新闻纵贯线 The Beijing Hour updated 20:00 2016/02/05（在线收听）

The Beijing Hour

Evening Edition

Shane Bigham with you on this Friday February 5th, 2016.

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

Coming up on the program this evening...

China's state council has issued a report on the warehouse explosion at the port of Tianjin that killed at least 165 people...

The Chinese foreign ministry pledges food aid for Syrian refugees, and calls for more dialogue between the warring parties...

And a UN panel calls on the UK and Sweden to allow Wikileaks founder Julian Assange to walk free from the Ecuadorian embassy in London...

In business...the international monetary fund does not anticipate a hard landing for the Chinese economy...

In sports...another record transfer fee paid by a team in the Chinese Super League...

In entertainment...Chinese film The Monkey King 2 has been screened in Germany...

All of that 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 at [email protected].

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

Top

Improperly stored hazadous materials blamed for Tianjin blasts

China's State Council has published an investigation report into the devastating explosions at a warehouse Tianjin in August.

The official probe into the blasts in Tianjin port has determined it was a major work safety incident.

On Aug. 12, two explosions ripped through a warehouse storing hazardous chemicals.

It also destroyed nearby apartments.

Investigation shows that the blasts were caused by ignition of hazardous materials, improperly or illegally stored at the site.

According to the report, the fire first started in a container through the auto-ignition of nitro-cotton, due to vaporization of the wetting agent in hot weather.

The fire spread, igniting other chemicals, including ammonium nitrate.

The report deems that the warehouse's owner, Tianjin Ruihai International Logistics Co. has been held mainly responsible for the blasts.

The explosions killed 165 people, with another eight still listed as missing.

More than 800 people were injured.

According to the report, verified direct economic loss caused by the Tianjin warehouse explosions in August has been assessed at around 1.1 billion U.S. dollars.

The probe team has suggested 123 people, including 5 officials at the ministerial level, be punished for the explosions.

Authorities have been continuing pollution control and monitoring efforts nearly six months after the blasts.

China calls for political negotiation in solving Syria crisis

Anchor:

The Chinese foreign minister is highlighting the need for the resumption of peace talks to resolve the Syrian crisis, and is calling for more humanitarian assistance for refugees.

The remarks come as the Syria Donors Conference wraps up in London.

CRI reporter Guo Yan has details.

Reporter:

Chinese foreign minister Wang Yi expressed China's support for the conference and pledged more humanitarian aid for Syrian refugees.

"China supports the convening of today's conference, which is timely and important. We hope that this conference will see new efforts and contributions in achieving peace and stability in Syria, especially in resolving the humanitarian crisis Syria is facing right now. At the G20 Antalya Summit last November, Chinese President Xi Jinping had called on the United Nations to hold high-level meetings regarding the refugee crisis."

He added that at the G20 meeting in Antalya, President Xi Jinping announced 100 million U.S. dollars in aid for displaced persons and refugees.

Wang noted that China will provide 1,000 tons of food aid to support Syrian refugees.

He said different countries should also lend a helping hand and provide emergency aid to Syria and its neighboring countries that have sheltered Syrian refugees.

Wang called on the international community to take action to help the refugees find jobs and help the children receive education.

The foreign minister also stressed the importance of political progress in resolving the Syrian conflict.

"Talks on the Syrian issue have been suspended, which has caused a lot of worry, but will restart on the 25th this month. I think this proves the complexity of the issue itself. And the international community has to stick to the peace negotiations, which lives up to people's expectations. The resumption of peace talks is a key part of this political process in Syria, and the warring parties should give priority to the overall interests of their country and their people, and seize the opportunity of peace talks to show their goodwill and sincerity."

Britain, Germany, Kuwait, Norway, and the United Nations co-hosted the Syria Donors Conference in London to raise significant new funding to meet the immediate and longer-term needs of those affected.

UN Secretary General Ban Ki-moon called on Syria's warring sides to get back to the negotiating table.

The top UN official stressed that there is no military solution and only political dialogue will rescue the Syrian people from their intolerable suffering.

He warned that a pause in the Geneva talks may trigger resumed fighting in the war-torn country.

Ban Ki-moon expressed worry about the current situation in Syria and stressed the need for humanitarian aid.

"I visited all the camps before the crisis. So I can easily imagine what kind of situation would be there. It's as terrible as I've said. And it's as cruel as hell. It's really heart breaking. Helicopters are sending bombs on homes and schools. Families move desperately from one town to another in search for safety."

During the conference, 10 billion U.S. dollars were pledged to help Syrians in need.

For CRI, this is Guo Yan.

China to build military base in Djibouti to facilitate peacekeeping mission

The Chinese government has confirmed plans with Djibouti's government for the construction of a new military base in the African nation.

It will be China's first military installation in Africa.

Chinese Foreign Ministry spokesman Lu Kang says the base will be used to provide supplies for Chinese warships on escort missions in the Gulf of Aden.

"In recent years, China has sent escort fleets to the coast of Somalia and in the Gulf of Aden to perform escort missions. The sailors need rehabilitation and supply while carrying out duties. However they are faced with various difficulties such as a shortage of food and oil. The effective and nearby logistics support is necessary."

More than 60 Chinese naval vessels have been sent to the waters off Somalia since China joined the international escort missions in the area.

Djibouti is located in the Horn of Africa, bordering Eritrea, Ethiopia and Somalia.

It also faces the Red Sea and the Gulf of Aden to the east.

The Chinese military used a port in Djibouti when it withdrew its citizens from Yemen during the start of that country's internal conflict.

AIIB appoints senior leadership team

The Asian Infrastructure Investment Bank has appointed five vice presidents with work experience in both developed and emerging economies as well as multilateral institutions.

Among them, Danny Alexander, former chief secretary to the UK Treasury, was appointed as vice president and corporate secretary.

And Joachim von Amsberg, currently vice president of development finance at the World Bank, will serve as the AIIB's vice president of policy and strategy.

AIIB President Jin Liqun says the leadership team is "an exceptionally strong and committed group."

Proposed by China, the AIIB was established in Beijing in December with 57 founding members.

Cross-Straits affairs chiefs speak via hotline

Cross-Straits affairs chiefs from the Chinese mainland and Taiwan say they will continue to implement the consensus reached at a meeting between Xi Jinping and Ma Ying-jeou last year.

The remarks were made during a conversation on Friday morning between Zhang Zhijun, head of the Taiwan Affairs Office of the State Council, and Taiwan's mainland affairs chief Andrew Hsia via a new hotline.

The mainland official described the current cross-Straits ties as "sensitive and complex, with increasing uncertainty."

Zhang says the two sides have maintained a peaceful and stable situation over the past eight years because both have adhered to the 1992 Consensus, which implicates that "both sides belong to one China."

He called on the two sides to improve communication, control risk, and do more for the development of cross-Straits relations and people's welfare.

The hotline was officially put into operation after Xi Jinping and Ma Ying-jeou met in Singapore last November.

Preparations for the Chinese Lunar New Year kicked into high gear

Anchor:

Preparations for the Chinese Lunar New Year have kicked into high gear across China as people head outdoors to shop at urban and rural fairs.

CRI's Min Rui has more.

Reporter:

Preparations for the Chinese New Year are well underway in Beijing with streets and parks lined with decorations.

At Wukesong New Year market, all manner of lanterns and decorations, many in the shape of the monkey, are on sale.

Liang Jianfeng took his three-year-old son to the market for some toys, and says the decorations and lanterns offer more variety than they did in previous years.

"The goods are wider in variety than before. Look at these pendants, haven't seen many of them before. They all look beautiful and bright in color, and they are very traditional."

As the Year of the Monkey draws near, many stores in Shanghai are seeing a hustle and bustle of people picking up food for the festival.

This year, Shanghaiers are in the mood for some exotic tastes.

Imported food products are gaining in popularity among people in Shanghai during the traditional festival.

"I will buy Chinese snacks such as pork jerky and pecans. I also want to try something new like chocolate and fruit candies from Japan,"

Teng Shuqiong, manager of Shanghai First Foodhall, says the sales of imported foods have been climbing for this year's festival.

"The variety of imported foods in our store has increased greatly, up by about 20 percent from the previous year."

Online retailers are also noticing an increase in the sales of imported foods.

Cui Wanqian, manager of Shanghai Fun Q Network Tech, says American potato chips and Japanese snacks are among the best sellers.

"Chocolate, biscuits and nuts are the most popular imported food products on our website, as such snacks can be shared when family members gather. The potato chips from the United States and Japanese snacks are among the most favored."

Elsewhere in China, residents and visitors in north China's Tianjin Municipality swarmed into the century-old Cultural Street, which has come to life with various decorations, lanterns and streamers. It's said no one left the market without purchasing something.

In Shenyang, capital of northeast China's Liaoning Province, the street markets are filled with shoppers who are busy choosing traditional Chinese snacks and customary New Year's goods.

But there is one thing you might not be able to purchase this holiday, as several cities curbed or limitedthe selling and lighting of fireworks during the fest.

Zhengzhou, Shanghai, and Hangzhou all banned fireworks this year, while Beijing has put on strict limits, whereby residents can only light fireworks between 7 in the morning and midnight.

For CRI, this is Min Rui.

Prime Minister David Cameron sends 2016 Chinese New Year message

British Prime Minister David Cameron has recorded a video message to mark the 2016 Chinese New Year.

Cameron noted that Chinese President Xi Jinping's visit to the United Kingdom in October of last year opened a golden era for ties between Britain and China.

"Last year, it was an honor to welcome President Xi Jinping and Madame Peng to the UK, heralding a golden era in our countries' relationship. During the state visit - the first in a decade - we made a huge range of agreements that would bring us even closer together, from more investment and research to better visa arrangements. And this year will be about delivering on those things."

The prime minister emphasized that the bond between the two countries has shone brightly in such areas as education, business and tourism.

Cameron also extended his best wishes for the Chinese people in the 2016 Chinese Lunar New Year.

"So as the lights go up, the parades begin, the music starts and families gather together, let's celebrate everything we're achieving together. And let me wish you the very best health and happiness for the new year. Xin nian kuai le (Happy New Year)."

The prime minister believes that the bond between China and Britain will become closer as more people of Chinese origin are making an impact in his country's hospitals, schools and Parliament.

Chinese travelers to benefit from improved consular services

A survey of young people in China has found that half of them have plans to travel during the Spring Festival holiday, with many of them eyeing trips overseas.

In light of such a trend, the Chinese government has put forward new policies to facilitate overseas travel and protect Chinese tourists.

The foreign ministry has announced plans to tighten up security measures to ensure the safety of Chinese citizens traveling abroad.

Guo Shaochun is the director of the Foreign Ministry's consular department.

"We issue safety alerts through the network of Chinese consular service and WeChat for reference by citizens traveling abroad. We will provide handouts for tourists when they apply for passports and purchase tourism products to raise their awareness of self-protection and improve capability to fend off risk."

According to the survey by China Youth Daily, more than 51 percent of the two thousand respondents said they would be traveling during the week-long holiday that starts on February 7th, the eve of the Lunar New Year.

More than 40 percent of those travelers said they would be leaving the Chinese mainland, with Singapore, Malaysia, and Thailand being the most popular destinations, followed by Taiwan, Hong Kong, the United States, and France.

An estimated six million Chinese are expected to travel overseas during the 2016 Spring Festival Holiday.

Guo noted that the Foreign Ministry will continue to simplify visa application procedures.

"During 2016, we will work on facilitating visa applications on the basis of seeking common interests, mutual respect, and mutual benefit. We will help those who meet the conditions for visa-free travel arrangements to make the trip. For those who have urgent need for work, study or family visits, we will offer favorable arrangements to help them realize their dreams."

Statistics show that China has signed visa-free agreements with 106 countries and has 62 policies to simplify procedures for visa applications.

53 countries and regions around the world allow Chinese tourists to travel without visas or grant Chinese tourists visas-upon-arrival.

Younger Chinese visitors to South Korea purses local bands over luxury ones

Anchor:

Chinese visitors to South Korea are buying less from global luxury mainstays like Louis Vuitton and Chanel in favour of cheaper home-grown brands.

This comes as young, independent travelers are making up a bigger share of the tourist market.

For more on this, CRI's Liu Xiangwei reports.

Reporter:

Statistics show that Chinese tourists visiting South Korea are getting younger.

The share of those in their 20s and 30s rose to 46 percent last year, from 41 percent in 2013, according to the government-run Korea Culture and Tourism Institute.

While older Chinese tourists typically travel in groups where they are ferried between shops catering to them, Chinese millennia’s tend to be better-informed about what they want, travel independently and spend less on shopping.

20-year-old Chinese tourist Liu Yuting is one of them.

"I use my mobile phone to research what products to buy in South Korea, it is very convenient. Many Chinese girls like South Korean products, because most of them are cheap and cute."

This new trend is reflected in data which shows that Korean cosmetics like LG Household & Healthcare's Whoo and Amorepacific's Sulwhasoo were the top-selling brands in 2015, overtaking Louis Vuitton, Chanel and Cartier.

Average prices on best-selling items from global luxury brands in South Korea are cheaper than they are in mainland China, but still cost more than in Europe.

This has also driven more Chinese tourists in Korea, like 21-year-old Zhu Xin, to local bands.

"You can buy those big brands everywhere, and it is actually cheaper to buy those brands in other countries compared to the prices in South Korea. I think now that we are here, we should buy local brands. Many local brands are of great quality."

In analyzing the latest trend, KB Investment & Securities analyst Yang Ji-hye believes Chinese consumers have become more rational.

"Young people are taking the lead in Chinese tourists' spending. Whereas past generations blindly purchased luxury goods, the younger generations have a reasonable consumption pattern. They have increased their preference for Korean cosmetics and fashion brands which have a fresh and refined image."

The number of Chinese tourists to South Korea dipped 2.3 percent in 2015 to about 6 million due to the deadly Middle East Respiratory Syndrome outbreak.

However, brokerage CLSA says Chinese inbound traffic growth rebounded from September and should jump by 28 percent in 2016. The South Korean government expects a record 8 million Chinese visitors this year.

For CRI, this is Liu Xiangwei.

American Businesses Ready for Chinese Tourist Influx during Spring Festival

Anchor:

Despite the strengthening U.S. dollar and a slowing Chinese economy, Chinese tourists are still expected to visit the United States in large numbers.

The US Government believes that by 2021, tourists from China could be spending as much as 80 billion dollars in the United States.

For more on this, Huang Shan reports.

Reporter:

2016 has been dubbed the year of China-U.S. tourism, with the biggest rush expected around the Chinese Spring Festival.

In New York City, luxury department store, Bloomingdales, is celebrating the Year of the Monkey by honoring a Chinese tradition, giving out "hong bao", red envelopes with money inside.

And, Amy Grilly, director of the award-winning restaurant chain Hakkasan Group, says they will also be offering a special Chinese New Year menu over the next few weeks.

"Every guest that dines off the Chinese New Year menu will get a red pouch with a gold coin in it, it's good luck, it's prosperity for the year. Every guest that comes to the restaurant will get a wishing ribbon, so it's a gold ribbon, that you can write your wish on and you can hang it in part of the restaurant. The belief is you write your wish on a ribbon, you hang it from a wishing tree and when it comes it will blow your wish into the new year."

And the readiness to welcome a big influx of Chinese visitors isn't limited to the east coast.

Brian Buchwald, CEO of Bomoda, says many retailers across the States are devising strategies catering for Chinese tourists.

"Chinese tourists have become major spenders and major drivers of growth and stability for large brands worldwide. In the hotel category for brands like Starwood and Hilton and others have really put a focus on the Chinese tourist. But obviously also retail so brands like Macy's and now Bloomingdale's is coming on very strong."

In 2014, 1.8 million Chinese tourists visited the United States and spent an eye-watering 21.1 billion dollars, a figure that's expected to nearly quadruple over the next five years.

Vice president of Bloomingdales' International Programs, Jerry Wu, outlined his company's aim to provide Chinese customers with a comfortable shopping experience.

"I think there is a tremendous amount of growth within China and their willingness and thirst for luxury goods has really propelled a strategic need to cater to them. We are an all-inclusive company, so what we like to do is look at the trends of the countries that are growing and really just provide them with experiences, shopping experiences that they would experience back home."

The U.S. Department of Commerce has said that by 2021, Chinese tourists could be spending as much as 80 billion dollars in the United States.

For CRI, this is Huang Shan.

UN panel says Assange should be allowed free

A United Nations legal panel has ruled that Wikileaks founder Julian Assange should be allowed to walk free, and should be compensated, for his "deprivation of liberty."

Swedish prosecutors say the UN ruling has "no formal impact" on their inquiry and British police say Assange still faces arrest.

The spokesman for WikiLeaks, Kristinn Hrafnsson warns that if the two countries choose to ignore the UN ruling, it will set a bad example for the world.

"It would set a standard, it would mean that not so democratic governments around the world can easily dismiss other decisions made by this human rights body and say 'Why should we abide by it when Sweden and UK are not considering bound by it'. This is...that would open up Pandora's box, undermining not just this body but human rights work of the United Nations level. That is very serious."

Assange, who faces extradition to Sweden over a rape allegation, claimed asylum in London's Ecuadorean embassy in 2012.

The 44-year-old denies the allegation and fears he would be extradited to the United States to face charges over Wikileaks' publication of classified military and diplomatic documents.

In 2014, Assange complained to the UN that he was being "arbitrarily detained" as he could not leave without being arrested.

Emergency talks held in S. Korea over possible N. Korea missile launch

South Korean Defence Minister Han Min-koo has warned North Korea not to conduct its missile launch, or it will be met with stern action from Seoul.

Han made the remarks at an emergency meeting with key military officials on Friday.

"If the missile launch takes place, the South Korean military will detect the missile launch in real time and apply prompt follow-up measures. The military's foremost duty is to protect the lives of South Korean citizens and properties. If a North Korean missile or any part of the missile, falls within our territory, we will take stern measures so that North Korea can pay the appropriate price."

Also on Friday, defense authorities from South Korea, the United States, and Japan held a video conference to prepare for North Korea's planned launch of a long-range rocket.

South Korean media says senior military officials of the three allies shared intelligence on the North's missile launch, while assessing current situation.

Under a trilateral agreement, military intelligence between South Korea and Japan can be shared only through the United States.

The intelligence-sharing contact comes as Pyongyang has announced plans to launch a long-range rocket later this month to put an observation satellite into orbit.

Brazil confirms Zika contraction through blood transfusions

Two people in southeastern Brazil have contracted the Zika virus through blood transfusions.

Dr. Alvaro D'Alincourt is a medical supervisor at the main blood bank in Rio de Janeiro.

He says precautions against blood infected by the Zika virus were the same as precautions for all other blood transmitted diseases.

However the doctor also admitted that Zika is new and the medical community has many questions.

"We cancel the procedure and do not allow donors to give blood. Even after the donors give blood, we request that they contact us if they think they have the symptoms of the infection and that way we can stop the blood from being transfused."

Zika, which Brazilian researchers have linked to a rare birth defect called microcephaly, is most commonly spread through mosquito bites

Weather

Beijing will be clear tonight with a low of -4; sunny tomorrow with a high of 6.

Shanghai will be cloudy tonight with a low of 1; more clouds tomorrow with a high of 6.

Chongqing will also be cloudy with a low of 6; same skies tomorrow with a high of 11.

Lhasa, clear tonight with a low of -3; sunny tomorrow with a high of 14.

Elsewhere in Asia,

Islamabad, cloudy tomorrow with a high of 20.

Kabul, sunny, 3.

Down in the Southern Hemisphere.

Sydney will have some clouds, highs of 24.

Brisbane, slight rain, 27.

Perth, sunny, 35.

And finally Auckland will see slight rain with a high of 28 degrees Celsius.

Headline News

Tianjin warehouse blasts report published

An investigation into the warehouse blasts in Tianjin port last August has determined it was a major work safety accident and held more than 120 people responsible.

An official report has now been released, following the conclusion of a thorough probe ordered by the State Council.

On Aug. 12, two explosions ripped through a warehouse storing hazardous chemicals and residences at Tianjin Port, leaving 173 people dead and about 800 injured.

Investigators have determined that the blasts were caused by ignition of hazardous materials, improperly or illegally stored at the site.

The warehouse's owner, Tianjin Ruihai International Logistics Co. has been held mainly responsible for the blasts.

Meanwhile, the State Council probe team has suggested that 123 people, including 5 Tianjin officials at ministerial level, be punished for the incident.

China backs political process in Syria: Chinese FM

China says it firmly supports the political process in Syria and calls for favorable international conditions for the intra-Syria talks.

Chinese Foreign Minister Wang Yi made the remarks while meeting with his British and French counterparts on the sidelines of a Syria donors' conference in London.

Earlier, Wang Yi announced that China plans to donate 10-thousand tonnes of food supplies to help ease the food shortage among Syrian refugees.

The London donors' conference has raised 6 billion US dollars from the roughly 70 countries which have taken part.

Mt. Sakurajima in SW Japan erupts

Mount Sakurajima in southwestern Japan's Kagoshima prefecture erupted at just before 7 p.m. local time.

There were no immediate reports on damage or injury.

Lava erupted out of the crater in the east of the volcano.

Warnings for the crater was upgraded to level 3, meaning individuals are forbidden to get close to the volcano.

The volcano's latest eruption was recorded last May.

Panda Bei Bei Ventures Outdoors for First Time

The new panda cub in Washington's national zoo, Bei Bei, has had his first taste of the outdoors.

Along with his mother, Mei Xiang, the cub ventured outside of his enclosure to play and experience the fresh air for the first time.

Bei Bei was born in August at the zoo, along with a twin. His twin died a few days later.

Beibei is the third panda cub born at the national zoo in Washington DC.

Biz Reports

Anchor:

Time to check today's business news, starting with the closing numbers in Asia.

Here is CRI's Min Rui.

Reporter:

China's stocks closed lower on Friday, concluding the Year of the Sheep on a down note.

Nearly 2-thousand stocks declined, among which 4 stocks plunged by the daily limit of 10 percent.

Financial heavyweights remained among the weakest performers.

However, the airline sub-index surged, supported by the busy festival season.

At the close,

The benchmark Shanghai Composite Index dropped 0.6 percent.

The smaller Shenzhen Index decreased 1.2 percent.

The ChiNext Index of growth enterprises lost 1.4 percent.

The Shanghai and Shenzhen bourses will be closed during the Spring Festival holiday, and stock trading will resume on February 15th.

In Hong Kong, shares climbed on the day, with the Hang Seng Index up half a percent.

Elsewhere in Asia,

Tokyo shares ended lower on Friday.

The benchmark Nikkei shed 1.3 percent.

South Korea's KOSPI inched up 0.1 percent.

Singapore's Straits Times added two and half percent.

And finally, Australia's ASX/200 moved down 0.1 percent.

China can manage growth transition without hard landing: IMF

The International Monetary Fund says it does not expect a hard landing for the Chinese economy.

IMF chief Christine Lagarde says China's economy is going through a transition to slower, more sustainable growth.

She adds that despite difficulties and volatility, China can manage its growth transition.

Her comments come amid concern from some in the financial community that China's economy is slowing down too quickly amid the current transition.

Lagarde also calls on emerging markets to enhance the resilience of their financial systems by adopting stronger macro-prudential policies.

Two more banks to end support for P2P lending

Two major banks in China are set to shut down third-party e-payment platform services.

The move comes after the Chinese peer-to-peer lending platform Ezubao was raided for launching a 7.6-billion-US-dollar Ponzi scheme.

China Merchants Bank and Bank of Communication are following the move by Agricultural Bank of China and ending support for P2P platforms.

China Merchants Bank says it will no longer support P2P lending services after the upcoming Spring Festival holiday.

A number of P2P platforms admitted that several banks had pulled P2P support for third-party payment integration in recent days.

Japan remains China's important investment source country: MOC

China's Ministry of Commerce says Japan is still one of China's most important investment source countries.

Ministry spokesperson Shen Danyang made the remark amid concerns expressed by Japanese firms that business potential in China has gone down in recent years.

Data showed the investment of Japan to China was down by 25 percent in 2015, and down by nearly 40 percent in 2014.

Shen says the leaders of many Japanese companies here in China are still positive and optimistic.

"Many surveys show a majority of Japanese enterprises consider that the potential in Chinese markets is huge and they won't give up the Chinese market which is important to them. According to a recent report conducted by Japan External Trade Organization, lots of Japanese companies attempt to expand their investment in the Chinese market."

The spokesperson added that the Chinese economy has entered a new normal stage, in which the economic growth has begun to turn slow and costs for labor and land are on the rise.

More Chinese investors hold stocks during Spring Festival

A new survey shows most investors here in China prefer to hold their stocks during the Spring Festival holiday.

China's A-share markets witnessed panic selling in trading in the first month of the year. Tens of trillions of yuan were lost on the Shanghai and Shenzhen bourses last month.

But despite massive fluctuations on the markets, many investors have chosen to hold on to their stocks.

"Veteran investors like us have experienced both the bullish and bearish markets. So I will continue to hold stocks during the holiday. I believe the market will rebound in February."

Despite this, some investors say new comers had better be cautious with their investments for the time being.

Meantime, China Asset Management Investment Director Yang Kun is suggesting that investors should hold some stocks.

"As an old saying goes that when most people realized it, the opportunities might have gone. In my opinion, a positive investor should take more risks and take the time to make a thorough study of the stocks. They can often rake in huge profits at the moment when the market began to recover."

In most cases, the stock market soared on the first trading day after the Spring Festival.

However, the volatile market and shrunken trading volume cast a cloud over investors.

Shanghai Disney Ticket & CMC's new investment

Anchor:

Let's check out some of the main events taking place on the corporate front in China this week.

Shanghai Disney Resort announced its ticket prices - 370 yuan or 80 US dollars for regular tickets, while prices for peak days like weekends and holidays have been set at 499 yuan.

The price for a standard ticket is 20 percent cheaper than that for Hong Kong Disneyland.

For more on the story as well as China Media Capital's new investment, CRI's Bob Jones spoke with Doug Young, Associate professor at Fudan University and former China company news chief with Reuters.

Total signs new agreement to supply LNG in China

Global energy giant Total has signed a new agreement with a subsidiary of China's ENN Energy Holdings to supply China with liquefied natural gas for 10 years.

Total says the deliveries would be sourced from its global LNG portfolio and delivery is expected to begin in 2018 upon completion of ENN's Zhoushan LNG receiving terminal.

The energy giant has a 15-year sales and purchase deal for 1 million tons of LNG annually with China National Offshore Oil Corporation.

Sports

Jiangsu Suning spends 50 million on transfer

In some domestic football news:

Another new record has been set in the spending for players as Chinese Super League team Jiangsu Suning picked up Brazilian midfielder Alex Teixeira for 50 million Euros.

The announcement came on Friday as the 26-year-old football star agreed to a four year contract.

The amount paid for Suning's new player tramples the record spending previously set by Guangzhou last Wednesday.

Evergrande had spent 42 million by picking up Colombian Jackson Martinez.

When asked about this expensive move, Manager for Suning, Liu Jun stated that "Alex is a versatile player who will boost the competitiveness of our team considerably".

Liu would also go on to state that his team is looking to pick up a new forward.

Globally for winter transfers, out of the top 6 deals that have been made, 5 of them have been China related.

Golden State Warriors invited to White House

In some NBA news:

It seems the Golden State Warriors have a fan in the White House and his name is Barack Obama.

The basketball titans were invited to meet the president and receive a tour of the White House.

During their visit, Obama spoke some kind words about the team and how they play.

"Now, let's face it, the Warriors are in the midst of a pretty special two-year run.　Folks are saying that they are "revolutionizing" basketball.　They are so good that they seem to be just breaking the game itself.　And I don't play anymore, but I still know a little bit about basketball, and this really is one of the best that we've ever seen.　Great shooting, great passing, a small-ball "nuclear lineup" -- it's almost not fair.　And they play not just well, but they play well together."

The Warrior's would respond to Obama's kindness by offering him a Golden State Jersey with the number 44.

The number represents Obama being the 44th president and the team jokingly offered him a position on the team after he leaves office.

This invitation comes as after the 2 seasons of the Warriors dominating the NBA.

The team currently is riding a historic 45 wins-to-4 losses record so far this season.

Update from Superbowl

And in American Football:

As the big day approaches, the Carolina Panthers have held their final press conference ahead of the Superbowl.

Quarterback for the team, Cam Newton spoke with the press about what his team expects from the Broncos on Sunday.

"We know what we have to do to get prepared for this game. Offensively, we know what they're doing pretty much. They have long rangy guys that are capable of creating turnovers by either stripping the ball or intercepting it. For us we just have to be on our Ps and Qs, run precise and throw precisely in their secondary to be effective."

Don't forget American football fans, kick-off for the game starts at 3:25pm Pacific Time.

So for you folks in Beijing, be ready for an early morning of football as the game will be on at 7:30 am on Monday

Sunderland looks ahead to Liverpool

in some English Premier league news:

Sunderland is prepping for their next match on Saturday against league number 8's Liverpool.

Currently Sunderland is in 19th place for league standings.

Manager for the team Sam Allardyce spoke about Sunderland's condition.

"So in our position, not gaining at least a point is a massive blow to us in where we are and where we're positioned in the league. So we need to make up for that by continuing that level of performance, and that will hopefully - and I don't have any real doubt about that - give us more positive results going forward. It's whether the lads can maintain that level of performance. We haven't managed to do that in my period here consistently.

Sunderland has been in a bit of a rut lately with their wins totaling to only 5 this season.

The last win they had was against Swansea on February 15th.

According to Allardyce, he believes Sunderland has a good chance at beating a tired Liverpool.

Swansea to play Crystal Palace

and in another EPL preview:

Swansea is looking to take on Crystal Palace this Saturday.

Currently Crystal Palace is in 12th place for league standings with Swansea falling behind in 16th.

Manager for Swansea Francesco Guidolin spoke during a press conference, claiming that this game could be a struggle for his team.

"I think the game will be difficult for us, I think Crystal Palace is a good team.　They have one player I know well – (Emmanuel) Adebayor as when I was in Monaco we worked together for the first part of the season before he went to Arsenal.　I know him very well, he is a good player, a good striker.　I think Crystal Palace is a good team, I like Alan Pardew and I like his team."

In their last two matches Swansea pulled off a tie with West Brom and a win against Everton.

However, Crystal Palace will be coming into this face-off with loss to Bournemouth and win against Stoke, in their most recent games.

England preps for Six Nation opener against Scotland

and in Rugby:

England's head coach Eddie Jones has boasted in a press conference Thursday that he has selected the best 23 players ahead of their opening match against Scotland in the Six nations tournament.

The outspoken Jones told the media that he is looking forward to playing Scotland on their home turf.

"When they talk about the Six Nations being the best Championship in the world, that's the whole reason why it's the greatest Championship, because every game means so much. It means so much to the fans, it means so much to the nations. So if you can't get excited about it, you're not going to get excited about anything are you? The 23 that we have picked have got a fantastic opportunity to play well for England in front of how many thousands of Scots."

The England vs. Scotland game will take place at Murrayfield on Saturday.

Entertainment

3D film "Monkey King 2" Screened in Germany

Chinese 3D film "The Monkey King 2" has just hit the big screens in major German cities.

The story, like its first edition, is also adapted from "Journey to the West," one of China's four literary classics.

The story of the monkey king escorting his master, the Buddhist monk Xuan Zang, to the West to acquire Buddhist scriptures in spite of many difficulties is known to the world.

Many audiences in the cinema say they are impressed by the story as well as the special effects.

"I like it very much. And I think it is the most famous Chinese fairy tale. Now we can watch the movie in 3D, I love it."

"I like it very much because it is the combination of creativity and ancient tradition. I'm surprised to watch the movie, actually it is an ancient fairy tale and showed in high-tech ways. Both the special effects and the cast of the movie are pretty good."

The film will be shown in China next Monday, the first day of the Chinese lunar New Year, the year of the monkey.

Animated Movie Hit Cinemas in New Year Holiday

Chinese animated film "Mr. Nian" is set to open in mainland theaters on Monday.

"Nian" means year in Chinese, and used to be seen as an evil monster, which attacks humans on the eve of Chinese Lunar New Year. However, the centuries-long stereotype gets a twist in the upcoming movie.

In this story, Mr. Nian travels in the human world, and gathers his heavenly peers to fight against a villain who is trying to destroy the Spring Festival.

The movie's producer Xia Chen'an says the animated character will be charming and based from Chinese culture and tradition.

12 stars are voicing the main characters in the movie, such as actors Chen He and Guo Tao, and actresses Zhou Dongyu and Tao Hong.

Madonna Kicks off Her 'Rebel Heart' Tour in Taipei

Madonna has kicked off her "Rebel Heart Tour" in Asia at the packed Taipei Arena, playing her 80s classic hits and of course songs from her new album "Rebel Heart."

According to local media, the concert started more than an hour late but lasted more than 2 hours.

Even local celebrities were starstruck by the American pop idol. Dozens of singers and actors were interviewed before they entered the concert area. Several dressed up and sang the singer's hits on their way in to the concert hall, including recording artist Landy Wen and singer/host Dee Hsu.

"I wanted to dress up like Madonna today. Wearing underwear on the outside is a classic look by Madonna. What I wore today is Madonna's early style when she released her song "Like virgin."

"Of course, music makes people come together. It would be worth it even if I could only hear this song."

Taiwan is the superstar's first stop of her Asian tour that will take her to Thailand, Japan, Hong Kong, Macau, New Zealand and Australia.

Earth, Wind & Fire Founder Maurice White Dies at 74

Maurice White, the founder of R&B funk band "Earth, Wind & Fire," has died in Los Angeles at the age of 74.

A band spokesman confirmed the news, saying the musician died at his home on Wednesday night.

Details on the cause of death are not yet available.

"Earth, Wind & Fire" was founded by White in 1969.

The Grammy-winning band enjoyed numerous hits including "Shining Star," "Boogie Wonderland," and "September."

While never disappearing completely, "Earth, Wind & Fire" enjoyed a career resurgence after the election of US President Barack Obama, who invited the band as one of the first entertainers when he entered the White House in 2009.

White's death is the latest among a string of prominent musicians who have passed away since the start of 2016.

Weather

Beijing will be clear tonight with a low of -4; sunny tomorrow with a high of 6.

Shanghai will be cloudy tonight with a low of 1; more clouds tomorrow with a high of 6.

Chongqing will also be cloudy with a low of 6; same skies tomorrow with a high of 11.

Lhasa, clear tonight with a low of -3; sunny tomorrow with a high of 14.

Elsewhere in Asia,

Islamabad, cloudy tomorrow with a high of 20.

Kabul, sunny, 3.

Down in the Southern Hemisphere.

Sydney will have some clouds, highs of 24.

Brisbane, slight rain, 27.

Perth, sunny, 35.

And finally Auckland will see slight rain with a high of 28 degrees Celsius.

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

Recapping our top stories...

China's state council has issued a report on the warehouse explosion at the port of Tianjin that killed at least 165 people...

The Chinese foreign ministry pledges food aid for Syrian refugees, and calls for more dialogue between the warring parties...

On behalf of the Beijing Hour team, its Shane Bigham in Beijing. Join us for the next edition of the Beijing Hour, to open a window to the world together...