial services which target the rising middle-class here in China.

China is Australia's largest agriculture export market valued at 8 billion Australian dollars last year, led by dairy and beef exports.

China to cut import tariffs on 800 productsChina has decided to cut import tariffs on nearly 800 items starting from January 1st.

The range of goods for which tariffs will be cut include fresh food, nuts, industrial materials, equipment, and consumer goods such as suitcases and clothing.

Import tariffs for skin care products are set to be cut from 6.5 percent to 2 percent, plastic and fabric suitcases from 20 to 10 percent, and air purifier from 15 percent to 5 percent.

Tariffs on industrial items will be cut to support economic upgrading by encouraging the imports of advanced technology and products.

China urges clearing up state-owned "zombie companies"China's cabinet has called for an elimination of centrally-administered state-owned enterprises that survive only on government bailouts.

The State Council proposes that such "zombie companies" should be closed or restructured by the end of 2017, in a drive to "markedly reduce" losses incurred by central SOEs.

Meanwhile, central SOEs that have been in the red for three consecutive years and that are not conforming to the official directive of industrial restructuring should have their assets realigned or property rights transferred.

Yahoo keeps Alibaba, but spins off core businessYahoo has shelved plans to spin off its stake in Chinese e-commerce giant Alibaba, under pressure from investors worried about billions of dollars in taxes.

The company says Yahoo is still looking at creating a separate company to hold the rest of its assets.

Shares of Yahoo, which will remain publicly traded, were down 3.7 percent on the Nasdaq.

The new publicly traded company will house Yahoo's Internet business and its 35 percent stake in Yahoo Japan, worth about 8.5 billion US dollars.

Analysts say the creation of a new entity will likely take Chief Executive Marissa Mayer's focus away from turning around the Internet business.

SportsBWF Dubai Super Series UpdateIn badminton news:

The BWF Super Series in Dubai is well underway as of Wednesday.

In the men's singles, world number one, Chen Long has advanced in his bracket.

China's Chen Long beat fellow countryman Tian Houwei in straight sets 21-13, 21-13, to advance to the next round.

After his game, Chen explained to the press about how he felt he was playing.

"Today I was playing against my compatriot (Tian Houwei) and I think both of us didn't play our best. And today was more like getting used to this place, this venue, and being prepared for the next match."As Chen continue's to familiarize himself with the venue, we can expect some great games.

In doubles, English pair Chris Adcock and Gabrielle Adcock advanced in their mixed bracket.

The badminton partners, who are also married, beat Tontowi Ahmad and Liliyana Natsir of Indonesia in three sets, 17-21, 21-11, 24-22.

"They came out very strong in the first set, we didn't quite stick to the plans, especially me in the first game. But in the second end of that we kind of got used to it and put us in good stead for second set. The second set was pretty much perfect from us. We were 20-17 up in the third and when they got to 20-all, it was quite frustrating but we managed to pull ourselves together, relaxed, stay calm and finish it off in the end."The two partners feel that their relationship has, and will continue to, benefit their game.

And for the Women's singles:

Saina Nehwal of India lost to Japan's Nozomi Okuhara with a 14-21, 6-21 in their opening match.

After the game, Nehwal spoke to the press about how she was feeling going into the tournament.

"I'm not really putting myself under any pressure. I know it's not easy with any player. You know (Nozomi) Okuhara was everywhere today and tomorrow Carolina (Marin) is a same kind of aggressive player, so it's not going to be easy for me. It's going to be very, very, very very tough I think. I'll just try my best and let's see how it goes".

Nehwal is currently playing while recovering from an injury.

Thursday she will face world number one, Carolina Marin.

And Thailand's Ratchook Intanon was another success story of the day.

The former champ had a little trouble in her match against South Korea's Sung Ji Hyun, but regardless, won with a 19-21, 23-21, 21-14.

CBA updateand for a CBA update:

Fans should look forward to tomorrow as the league will see many games being played:

For Friday, its gonna be:

Liaoning playing QingdaoGuangdong Southern will face Jiangsu NangangShandong is goin head to head with Jilin NortheastShenzen Yikan will play Zhejiang ChouzhouFujian will face Bayi FubangGuangdong Foshan is up against Shanxi ZhongyuThe Sichuan Blue Whales will play Shanghai DongfangA battle of the Beijings will see, North Control Beijing playing Beijing ShougangZhejiang Guangsha will clash with Tianjin Ronggangand finally,Xinjiang Guanghui is to play Jiangsu Tong XiAnd for the top standings, they are:

Xinjiang Guanghui in number 1 slot with 14 wins 1 loss2nd is Zhejiang Guangsha with 13 wins 2 lossesand 3rd is Guangdong Southern with 12 wins 3 lossesGolden State sets new record after beating Indiana Pacersand in some NBA news:

The golden state warriors are casually breaking records right an left.

The star team improved their win record to a 23-and-0 after beating the Indiana Pacers 131-to-123 on Tuesday.

In doing so, the warriors have set the record for most "on the road" wins in a regular season, with 13 victories.

Warrior's Gaurd Klay Thompson gave his team the edge they needed by scoring a season high 39 points.

Unfortunately for him, the high scoring came at a price when he rolled his ankle during the game.

Thompson spoke about the injury after the game.

"I just came down either hit the, I don't even know, hit the floor or somebody's foot and just rolled it. I'll be all right, it's just going to be sore for a couple of days but I should be back in no time."The defending NBA Champions have won 27 games consecutively now, dating back to last season.

If they stay on track, they are due to compete with the record of 33 wins set by the 1971-72 Lakers.

Loretta Lynch applauded in London for FIFA workIn some FIFA news:

US attorney General Loretta Lynch receives a round of applause at The Royal Institute of International Affairs in London on Wednesday for her work in trying to clean up the football organization.

Lynch gave a speech to all those in attendance.

"I think that with respect to FIFA, it's incumbent upon every country that participates in this great sport to be involved in FIFA's reform; to be involved in making sure that as FIFA goes forward and as they decide who is going to lead the organization and what particular principles they are going to put in place, that those individuals and those principles are committed to reform and to fair and honest play and to protecting the integrity of the sport"Lynch has been involved in uncovering FIFA corruption that has gone all the way to the top of the organization with investigations into its former president, Sepp Blatter.

As of now, candidates are running for the vacant position of FIFA president.

Many of their platforms are concerned with the reform of the organization.

EntertainmentSAG Awards TV nominations announcedThe nominations for next year's Screen Actors Guild Awards have been announced.

Political television drama "House of Cards" scored three nominations, including best drama ensemble, best male performance in a drama for Kevin Spacey and best female performance for Robin Wright.

Competing against "House of Cards" for best drama ensemble are "Downton Abbey," "Game of Thrones," "Homeland," and "Mad Men."Others to receive acting nods included "Orange Is the New Black" actress Uzo Aduba, Jim Parsons for "The Big Bang Theory," Jeffrey Tambor for "Transparent" and Jon Hamm for "Mad Men."Actress Sarah Silverman is also one of the contenders for her dramatic turn in "I Smile Back."Silverman said it was quite a shock.

"Yeah, I was shocked. I wasn't watching. My manager called me, sobbing. And I thought somebody had died. And then she told me. And yeah I was in shock. I try really hard in therapy to not let myself self-esteem be informed by outside forces."The Screen Actors Guild Awards honor the best film and television performances of the year.

The awards have also traditionally served as a helpful indicator of potential Oscar acting nominees.

The awards will be broadcast live in the U.S. on Jan. 30 from Los Angeles on TNT and TBS.

Benedict Cumberbatch to Star in World War II Epic 'The War Magician'

"Sherlock" actor Benedict Cumberbatch is once again going to play a genius, this time starring in a World War II drama.

Cumberbatch has given his nod to star in "The War Magician," portraying British hero Jasper Maskelyne, whose brilliant illusions helped the Allied forces fight the Nazis.

Maskelyne led "The Magic Gang" who used tricks to hide strategic targets such as Alexandria harbour near the Suez Canal, concealing 150-thousand men with 1,000 guns and tanks.

The British actor previously acted in another World War II drama "The Imitation Game" in which he played Alan Turing to crack the Enigma code.

He received an Oscar-nomination for best actor last year for the role, but lost to Eddie Redmayne.

Cumberbatch's own production company SunnyMarch will co-produce the film.

Gary Whitta, who worked on "Star Wars: Rogue One," is penning the script.

However, no director has been identified at the moment.

Replicas of China's Mogao Grottoes to visit the US in 2016A "Chinese Grottoes" cultural exhibition is going to be held in the United States next year.

Entitled "The Buddhist Art of the Silk Road of China," the exhibition will replicate the caves of the famed Mogao Grottoes in Dunhuang, Gansu province.

It will be the first time simulations of the caves will be fully displayed in the US.

The Mogao Caves are well known for their preservation of ancient Buddhist sculptures and artworks dating back thousands of years.

The Grottoes were listed as World Cultural Heritage sites in 1987.

Three caves from the 3rd to 9th centuries will be duplicated in full-size, and work on that project is to be completed by the end of the year.

The exhibition will be held at the Getty Center in Los Angeles from May to September.

Peking Opera 'Spring Banquet' to come in late DecemberNew Peking opera "Spring Banquet" has been scheduled to be staged at the end of this month.

Produced by the Beijing Peking Opera Theatre, the new play was adapted from well-known director and script writer Li Zhuoqun's "Romance Trilogy.""Spring Banquet" develops in three layers of time and space, telling different kinds of love stories, from love at first sight to supportive love during hard times.

The new opera will be staged on December 28th and 29th at the Chang'an Grand Theatre in Beijing.

WeatherBeijing, smog to sunny today with a high of 7 degrees Celsius.

Overnight temperatures should drop down to -3.

Shanghai will see moderate rain with a high of 13 and a low of 11.

In Chongqing, it will be cloudy with a high of 16 and lows of 13.

Elsewhere in the world, staying here in Asia,Islamabad will see small rain, temperature drops to 15.

Kabul will see sleet with a high of 2.

Over to North America,New York will be cloudy with a high of 16 degrees.

Washington, cloudy with a high of 18 degrees.

Honolulu, small rain, 29.

Toronto will be slightly rainy with a high of 10 degrees.

Finally, on to South America,Buenos Aires will be cloudy with a high of 34.

And Rio de Janeiro will be overcast with a high of 33 degrees Celsius.

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

Recapping our top stories this morning...

The Chinese president will deliver a keynote speech at the upcoming World Internet Conference in Wuzhen...

a new shorter draft agreement has been released at the Paris climate talks...

and the US Defense Secretary says more help is available for retaking Ramadi from Islamic State militants...

In Business...new rules are being developed for initial public offerings in China...

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