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

Coming up on the program...

The Chinese president's five proposals for the global development of the internet...

the US Fed hikes interest rates for the first time in seven years...

and the UN Secretary General says there is not a minute to waste when it comes to addressing the Syrian crisis...

In Business...China once again cuts its holdings of US Treasuries...

In Sports...Xinjiang holds its place at the top of the CBA standings...

And in Entertainment...fans react to Star Wars following advanced screenings in the Philippines...

All of that coming up in the next hour.

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Chinese President Calls for a Community of Shared Destiny in CyberspaceAnchor:

Chinese President Xi Jinping has urged all countries to jointly build a community of shared destiny in cyberspace.

He made the remarks while addressing the opening ceremony of the 2nd World Internet Conference in Wuzhen, a resort city in Zhejiang Province.

CRI's Xie Cheng reports.

Reporter:

In his speech, President Xi put forward 5 proposals to achieve the goal, such as speeding up the construction of a global cyber infrastructure and promoting inter-connectivity, building an online platform for cultural exchanges and mutual learning, promoting innovative development of cyberspace for common prosperity, maintaining cyber security and promoting its orderly development, and enhancing equity and justice in cyberspace.

"We should push forward the formulation of international cyberspace rules accepted by all parties and establish international conventions against terrorism in cyberspace, improve the legal assistance mechanism to fight cyber crimes and jointly uphold peace and security in cyberspace. All countries should step up communication and exchange, improve dialogue and consultation mechanisms on cyberspace, and study and formulate global Internet governance rules, so that the global Internet governance system becomes more fair and reasonable."In the meantime, President Xi also suggested an Internet governance system featuring a multilateral approach with multi-party participation, requiring all countries to adhere to 4 principles including respect for cyber sovereignty, maintenance of peace and security, promotion of openness and cooperation and cultivation of good order.

"We should respect the right of countries to participate in international cyberspace governance, their choice for the path of cyber development, as well as regulations and public policies. No country should pursue cyber hegemony, interfere in other nation's internal affairs, or engage in, connive at and support cyber activities undermining other countries' national security."He also called on the international community to strictly crack down on all types of cybercrime, since cyberspace is not a place beyond the rule of law.

Russian Prime Minister Dmitry Medvedev attended the event. He welcomed President Xi's proposals, and also suggested coordination in internet policies in a way that benefits the global society.

"We should take measures within the platform of the International Telecommunication Union under the UN. We could entitle it with powers such as making international protocols and coordinating other organizations."For his part, World Economic Forum's Chairman Klaus Schwab urged all countries to grasp the huge opportunities brought by the Internet.

"We want to make sure that the enormous potential of transformation could stimulate the economy, strengthen social inclusion and safeguard our environment. Everybody has to have access to the Internet to benefit from its enabling potential."In his speech, Chinese President Xi Jinping has also vowed to keep China's door open to the outside world and that the country's policies toward foreign investment will not change.

For CRI, I'm Xie Cheng.

Xi's keynote speech at world internet conference praised by manyAnchor:

President Xi Jinping's keynote speech on cyberspace development has been praised by guests at home and abroad who are attending the meeting.

CRI's reporter Guo Yan has the details.

Reporter:

President Xi has put forward five proposals in order to build a "community of shared future" in cyberspace. Major points include speeding up the construction of a global cyber infrastructure, promoting innovative development of cyberspace for common prosperity, and maintaining cyber security.

The World Economic Forum's Chairman Klaus Schwab echoed the proposal and urged all countries to grasp the huge opportunities brought by the Internet.

"We want to make sure that the enormous potential of transformation could stimulate the economy, strengthen social inclusion and safeguard our environment. Everybody has to have access to the Internet to benefit from its enabling potential."Wu Hongbo, is the United Nations (UN) Under-Secretary-General for Economic and Social Affairs.

"The president put forward five specific proposals and mentioned many issues widely discussed in the international community. In terms of internet governance, China's adherence to principles is recognized by the international community."Many manufacturers say they have confidence in the prospect of the combination of the internet and traditional industries, after hearing the president's speech.

Jack Ma, founder of Alibaba Group, says the proposal on innovation strategy and global internet governance impresses him.

"What impresses me most is that he mentioned innovation and a community of common destiny. The Internet is like interconnected and clean rivers in Wuzhen that require proper management by us. So the president, in his speech, for the first time systematically illustrated that Internet governance is a mission of all mankind."Some analysts say China's concept of cyberspace development will benefit the world as well.

Wu Hequan with the Chinese Academy of Engineering says China values global cyberspace development.

"There is no other state leader in China that has evaluated cyberspace development and given direction to it. China's internet field only cared about its own development in the past, and now it has opened to the outside world. Not only caring about its own development, it hopes to make progress together with the whole world."Meanwhile, expert says that China has clarified its position, role, and development goals on cyberspace development.

The three-day conference runs through Friday.

For CRI, I'm Guo YanCyber Security Forum in WuzhenAnchor:

Nearly 100 security experts and government officials have attended a Cyber Security Forum at the sideline of the World Internet Conference.

Our reporter Luo Bin has more.

Reporter:

"You think smart phones are a big thing, and impact society and governance? You haven't seen anything yet!"This comment is from Bruce McConnell, Senior Vice President at Eastwest Institute, at the Cyber Security forum in WuZhen.

In his eyes, the future of internet is full of opportunities.

"What i am talking about here is the smart connected devices. It's big part of President Xi's Internet Plus satragtage in which every piece of modern life will be part of the internet of things. Smart city, smart Wu Zhen, smart manufacturing, hospital optimization where patients are treated by systemed machines, driver-less vehicles, so it's many opportunities here. "However, as Fang Binxing (方滨兴) with the Chinese Academy of Engineering explains, there are risks that come with opportunities and new technologies.

"Take big data as an example. It is quite easy to get internet users' data, if you can combine the data from different channels. for example, if you combine the data publicized online by the US, the complaint messages from Walmart, and Facebook information, you will be able to determine that a specific user is American, 62 years old, and a widow. This is the security issue brought by big data."Cyber security is one of the most important issues at the World Internet Summit or WIC. As Chinese President Xi Jinping mentioned in his speech at the opening ceremony, cyber surveillance, cyber attacks and cyber terrorism have become a global scourge.

Paik Ji-ah, South Korea's Ambassador for International Security Affairs says a better effort is needed to guard security in cyberspace.

"We should first of all establish more effective and stronger partnership responding to cyber attacks and crimes. We should continue to make efforts to develop a global consensus of norms rules and principal. Thirdly, transparent and stabilize measures can improve cyber security by reducing the risk of escalation. "Experts say in terms of cooperation on cyber security, it is critical that every state steps up its effort on the regional, bilateral, and international levels.

For CRI, I am Luo Bin.

Internet Finance to Make a Difference in China's Finance DevelopmentAnchorInternet finance has become a hot topic at the ongoing World Internet Conference.

Experts and insiders say with the industry booming in China, the country's plan to modernize its financial services may have just entered a golden era.

CRI's Niu Honglin has more.

ReporterTechnology revolution and big data have helped online businesses boom in China.

With Tencent's third party mobile payment service being well received, and with Alipay going viral, more and more online businesses have entered the financial world, offering services such as peer-to-peer lending, crowdfunding, microfinance, and wealth management for small- and-micro businesses.

Wu Xiaoqiu, head of the Finance and Securities Institute of Renmin University of China, says Internet finance is currently playing a complementary role in the finance sector, helping the country's traditional financial services transformed to an inclusive mode.

"Internet finance is available to customers that traditional finance missed. Traditional finance used to serve big businesses and rich people, ignoring small and micro businesses. If a financial system just provides service to a specific population, then I don't think it is an efficient system. Therefore, Internet finance has transformed traditional finance to an inclusive finance system."Speaking at a forum at the Second World Internet Conference, he adds that the development of mobile Internet can make finance services cheaper, while big data can assist risk control.

According to the "2015 Annual Report on China's Internet Finance Development," third party mobile payment services quadrupled in size last year compared with 2013 to nearly six trillion yuan, while P2P lending has grown rapidly.

Xu Ming, Deputy President of Postal Savings Bank of China, says Internet finance provides an opportunity for the innovation of business models and transformation of banking services.

"Internet finance means more opportunities than challenges to traditional commercial banks because it brings inspiration to us. Traditional banks need to be transformed to improve service levels and capabilities. They also need to learn from Internet finance, which has a great advantage in customer experience, client coverage, and the application of big data."At the same time, since internet finance is still rather new in China, regulation systems are facing challenges adjusting to the finance industry's development.

Dong Dengxin, Head of the Financial and Security Research Institute, Wuhan University of Science and Technology, says only innovation and supervision can promote the healthy development of Internet finance.

"Innovation expands the supervision, making up loopholes in supervision. Many countries encourage innovation because only innovation can promote the development of supervision. Internet finance is a new industry and regulators don't have enough knowledge about it. Therefore they should give it mild tolerance and moderate space for innovation."According to Guo Qingping, vice-governor of the People's Bank of China, three pairs of relationships need to be taken care of for the Internet finance sector to further develop in the country.

One is the relationship between Internet finance and traditional finance. The second is to properly deal with innovation and risk control. And the third is the relationship between the government and the market.

For CRI, I'm Niu Honglin.

AIIB wins trust before its opening: AIIB president-designateThe president-designate of the Asian Infrastructure Investment Bank says the lender has earned trust on the international scene.

Jin Liqun made the remarks at the ongoing World Internet Conference, days ahead of the official opening of the new bank.

"When China launched this bank, everyone was concerned that it would be a target that others would attack us. But after two years' preparation, the doubt has been dispelled, because we take other countries' advice and discuss issues based on democracy in the preparation work. We do not boss around, and so we win the trust of others."He says the bank will be a lean and clean organization, as digital technology will be used in setting up its structure, helping to prevent corruption.

The bank has also taken measures to prevent illegal activities launched by terrorists and lawbreakers.

Currently the AIIB has 57 prospective founding countries and will have an authorized capital of 100 billion USD.

It will be officially up and running by the end of this year and its first board meeting will be held in mid-January.

China strongly opposes U.S. arms sale to TaiwanChina has summoned US diplomats in Beijing and made solemn representations to the United States over its arms sale to Taiwan.

This comes after the U.S. administration announced a 1.8-billion-U.S.-dollar arms package for the island.

China's Vice Foreign Minister Zheng Zeguang told Kaye Lee with the US Embassy that Beijing strongly opposes the decision.

Zheng says Taiwan is an inalienable part of China's territory, and the arms sale severely goes against international law.

The Chinese side also urged the United States to abide by the clear commitment it has made in previous joint communiques, to revoke the arms sale plan, and to stop military contact with Taiwan.

US Federal Reserve raises key interest rateThe US Federal Reserve has raised interest rates for the first time in seven years.

Federal Reserve Chair Janet Yellen says the decision reflects the committee's confidence that the economy will continue to strengthen.

"The Federal Open Market Committee decided to raise the target range for the federal funds rate by one-quarter percentage point, bring it to one-quarter to one-half percent. This action marks the end of an extraordinary seven year period during which the federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the Great Depression.

The US unemployment rate is at a robust five percent.

But in addition to maximizing employment, the Fed is responsible for maintaining stable prices.

Inflation remains below the Fed's two percent target.

Shortly after the announcement, Wells Fargo became the first bank to raise its prime rate, matching the Fed's quarter point increase to bring its rate to 3.50 percent.

Its move ends an extraordinary seven-year period of near-zero borrowing rates.

But the Fed's statement suggested that rates would remain historically low well into the future, saying it expects "only gradual increases."We will have more in-depth analysis on the interest rate increase later on in the business segment.

No single minute to waste in addressing Syrian conflict: Ban Ki-moonAnchorAddressing his year-end news conference, UN Secretary General Ban Ki-moon has said that there is not much time to waste in addressing the Syrian conflict.

Our UN correspondent Su Yi has more.

Reporter:

Ban Ki-moon has confirmed a new round of international talks on Syria is set to be held in New York on Friday. The meeting will be followed by a Security Council meeting on Syria on the same day.

The last meeting in Vienna set an ambitious deadline, asking UN mediator Staffan de Mistura to organize talks among the warring Syrian parties by Jan. 1.

Also, world and regional powers, including the US, Russia, and China have voiced support for establishing a credible, inclusive government in Syria within six months and holding free and fair elections within 18 months.

Ban says it is an ambitious target that must be pursued.

"Some people may think it is too ambitious. But one needs to be ambitious. We do not have much time to waste - even a single minute."Two rounds of international talks on Syria have been held already - in October and November in Vienna - seeking a roadmap to end the nearly five-year war in the country.

Ban Ki-moon is urging an early realization of a nationwide ceasefire in Syria.

"It is important that we should have a nationwide ceasefire as soon as possible. Of course there are certain areas controlled by ISIS, but as much as we can, we should expand this area to be covered by a ceasefire as wide as possible. For that possible, Stephen Misutrata will engage in intra-Syrian talks as soon as possible. Then we can expand the political space."The in conflict in Syria has killed 250-thousand people and forced 13 million from their homes.

The UN Chief also outlined major UN achievements during his wide-ranging press conference, including the latest international climate deal reached in Paris earlier this month.

"The Paris Agreement surpassed expectations. World leaders recognized that we could and must do better than settling for the lowest common denominator. So they reached higher. The Paris Agreement gives us Plan A for the planet – A for ambition."The Paris Agreement sets a target of holding the global average rise in temperature below 2 degrees Celsius above pre-industrial levels, and preferably below 1.5 degrees.

Other milestones Ban noted include the adoption of the 17-point 2030 Agenda for Sustainable Development, which is widely believed as the most important result of the events to commemorate the 70th anniversary of the UN.

For CRI, I'm Su Yi in New York.

Austria Arrest Two over Paris AttackAustrian authorities have arrested two men for possible links to last month's attacks in Paris that killed 130 people.

State Prosecutor Robert Holzleitner says the two were arrested during the weekend.

Holzleitner says the suspects arrived in Europe from the Middle East.

They are suspected of "participation in a terrorist organization."German Police Unveils New Police Unite to Deal with TerrorismGerman authorities have unveiled a new police unit that's been specially trained and armed to deal with terrorism.

Thomas de Maiziere, German interior minister, says security officials began reassessing the security situation in Germany after the attacks in Paris.

"The danger in Germany from international terrorism is high, as it is across Europe. It was high, it is high, and it will remain high for the foreseeable future. We have to adjust to this, and the security authorities need to prepare."250 officers will be added to the national police force's special arrest units, known as the BFE, based at five locations around the country.

US Defense Secretary visits BaghdadU.S. Defense Secretary Ashton Carter says Washington is "willing to do more" in the fight against Islamic State, offering accelerated support for Iraqi campaigns to recapture key cities under enemy control.

Carter made the comment in Baghdad after talks with Iraq's Prime Minister Haider al-Abadi.

"I had the opportunity to have very productive meeting with Prime Minister Abadi, and also separately, a meeting with the defense minister and discussed with them once again the desire of the United States and its other coalition partners to accelerate progress, the kind of progress that the Iraq forces are exhibiting in Ramadi."The fall of Ramadi, the capital of Anbar province, to the Islamic State in May was the biggest defeat for Iraq's central government in nearly a year, dampening its hopes of routing the group from the country's north and west.

The United States has said it is willing to deploy advisers and attack helicopters to help Iraq retake Ramadi, with plans announced earlier this month to deploy elite American military teams to Iraq.

Putin signs decree suspending free trade deal with Kiev from Jan. 1Russian President Vladimir Putin has signed a decree to suspend Russia's free trade deal with Ukraine.

The ban will start at the beginning of next year, the same day when Kiev's free trade regime with the European Union becomes effective.

A statement from Russia's legal information website says the decision was made in view of "extraordinary circumstances affecting the country's interests and economic security."Under the decree, Ukraine will no longer enjoy the most favored nation principle, as well as a host of preferential policies in areas of migration, customs, quarantine inspection, and investment.

The suspension comes following talks between Russia, Ukraine and the EU earlier this month, which failed to clinch any agreement.

Ukrainian President Petro Poroshenko is on record saying that his country is aware of the restriction and damage to its economy, but will not regret its European choice.

Turkey Rejects Russia's Compensation DemandTurkey has rejected a compensation demand from Moscow for the downing of a Russian fighter jet last month.

Turkish Foreign Ministry spokesman Tanju Bilgic also says that if Russia guaranteed that it wouldn't violate Turkish airspace, its planes would not be shot at.

"Our attitude towards Russia is clear and explicit: the Russian plane was downed by our planes because it violated Turkish airspace. We had warned the Russian side about this issue. That's why it isn't possible to cover the Russian request."The comment comes after Russian Deputy Foreign Minister said earlier this week that it still expected Ankara to apologize, pay compensation, and provide guarantees that the incident would never be repeated.

Moscow has been insisting its Su-24 fighter jet stayed over Syria during its flight.

The downing of the plane has strained ties between Turkey and Russia.

Turkish local media reported on Wednesday that Ankara had seized 27 Russian ships since last month.

Russia has also seized eight Turkish vessels in the Black Sea, and held five Turkish vessels for inspections in early December.

Iranian President Hails Decision on Closing Nuclear Probe by U.N. Nuclear AgencyIranian President Hassan Rouhani says his country will start implementing its international nuclear deal within a couple of weeks.

In welcoming the closure of the UN inspection of Iran's nuclear activities, Rouhani said the decision allows Iran to be more open with the world.

The International Atomic Energy Agency's Board of Governors passed a resolution on Wednesday, ending its long-disputed issue of so-called "possible military dimensions" to Iran's activities.

The probe had to be formally ended as part of the July 14 agreement, which will lift sanctions in return for Iran curbing its nuclear activities.

Headline NewsChina, Kyrgyzstan ink deals to cement pragmatic cooperationChina and Kyrgyzstan have signed a number of cooperative documents on finance, energy, and culture.

The deals were signed after talks between the prime ministers of the two countries on Wednesday.

Chinese Premier Li Keqiang also called for early resumption of talks on the China-Kyrgyzstan-Uzbekistan Railway project.

For his part, Kyrgyz Prime Minister Temir Sariyev encouraged more Chinese investment in transportation, energy, and social infrastructure.

Sariyev is paying an official visit to China after attending the Shanghai Cooperation Organization prime ministers' meeting in Zhengzhou.

China, UAE agree on driving license reciprocityChina and the United Arab Emirates will recognize the validity of driver's licenses issued by each other.

Under the agreement, the holder of a driver's license issued by either authority is eligible for obtaining a driving permit on the other side without additional training or testing.

The agreement was signed by China's Ministry of Public Security and the Ministry of Interior of the UAE.

It will go into effect in three months.

China has clinched a similar reciprocal agreement with Belgium.

China hands over Interpol's most wanted fugitive to S. KoreaChinese police handed a fugitive on Interpol's Most Wanted List to South Korea on Wednesday, at Nanjing airport in eastern China.

Fifty-four year-old Kang Taeyong is alleged to have extorted about 1.5 trillion won or 1.2 billion U.S. dollars from over 30 thousand people between 2007 and 2008.

Interpol then listed Kang as a most wanted fugitive, but the suspect was believed to have fled to China.

Kang was later arrested by police in Jiangsu province in October.

Back in 2013, China and South Korea reached a repatriation deal, aiming to collaborate on capturing and transferring suspects from both countries.

17 trapped after coal mine explodes in NE ChinaA coal mine explosion has trapped 17 people in northeast China's Hegang City in Heilongjiang Province.

The explosion happened at about 2:30 Wednesday afternoon.

50 people were working underground - 33 managed to escape.

Rescue work is still underway.

Japan: requiring same surname in marriage is legalJapan's Supreme Court has ruled that requiring married couples to have the same surname is constitutional.

The court ruling deals with an ongoing fight over gender equality in choosing names.

The law does not say which partner must give up his or her name in marriage.

In practice it has almost always been the woman who takes the husband's name.

Biz ReportsAnchor:

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

U.S. stocks rallied for the third straight day on Wednesday, as the U.S. Federal Reserve decided to raise interest rates for the first time in nearly a decade.

The U.S. dollar decreased against most major currencies on Wednesday.

The dollar index, which measures the greenback against six major peers, was down 0.3 percent in late trading.

Meanwhile, oil prices also plunged on Wednesday as U.S. crude stockpiles increased unexpectedly.

At the closing bell,Dow Jones jumped 1.3 percent.

Both the S&P 500 and the Nasdaq rose 1.5 percent.

In Europe, equities also increased on Wednesday.

The UK's FTSE 100 gained 0.7 percent.

Both Germany's DAX and France's CAC 40 moved up 0.2 percent.

Fed hikes rates for first time in 7 yearsAnd for more on the impact of the interest raise decision from the US Federal Reserve, we are joined live on line with Cao Can, CRI's Financial Commentator.

Talking Points:

1. Can you explain to our listeners the reasons behind the Fed's decision to raise rates by 25 basis points?

2. Markets have been expecting the raise for quite some time, but the Fed took a long time to make it happen. Why was it such a difficult decision?

3. How will the rake hike affect the U.S. and other developed markets?

4. What does it mean to emerging markets like China?

Back anchor:

That was Cao Can, CRI's Financial Commentator.

China cuts holdings of US treasuries in OctoberThe latest data from the US Treasury Department shows that China reduced its holdings of Treasury securities in October.

China cut its holdings by 3.2 billion US dollars in October, the second consecutive month for its holding reduction.

Its current holdings amount to 1.3 trillion dollars.

Japan also cut its holding by 28 billion dollars in October.

Tokyo's holdings now amount to 1.2 trillion dollars.

Overall, foreign holdings of US Treasury securities in October dropped to just over 6 trillion dollars compared to September, a change of about 100 billion dollars.

Companies in poor areas encouraged to get listed: CSRCChina is going to turn to the capital market to help finance businesses in poor areas.

The China Securities Regulatory Commission says companies in poor areas will be encouraged to get listed.

At the same time, rules for IPOs will also be relaxed for those companies.

For example, companies from western regions will receive favorable polices and expense deductions when applying for IPOs.

The expected capital inflow for the affected companies is expected to fund agricultural projects and support leading agricultural firms.

JD.com teams up with Yonghui to expand O2O businessJD.com, China's second largest e-commerce site, has rolled out a new service with Chinese supermarket chain Yonghui.

It will allow shoppers to order fresh food online and have it delivered to their homes within two hours.

Vice General Manager of JD's East China District, Peng Cheng, says Yonghui can provide them with high-quality products.

"The advantages of Yonghui in fresh foods and supply chain management are brought to the platform of JD.com. Meanwhile, we will use internet technologies to help Yonghui expand its offline business. So we can create an online and offline win-win solution. We will work together to expand the O2O retail model to help traditional retailers upgrade and transform their businesses."The manager adds that through the cooperation, JD.com is able to help Yonghui increase its revenue by around 15 percent.

The new service has received 300 orders within eight days of its launch, and has already increased the revenue of Yonghui by 8 percent.

The service is expected to be expanded across China in the near future.

China's UnionPay launches safer mobile payment serviceChina's largest payment network, China UnionPay, has launched a new mobile payment service QuickPass in cooperation with over 20 Chinese banks.

QuickPass aims to provide a more convenient and safer payment service for consumers across the country.

This is part of UnionPay's efforts to win back the market from China's fast-growing online third-party payment platforms.

One of the banks participating in the new service is the Bank of China.

A manager with the bank describes how Quickpass works.

"The model built by the Bank of China and China UnionPay is a four-party cooperation model among banks, China UnionPay, merchants and cardholders. We have also attracted a lot of resources from society, including telecommunications operators. This model is the mainstream and the safest payment model in the market."Regarding security concerns, the new mobile payment service is armed with multiple security features guaranteed by technologies including token technology and cloud verification.

Statistics show that the volume of mobile payment transactions in China more than doubled in 2014.

Among them, third-party payments accounted for 80 percent of the market transactions.

SportsXinjiang stay on top after beating GuangdongIn some CBA news:

League leaders Xinjiang gave powerhouse Guangdong a beat down of 108-100 in their well-matched 18th round game on Wednesday.

The visiting Guangdong had a five-point advantage at the opening stages of the game, but it would be Zhou Qi who would change that with a 9-0 run that took the lead.

Andrew Goudelock, a former L.A. Lakers player, sank five three-pointers in the second quarter for Xinjiang, which gave a 57-51 cushion as the first half ended.

Xinjiang extended its lead to 22 points in the third quarter thanks to the super play from Goudelock and fellow teammate,Andray Blatche, who scored a combined 62 points.

Guangdong would manage to close the score gap to six points, but in the end, Xinjiang would walk away with the victory.

Next up for Xinjiang will be Liaoning on the 18th.

Currently, Xinjiang is on top of the CBA league standings.

And in a quick recap of other recent games:

Qingdao beat Bayi 102-101 on Wednesday.

Foshan lost to Zhejiang 107-111, Guangsha smashed Jiangsu 107-84, Liaoning won over Jilin 111-106, Shandong swept Tongxi 115-96, Shanghai downed Aolong 106-85, defending champ's Beijing tamed Sichuan 119-106,River Plate advances in Club World Cupand in some club world cup news:

River Plate defeated Sanfrecce Hiroshima 1-0 in Osaka on Wednesday night.

The only point scored in the game came from Lucas Alario in the 72nd minute.

Head coach Marcelo Gallardo said his team felt an enormous amount of pressure to defeat the Japanese J-League champions.

"It's a very satisfying feeling to make it to the final match. We felt a huge responsibility and were under an enormous amount of pressure. But the team and our supporters have been dreaming of making the final and we deserve to be here. We are always going to be presented with difficult challenges, but accept this."With this win, the South American team will advance to the finals of the Club World Cup.

River Plate will face either Barcelona or Guangzhou Evergrande, depending on which team wins in their match on Thursday.

and in other Club World Cup games:

Club America beat TP Mazembe 2-1 in their play-off on Wednesday.

The game saw the Mexican club team take the lead early on in the first half.

Mazembe would try to close the gap before the end of them game, but would only score 1 goal.

With the win, Club America sits at fifth place in the tournament standings.

Olympians attend Speedo's product showcaseIn the world of competitive swimming:

Top swimmers from around the world got together ahead of the Rio games for the unveiling of Speedo's new product line in New York on Tuesday.

The event showcased Speedos new Fastskin LZR Racer X suit, cap and goggles.

In attendance at the event were 24 athletes with a total of 78 Olympic medals and 17 world records.

During the event, these athletes spoke to SNTV about how they are preparing for the upcoming Rio games.

American Olympian Missy Franklin told SNTV that the biggest motivation for her in the games is being a good role model to others.

"But it's all about being an inspiration. For me that's the biggest goal no matter what is to be the biggest inspiration that I can be. And swimming gives me that platform and I'm so grateful. And because of what happened in London I've had so many opportunities since then to really create that platform and really want to be and hopefully be a role model for young athletes, for young girls out there."At 17 years old, Franklin competed in the Olympic Games in London.

From those games she would win 4 gold medals in swimming titles.

The Rio 2016 Olympic Games are set to kick off on August 5th.

Platini not to attend FIFA hearingIn some FIFA news:

Suspended UEFA President Michel Platini has decided not to attend his hearing before the FIFA ethics committee in Zurich on Friday.

A statement from the legal team of Platini told press that he has chosen to boycott the hearing, after a verdict against the presumption of innocence was already announced by a spokesperson.

Platini and Former FIFA president Sepp BLatter are serving 90-day bans from all footballing activities.

Swiss prosecutors have opened a criminal investigation against the two, regarding a 2 million dollars payment given from Blatter to Platini in 2011.

FIFA committee tries to improve Israeli-Palestinian football relationsand in some different FIFA news:

A panel, seeking to improve Israeli-Palestinian football relations, met in the West Bank on Wednesday.

This marked the second time a FIFA monitoring committee has tried to meet and resolve issues between the two groups.

Palestinians are claiming that Israeli security restrictions are limiting the movement of their team and have negative effects on their performance.

The panel was headed by South African businessman Tokyo Sewale, who is currently running for FIFA presidency.

"We know that the political security that motivated the issues affect the movement of people, and the committee was discussing ways to resolve this, so we will see the report about the problems that are afflicted the movement of people, and how they should be resolved."So far, the panel has failed to resolve a number of the issues between the groups.

The Palestinian side has claimed it will not tolerate any compromise.

EntertainmentFans react to new 'Star Wars' movie"Star Wars" fans have flocked into selected cinemas in the Philippines to attend advance screenings of the latest installment, "The Force Awakens."The Philippines was among the first batch of countries to enjoy an early release date on December 16th.

Many fans were in costume and they gave some mixed reactions.

"We don't want to spoil it for the others, but there were very sad moments, or two moments where it really brought me to tears. But all-in-all it brought me back to the beginnings of 'Star Wars' when I was a child watching it.""It is a good movie, but I didn't like the ending because it really got me hanging there. I want to know next, whatever happens next."However, they have to wait for another two years before the next installment - Episode VIII - comes out.

The film had its world premiere yesterday in Los Angeles before making its way to London for its European premiere.

Fans are waiting at London's Leicester Square to see director JJ Abrams with his cast, including Harrison Ford, Carrie Fisher, Daisy Ridley, John Boyega and the spherical droid BB-8.

For Chinese fans, "Star Wars: The Force Awakens" has already opened in Hong Kong and Taiwan, while mainland fans have to wait until January 9th to have a peak.

3D 'Terminator 2' to screen in ChinaSci-fi blockbuster "Terminator 2: Judgment Day" is going to open in Chinese theatres sometime next year.

Director James Cameron made the announcement in a video for Chinese audiences.

"Ni hao, China. For next year is the 25th anniversary of 'Terminator 2', DMG and I are teaming together in the greatest way to celebrate this historical milestone. Using the most advanced technologies; we are converting 'Terminator 2' into the biggest and best 3D ever."It will be the first theatrical release for the film in China, as the system for screening imported films was not set up when the T2 was released in 1991.

Cameron also took some time to thanks the fans for their support.

"I was thrilled to learn how popular T2 is in China. And I wanna thank the Chinese fans for their support, which is all the more meaningful considering T2 was never released in cinema there. And that's why I'm excited about working with DMG to bring T2 into Chinese cinemas for the very first time.""Terminator 2" caused a big buzz around the globe with a lot of thrilling action scenes and groundbreaking visual effects.

It reaped 519 million US dollar at the box office globally, the highest-grossing film of the year.

The film also won four Academy Awards the following year.

The release date for "Terminator 2: Judgment Day" 3D is yet to be announced.

China-India co-production 'Xuan Zang' to bring history to lifeFilmmakers in China and India are working on a project called "Xuan Zang" in a bid to retell the true stories behind the well-known monk.

Xuan Zang is widely recognized by Chinese audiences from TV and film adaptations of the novel "Journey to the West" written by Wu Cheng'en in the Ming Dynasty.

However, the new film is trying to reveal the real Xuan Zang and his arduous journey to India.

Without a single companion, Xuan Zang spent 19 years traveling to, studying at, and returning from the Nalanda Monastery in India.

The China-India co-production is directed by Chinese director Huo Jianqi, and starring Huang Xiaoming as the monk.

Sections of the film were shot in India to recreate the environment of the time.

The film is part of the Sino-India Film Cooperation launched in May.

"Xuan Zang" is expected to be released in China and India sometime during the first half of next year.

WeatherBeijing will be sunny today with a high of 4 degree Celsius; tonight clear with a low of -3.

Shanghai, cloudy with a high of 5 and a low of 1.

Chongqing, cloudy with a high of 12; tonight overcast with a low of 7.

Lhasa, sunny, a high of 12 and a low of minus 5 degrees Celsius.

Elsewhere in the world, staying here in Asia,Islamabad, cloudy, 16.

Kabul, cloudy, a high of 3.

Over in North America,New York will see moderate rain today with a high of 16 degrees Celsius.

Washington DC, also moderate rain, 14.

Honolulu will see slight rain with a high of 28.

Toronto, slight rain, 9.

In South America,Buenos Aires, heavy rain with a high of 28.

And Rio de Janeiro will see moderate rain with a high of 27 degrees Celsius.

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

Recapping our top stories this morning...

The Chinese president's five proposals for the global development of the internet...

the US Fed hikes interest rates for the first time in seven years...

and the UN Secretary General says there is not a minute to waste when it comes to addressing the Syrian crisis...

In Business...China once again cuts its holdings of US Treasuries...

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.