新闻纵贯线 The Beijing Hour updated 20:00 2016/02/06（在线收听）

The Beijing Hour

Evening Edition

Shane Bigham with you on this Saturday, February 6th, 2016.

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

Coming up on the program this evening...

Reports out of Japan and South Korea say Pyongyang is speeding up the timeline for a planned satellite launch...

At least seven people have been killed after a strong earthquake on the island of Taiwan...

And the UN Secretary General outlines what he calls an "unprecedented" threat to global peace and security...

Our weekly business roundup will be heard in the second half of the program...

In sports...the Premier League's Manchester City will visit China...

And in entertainment...the final rehearsal has been held for CCTV's Spring Festival Gala, airing live tomorrow night...

All of that coming up in the next hour, but first, just a reminder there are several ways to reach out to us here on the Beijing Hour.

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

We're also on WeChat. Type in "Beijing Hour" to find us.

Email us directly at [email protected].

You can also visit crienglish.com for the latest news and information from China Radio International.

Top News

North Korea brings forward planned satellite launch to between Feb. 7-14

North Korea has reportedly accelerated its plan to launch a satellite.

According to the Japanese news agency Kyodo, the launch date has been moved up to somewhere between February 7 and 14.

South Korea's Yonhap news agency also reported on Saturday that the North has already notified the International Maritime Organization of its revised plan.

Pyongyang earlier notified the United Nations that it planned to launch an earth-observation satellite between the 8 and 25.

North Korea has been insisting that its space programme is peaceful.

But the plan triggered worries that the launch could be used as a cover for a long-range missile test by the country.

North Korea is banned from test-firing any rockets based on a ballistic missile technology under UN Security Council resolutions.

The launch follows North Korea's 4th nuclear test, conducted on January 6.

Chinese President in talks with South Korean and US counterparts

President Xi Jinping has stressed Beijing's commitment to the de-nuclearization of the Korean Peninsula, during separate conversation with his South Korean and US counterparts.

Xi Jinping held telephone conversations on Friday with Park Geun-hye and Barack Obama respectively.

While talking with President Park, the two leaders expressed concerns over the nuclear activities of North Korea.

Xi Jinping also stressed the need to reach a solution through dialogue and consultation.

In conversation with President Obama, Xi Jinping also said that Beijing supports safeguarding UN Security Council resolutions and the international nonproliferation system.

The two leaders also pledged closer communications and coordination on the issue.

At least 7 killed, hundreds injured in Taiwan quake

The search and rescue effort in Taiwan is ongoing, after a 6.7 magnitude earthquake shook the southern part of the island on Saturday morning, killing at least 7 people and injuring hundreds.

More than 200 people have been evacuated from the quake zone and dozens of them have been sent to hospitals.

The epicenter was at the city of Kaohsiung, but more severe destruction has been reported in the city of Tainan, where the earthquake toppled many high-rise buildings, including a 17-storey apartment complex with over 90 households.

A survivor of the quake describes the scary moment she escaped from her building.

"When the quake struck, I ran downstairs to the third floor only to find the stairs to the second floor have been completely destroyed. I was scared by the quake. The house was completely tilted when we were asleep. "

Mayor of Tainan city Lai Qingde says they are still focusing on rescuing those who are trapped in the debris.

"We have found people who are still alive under the rubble and we put them as the top priority in our rescue efforts. We will mark the sites where we have passed and did rescue operations. We will also send rescue teams to inaccessible sites to search survivors with life detection equipment."

Experts with Taiwan's earthquake monitoring center say the shaking in Tainan city lasted longer than it did in other locations.

Experts say the area mostly consists of flat lands, the soil is comparatively looser, and some other geological factors also contributed to the longer shaking time in the region.

Local media reports say the quake has been deemed as the most severe in Taiwan in six years, and the tremendous power of the earthquake equals the energy of two atomic bombs.

Taiwan leader Ma Ying-jeou says troops and rescue personnel are fully engaged in carrying out a rescue operation and providing shelter for those affected by the earthquake.

"I have spoken on the phone Mayor Lai. Using our full capacity, we are carrying out a rescue operation. At this moment, we are first providing rescue and then shelter. For the rescue operation, we have mobilized enough manpower to carry out the task. For the shelter, the army has arranged one in a nearby military school with 1,200 beds. The current situation of this disaster isn't all clear. We are continuing to communicate with those on the ground."

The Chinese mainland has offered to help Taiwan following the quake.

Premier Li Keqiang has sent condolences to people on the island.

The mainland's Red Cross Society has also offered 2 million yuan or more than 300,000 U.S. dollars of disaster relief funds to Taiwan.

Travel agencies take contingency plans following earthquake in Taiwan

Anchor:

China National Tourism Administration has initiated an emergency response following the earthquake in Taiwan.

In confirming the safety of tourists in Taiwan, travel agencies on the mainland have also activated contingency plans for the possible cancellation or change of travel plans to the island.

CRI's Yu Yang has the details.

Reporter:

China National Tourism Administration spokesman Zhang Jilin says there has not been any word of injuries involving citizens from the Chinese mainland.

"So far, we haven't received any reports on casualties among tourists from the Chinese mainland. And firstly we are working on checking the tourist groups in Taiwan. We have initiated an emergency response plan."

In the meantime, major travel agencies have taken measures to check on the safety of their tourists in the island.

China International Travel Service has called its tourists in Taiwan to report on their safety to their families and to make changes to their following-up travel plans.

Xu Xiaolei is from the tour-booking website aoyou.com, under the China Youth Travel Service.

"We have contacted, one by one, all of the 240 people who ordered the tour trips or self-service travel. They are all confirmed safe. In the meantime, for those people who booked our single services like plane tickets, hotels or Entry Permits, we also sent text messages to remind them of safety. "

Xu says steps have been taken to help any tourists who wish to postpone or cancel their travel plans to Taiwan during the upcoming holidays.

"If any consumers want to cancel their travel, we will try our best to avoid their losses by cooperating with them based on the contract and relevant laws. We will keep monitoring the situation. We will also compensate those who had to change their travel plans."

Travel agencies are urging those who have chosen to stick to their travel plans in Taiwan to be careful.

Xu Xiaolei from China Youth Travel Service has some advice.

"For those to travel in groups, they should follow the direction from the guide and tour leader. For those who are on self-service travel, they need to pay attention to the reports of local media. Once there is any sign of earthquake, they should immediately run to the open ground and call the local police for help. They can also call the 24-hour hot line of aoyou.com."

All flights to Taiwan are currently operating normally.

The tremor caused temporary delays for high-speed rail travelers in southern Taiwan.

For CRI, this is Yu Yang.

China's railways to transport 7.7 million passengers Saturday

Railways across China are expected to transport around 7.7 million travelers today, the last day of the travel peak before the Spring Festival, which falls on Feb 8.

The passenger flow on Sunday is expected to drop, with most passengers making only short journeys on the eve of Chinese Lunar New Year.

Affected by the earthquake in Taiwan, tremors have been felt from Hangzhou in eastern China to Shenzhen in the south.

Local railway departments launched contingency plans, inspecting track for potential damage, and some trains traveling on the affected sections suffered delays of about an hour.

Most of those trains are now back to running on their normal schedules.

Li Youming is the vice director of the Fuzhou Railway Station.

"To ensure the safe running of the trains, we closed part of the Hangzhou-Shenzhen line to do an examination of the track. This caused temporary delays for the trains running on that part of the line."

Road traffic in the provinces of Fujian and Guangdong was not affected by the earthquake.

For civil aviation, the passenger flow has been easing ahead of the holiday. Beijing Capital International Airport is expected to transport nearly 260,000 travelers on Saturday.

Affected by heavy fog and snow, some flights in Urumqi, in the northwest, are delayed, as are flights in the cities of Kunming and Guiyang in the southwest.

United States Postal Service issues stamp for Year of Monkey

The United States Postal Service has issued a new Lunar New Year stamp for the Year of the Monkey.

The stamp has quickly gained popularity among the public in the United States.

Daniel Piazza, chief curator of the National Postal Museum, says the new stamp sold out in an hour on Friday, the first day of sales.

"Today is an exciting day, because the United States Postal Service has issued the new Lunar New Year stamp for the Year of the Monkey. If you want one of these stamps, you're really going to have to hurry, because they're selling very well in the post offices."

Piazza also says that he believes the stamp is popular among everyone, not just the Chinese.

"They're based on oil paintings that are specially commissioned just for these stamps. So, they're not reproductions of artwork that are featured somewhere else. They're actually created specially for this series. They're really beautiful. And I think people like to collect them."

With a purple background, the stamp has two red peonies on it, with the Chinese character "Hou," which means monkey, on the left corner.

This series of stamps was designed by Chinese American Kam Mak.

It is the second series in the history of the USPS to celebrate the Lunar New Year.

PROMO HERE

China's cabinet guideline affirms urbanization drive

The State Council is urging local governments to register migrant workers as urbanites and encourage farmers to buy homes in cities.

According to a new guideline, with the exception of a few mega-cities, rural migrants should be allowed to register as residents in the cities where they work.

The Chinese government is set to grant 100 million rural migrants urban household registrations by 2020.

The State Council also calls for better home financing options, saying those should be put in place for low-income groups including migrant workers.

China pledges to cut coal and steel overcapacity

Anchor:

The State Council has announced plans to cut steel production in China by 100 million tons over the next five years.

The country will also not approve any new coal mines before the end of 2019.

This move is aimed at curbing overcapacity in the two sectors.

CRI's Victor Ning has more.

Reporter:

As the world's largest coal producer and consumer, massive coal production has powered China's economic advance over the past few decades.

But shrinking domestic demand amid an economic slowdown has made much of this capacity redundant.

Wang Xianzheng, Chairman of the China's China Coal Industry Association, says China is facing its highest-ever coal inventories.

"Due to declining market demand, inventories keep rising. China now has more than 300-million tons of coal inventories. This has reached a historically high level. Meanwhile, the drop in coal prices has led to a significant amount of defaulted payments to coal companies, which has brought difficulties to their business."

Ninety percent of the companies in the coal industry are now suffering loses.

The same glut has also been felt in China's steel industry, especially in the past two years, as world steel demand contracted.

According to China Iron and Steel Association, China's crude steel production capacity is about 1.2 billion tons with output falling 2.3 percent last year.

Li Xinchuang, head of China Metallurgical Industry Planning and Research Institute, says that steel prices are much lower than that 20 years ago.

"The decline of consumption will lead to an oversupply and disordered competition in the market. The steel price has sunk to its lowest point in history, nearly 40 percent lower than the price index in 1994. Nearly half of the member companies of the China Iron and Steel Association now face losses. The total deficit hit 72-billion yuan in the first ten months of last year."

Li Xinchuang says if the situation continues to worsen, some companies face production halts or even closures, which will lead to huge financial losses as these firms default on loans.

To address the problem, Yang Weimin, vice director of the Office of the Central Leading Group on Finance and Economic Affairs, says these "zombie" companies, those which have ceased operations but have not formally gone bankrupt, must be shut down.

"If the "zombie" companies are not eradicated, demand stimulation and investment expansion cannot play their proper role in boosting the economy. And high quality companies will be dragged down in the future. We need to firmly shut down those "zombie" companies to balance the demand and supply in the industry and inject confidence in the high quality companies."

To slash the overcapacity, no new steel projects have been given the go ahead since May of 2013.

The country will also shut down 500 million tons of coal capacity and consolidate another 500 million tons into the hands of fewer but more efficient mine operators in the next three to five years.

Resettlement of workers will be a top priority with coal and steel producers set to offer compensation to redundant workers and to pay their unpaid wages.

Relevant authorities have pledged to provide training and employment services to help the unemployed find work and make plans to pay unemployment benefits to those who may lose their jobs.

For CRI, I am Victor Ning.

Beijing takes action to ease downtown traffic

The Beijing government is taking action to ease traffic congestion in the city's downtown area.

The measures mainly include reducing the use of vehicles and solving problems related to disorderly parking.

Rong Jun is the spokesman for the Beijing Commission of Transport.

"Our goal this year is to promote the legislative process of two regulations. One is the regulation on reducing the intensity of traffic; another is a vehicle parking management regulation. We hope to carry out the regulations as early as the first half of 2017."

Meanwhile, Rong also says the government will strictly control the quantity of roadside parking spaces in business areas, as well as speed up the implementation of electronic toll collection.

"We will increase the quantity of residential parking space but reduce the supply in business zones. At the same time, we are considering an increase to daytime parking fees in downtown areas to ease the traffic."

In addition, Beijing will complete a census of parking spaces.

The city is also looking at infrastructure improvements to improve transportation flow and capacity in the capital.

Two Chinese "Red Notice" corruption fugitives repatriated

Two of China's most wanted fugitives have been repatriated.

Fu Yaobo and Zhang Qingzhao fled abroad more than one year ago under suspicion of jointly embezzling 30 million yuan or 4.5 million U.S. dollars of public funds.

Both of them were returned from the Caribbean state of Saint Vincent and the Grenadines.

Fu was an employee in the labor and social security detachment in Liaoning, while Zhang was a cashier for the same detachment.

Cheng Gang is the Deputy Secretary of the disciplinary committee in Liaoning Province.

"The public funds were wages for migrants. They are owned by our country and our people. We must find the money and get it back. Meantime, we must arrest the two fugitives and bring them to justice."

Fu and Zhang were both featured on an official list of China's 100 most wanted fugitives released in April last year.

Since September 2014, they have been on the run in Thailand, Malaysia, Singapore, Grenada, and Saint Vincent and the Grenadines.

Quadrilateral meeting to finalize roadmap for Afghan talks kicks off in Islamabad

China, the United States, Afghanistan and Pakistan have launched their third round of talks aimed at finding a way to get the Taliban to sit and talk peace with the Afghan government.

Sartaj Aziz, Pakistan's special adviser on foreign affairs, commented on the talks held in the Pakistani capital on Saturday.

"The group will now focus on the early adoption of a roadmap for the reconciliation process and identify the way forward for holding direct peace talks between the representatives of the government of Afghanistan and the Taliban groups as early as possible."

A consensus emerged during previous meetings that there should be no preconditions attached to the possible peace talks.

The Taliban have refused so far to hold talks with the Afghan government, instead demanding to talk first to the Americans to discuss the withdrawal of foreign forces.

Earlier, Taliban negotiators listed some preconditions, including the opening of their political office in Doha, the removal of the travel ban on their leaders, and the release of Taliban prisoners.

Chinese FM Visits Namibia

Anchor:

Chinese Foreign Minister Wang Yi has visited Namibia, the last stop of his four-nation tour in Africa which has already taken him to Malawi, Mauritius and Mozambique.

CRI's Luo Wen has more.

Reporter:

The Chinese Foreign Minister visit to Africa aims to implement the 10-point China-Africa cooperation plan proposed by Chinese President Xi Jinping at last year's Johannesburg China-Africa Cooperation Forum.

During his meeting with Namibian President Hage Geingob, Wang Yi stated the priorities for China's future cooperation with Namibia.

"In the future, China-Namibia cooperation will focus on several areas such as wind and solar power generation, marine and port collaboration, agriculture, technology, and mining. The two countries can work together in these fields to help Namibia find new economic growth engines, ensure food security and better utilize the country's rich natural resources."

For his part, Geingob says Namibia and China are good friends and economic cooperation with China will certainly be beneficial to his country.

"Namibia is one of the few countries in Africa that China would like to have very useful economic cooperation. Cooperation in industrialization, industrial parks and also transferring technology and most importantly creation of jobs. So with that I am told that you have very fruitful discussion with your counterpart. We are very happy for that."

One of the key projects is the Husab Uranium Mine which has been jointly developed by Guangdong Nuclear Power Company and the China-Africa Development Fund.

The mine is expected to make Namibia the world's second largest uranium producer and exporter when it goes into full production later this year.

Namibia's Deputy Prime Minister Netumbo Ndaitwah says projects like this will accelerate industrialization and improve Namibia's self-development capability.

"The government assistance in foreign direct investment to Namibia was prominent in 2014 with the Chinese investment of close to 5 billion U.S. dollars in Namibia's Husab Uranium Mine. It is a testimony of the fact that the quality and quantity of China in Namibia start to grow in stature. Namibia believes going forward that our two countries will benefit from a structure and framework that through the conception of negotiations and implementation of bilateral projects between the two countries."

Prior to his visit to Namibia, Foreign Minister Wang Yi also made stops in Malawi, Mauritius, and Mozambique.

Wang has engaged in talks with government officials of the three countries on enhancing ties and deepening cooperation in areas including manufacturing, infrastructure, agriculture and finance.

For CRI, this is Luo Wen.

UN chief says 34 militant groups pledged allegiance to IS

UN Secretary-General Ban Ki-moon says 34 militant groups worldwide have reportedly pledged allegiance to the Islamic State extremist group as of mid-December.

The top UN official reveals the numbers in a report examining the challenges the IS poses to international peace and security.

Ban Ki-moon describes the threat as "unprecedented" as militant groups from countries like the Philippines, Uzbekistan, Pakistan, Libya, and Nigeria have pledged allegiance.

He further adds that the emergence of IS has been facilitated by the conflicts in Iraq and Syria.

He calls on UN member countries to be prepared for a further increase in the number of foreign terrorist fighters traveling to other countries on the instructions of IS.

Twitter suspends 125,000 terrorism-related accounts

Twitter has suspended 125-thousand accounts, mostly linked to the Islamic State terror group, since the middle of 2015.

The US-based social media network says its policy does not permit the promotion of terrorism.

A report released by a Washington-based think tank showed the IS had 46-thousand active Twitter accounts over a three-month period in 2014.

The pressure for Twitter to curb propaganda by the IS and other extremist groups comes from the U.S. government as well as non-government groups.

Foreign ministers from across Europe gather in Amsterdam for talks on migrant crisis

Foreign ministers from across Europe are arriving in Amsterdam for talks regarding the ongoing migrant crisis.

Federica Mogherini, European Union High Representative for Foreign Affairs and Security Policy explains.

"We will have this morning a session with the ministers, not only with the European Union but also of all candidate countries on migration. I expect we will have a substantial exchange realising that this is an issue that is crucial for all of us, none excluded, and this shows that we have to act united."

The continued influx of refugees is imposing great pressure on European countries, especially those on the southern border.

According to the UN, over 70,000 refugees and migrants have reached Europe by sea so far this year.

David Cameron Visits Denmark Over British Membership in EU

British Prime Minister David Cameron visited Denmark on Friday to seek support for keeping Britain in the European Union.

EU members will discuss British membership later in February, while a referendum regarding the matter will take place this June.

Cameron says several conditions need to be met to secure a vote in a favor of keeping Britain in the EU.

Among them are more powers for national parliaments and a pact to allow Britain to delay paying benefits to foreign EU citizens.

Danish Prime Minister Lars Lokke Rasmussen says he hopes Britain will stay in the EU.

David Cameron's visit to Denmark followed an earlier meeting in Poland, where he reiterated his support for British membership in the EU.

Zimbabwe Declares State of Disaster Amid Severe Drought

The World Food Programme has acknowledged the timeliness of a state of disaster in Zimbabwe, in the wake of a severe drought in the country.

The programme's Zimbabwe Country Director Eddie Rower made the statement on Friday.

Zimbabwe's President Robert Mugabe declared a state of disaster in the country's rural areas on Thursday.

Rower said the declaration will speed up the implementation of a response plan by the World Food Programme.

About a quarter of Zimbabwe's 13 million people are in need of urgent food aid.

An El-Nino related drought has ravaged the country.

Classic Ferrari sports car sold for record price

A rare and historic Ferrari race car has sold for a record price of 32 million euros or 35.7 million US dollars, at an auction in Paris.

It was bought by someone from the United States.

Auction organizers say the red 1957 Ferrari "Sport Scaglietti" (sky-yeti) is one of the most iconic racing cars in motorsport and the specific vehicle sold is one of only four ever produced.

Matthieu Lamoure, managing director of Artcurial Motorcars Auction House, who organized the sale, says the vehicle is a "master piece."

"I'm so happy because this is effectively the world record for a car sold in Euros. It is a fabulous price ?32 million for such a master piece. It is a lot of money, but it is the real price I think, and we are very honoured to have done all this work to reach such a price. The car leaves France, our country, of course and will go to the United States."

The 1957 model was driven through the iconic 12 Hours of Sebring race that same year, and the grueling endurance test of the 24 Hours of Le Mans.

The organizers say some of the world's greatest racers have sat behind the wheel

Weather

Beijing will be clear tonight with a low of -6; sunny tomorrow with a high of 8.

Shanghai will be clear tonight with a low of 0; cloudy tomorrow with a high of 8.

Chongqing will be cloudy with a low of 5; sunny tomorrow with a high of 16.

Lhasa, cloudy tonight with a low of -1; also cloudy tomorrow with a high of 15.

Elsewhere in Asia,

Islamabad, cloudy tomorrow with a high of 21.

Kabul, cloudy, 2.

Down in the Southern Hemisphere.

Sydney will have some clouds, highs of 25.

Brisbane, slight rain, 27.

Perth, sunny, 37.

And finally Auckland will be cloudy with a high of 28 degrees Celsius.

Headline News

Chinese Foreign Minister expresses China's position on situation of Korean peninsula

Chinese Foreign Minister says North Korea's planned satellite launch using ballistic missile technology will not be recognized by the international community, but only further complicates the situation in the Korean Peninsula.

Wang Yi made the remark during his visit to Namibia.

The Chinese diplomat describes the current situation as coming into a negative cycle that harms the interest of every party concerned.

He adds that the suspension and refusals to resume the Six-Party talks is the major reasons that results into the escalating tension.

Reaffirming Beijing's commitment to the denuclearization on the Korean Peninsula, Wang Yi called for all parties to solve the problem by negotiations instead of sanctions.

7 died in Taiwan earthquake

Seven people have died and hundreds of others injured after 6.7-magnitude earthquake jolted Taiwan early this morning.

The quake damaged several buildings, causing at least one collapse. Rescuers have saved more than 220 people from the debris.

The Tainan government has set up a disaster prevention emergency center for the relief work.

The quake has delayed trains in southeast China.

Premier Li Keqiang sent condolences to Taiwan compatriots for the disaster.

Chinese mainland authorities have offered rescue assistance to Taiwan.

Rescuers conclude 13 trapped Shandong miners are dead

The operation to find 13 miners trapped in a collapsed gypsum mine in Pingyi County, Shandong Province on December 25th was called off today.

Rescuers conclude there is no chance of any of the workers still being alive 43 days after the incident.

Eleven miners were saved on the day of the incident and one was confirmed dead.

Another four were lifted through a newly drilled rescue shaft one month later.

The investigation of the collapse is still underway.

US Health Officals issue guidelines for Zika Transmission

U.S. health authorities have issued guidelines to prevent the sexual transmission of the Zika virus.

They advise men who have traveled to outbreak areas to use condoms during sex with pregnant women.

The guidance also suggests that these men might consider abstaining or using condoms even with a partner who isn't pregnant.

It does not recommend that men without symptoms be tested for the virus.

In Brazil, health officials are investigating a possible connection between the virus and babies born with brain defects and abnormally small heads.

Foreign ministers from across Europe gather in Amsterdam for talks on migrant crisis

Foreign ministers from across Europe are arriving in Amsterdam for talks regarding the ongoing migrant crisis.

The continued influx of refugees is imposing great pressure on European countries, especially those on the southern border.

According to the UN, over 70,000 refugees and migrants have reached Europe by sea so far this year.

Weekly Biz Roundup (Saturday)

Anchor:

Time now to take a look at the major stories which have been making business headlines in China.

In our Weekly Business Review, we will have a look at China's reaction to the signing of the 12-nation Trans-Pacific Partnership.

This week has also seen ChemChina acquiring a controlling stake in the Swiss agricultural chemistry giant Syngenta.

Here is CRI's Wenjie.

Reporter:

China's Ministry of Commerce says the Trans-Pacific Partnership or TPP is an extensive agreement.

China is not one of the 12 nations to have signed the deal in Auckland, New Zealand on Thursday, but officials here are now studying the document and evaluation work is under way.

The United States and Japan are among the nations to sign the agreement.

Trade representatives say the deal will set trade standards that could be expanded to other nations including China.

Malaysian Minister of International Trade and Industry Mustapa Mohamed says signing the TPP will not jeopardize the trading relationship between his country and China.

"For many of our TPP countries, China is the biggest if not one of the biggest trading partners. There is a concern expressed in my country, Malaysia. And to that, our response has been China is now our biggest trading partner and we don't see that to change in the next few years. China being a big economy, indeed China is a very important economic player in the region."

The Chinese Ministry of Commerce also issued a statement following the signing ceremony, saying Beijing hopes the various free trade arrangements in the Asia-Pacific region will complement each other and jointly contribute to trade, investment, and economic growth.

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.

Lagarde says 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.

The latest figures show that China's service sector shrunk in January, while factory activity continued to contract.

The official purchasing managers' index or PMI for the non-manufacturing sector came in at 53.3, down from 54.4 in December.

Readings above 50 indicates expansion.

Cai Jin, deputy director of the China Federation of Logistics and Purchasing, says the figure was affected by the recent volatility in the stock market.

"Recently, in the capital market, especially in the securities market, the short-term volatility of the stock market affected the index of the financial industries. As a result, non-manufacturing purchasing manager's index fell in January."

The National Bureau of Statistics says businesses in the retail, travel, catering, and transport sectors remain strong, thanks to the upcoming Spring Festival.

At the same time, manufacturing PMI was posted at 49.4 percent in January, a contraction for the sixth straight month, signaling persistent weakness.

The index was also at its lowest level in three and a half years.

Zhao Qinghe, an expert from the NBS, attributed the decline to the holiday season.

"As shown by past data, the manufacturing PMI in January usually drops due to seasonal factors such as New Year's Day and the Chinese Lunar New Year, when market demand slows down."

Zhao added that the retreat is being caused by China's efforts to seek new growth engines and trim industrial overcapacity.

China has eased curbs on investment for Qualified Foreign Institutional Investors in an effort to further open capital markets and improve convertibility of the Chinese currency.

Under the new rules, participants in the QFII program will be allowed to invest a base amount which is decided by a formula linked to their assets under management.

Previously, China's Foreign Exchange regulator only granted quota approvals to QFIIs on a case-by-case basis.

Meanwhile, the capital lock-up period for QFII redemptions has been cut to three months, from one year.

The new rules took immediate effect on Wednesday.

China's central bank is moving to stimulate the housing market in certain parts of the country.

Under new regulations, minimum down payments for people buying their first home will be reduced.

The People's Bank of China has announced that down payments for those buyers, financed by loans from commercial banks, will stay at a minimum of 25 percent "in principle."

However, in some cases, the minimum down payment can be lowered to as little as 5-percent.

Zhao Xijun, professor at Renmin University of China, says the new policy will benefit both the home buyers and local governments.

"For the general public, they will have easier access to new homes and better living conditions. As for the government, the policy will help to relieve the burden of property inventory in many areas and cities."

Beijing, Shanghai, Guangzhou, Shenzhen and Sanya are currently the 5 cities in China which have restrictions on home purchases.

New home prices are beginning to rebound again after months of declines, mostly in southern China.

China's National Chemical Corporation - ChemChina - has offered to acquire a controlling stake in the Swiss agricultural chemistry giant Syngenta.

The total value of the purchase is estimated at over 43 billion US dollars.

If the deal goes ahead, it would be China's biggest ever outbound takeover deal.

Syngenta's chairman Michel Demare says ChemChina would be an ideal partner to accelerate the next phase of Syngenta's development in China and in other emerging markets.

"This is a deal for growth, growth in sense of a long-term commitment to innovation and market position, and a deal that will at the same time open for Syngenta much better access to China, which is in great need of technology upgrades which we will be able to provide."

Syngenta remains the largest European producer of hybrid seeds and crop protection products.

ChemChina would maintain Syngenta's operations and retain its headquarters in Basel, Switzerland.

Chinese smartphone maker Xiaomi has denied reports that its products will debut in the US.

Earlier, media reports suggested that US Mobile would import a range of Xiaomi handsets and would be selling them online from this week.

However, the imported products will not include Xiaomi's latest devices, such as the Mi Note.

Later, a Xiaomi spokesperson went on-record saying that the company had no plans to sell smartphones through any authorized distributors in the US, and US Mobile had not been authorized to sell Xiaomi products.

The spokesperson added that Xiaomi only offers a small selection of accessories for sale in the US through Mi.com at this moment.

Xiaomi is the world's fourth biggest smartphone maker, and launched an online store for US customers last year.

It has also been reported that US Mobile will sell a handset from another giant Chinese manufacturer, Meizu.

Shanghai Disney Resort has released its ticket prices, and the cost of admission will be the lowest among all of Disney's parks and resorts globally.

Tickets for Shanghai Disneyland are set at 499 yuan or 75 US dollars for the grand opening period which is from June 16th to 30th. That will also be the price for weekends and holidays.

The regular price during off-peak periods will be 370 yuan.

Shanghai Disneyland tickets will go on sale starting on March 28th.

And that wraps up this edition of the weekly business review. Thank you for listening. I'm Wenjie. See you next week.

Sports

CBA/NBA update

In some domestic basketball news:

Let’s touch on the some of the standings and fixtures heading into the CBA play-offs.

Regular season winners Liaoning are taking on eighth-placed Zhejiang.

Xinjiang and the Beijing Ducks carry their rivalry into the play-offs in replays of the season opener.

Xinjiang are the only team that have remained unbeaten in all 19 of their home games this season.

Shandong will play Yi Jianlian and Guangdong.

Sichuan are set to take on halfway leaders, the Zhejiang Lions.

Teams begin their first, best-of-five play-off games in the first round on February 15.

and for a couple big NBA games being played today:

Oklahoma City Thunder will be playing the Golden State Warriors

The Houston rockets will face Portland Trail blazers

and the LA Lakers will go head to head with the San Antonio Spurs

Manchester City to play in China

In some exciting domestic news:

English premier league's Manchester City announced on Friday that they will visit China as part of their pre-season prep.

This news comes after a group of Chinese investors acquired 13 percent of the club's holdings.

Full details have yet to be revealed.

This announcement came as celebratory press release for the Chinese New Year.

The club wants to further emphasize its growing links to China.

Southampton to play West Ham United

and lets Jump into some English Premier league news:

Following his "Manager of the Month" award from January, Southampton's Ronald Koeman is prepping his team for a face-off against West Ham United Today.

During a press conference Koeman spoke about what his team will bring to table when they play league number 6's West Ham.

"It's a tough one to beat. I think they have a great run in away games, big results against big teams... but we know we can beat them because we have good players, we have a good team, we have confidence - and we showed that (for) 45 minutes (in the reverse fixture against West Ham), and we have to show that more minutes during the whole game, and then we have really that confidence that we can beat them."

West ham will be coming into the match with two ties and a win in their last 3 games.

The ties came from Liverpool and Manchester City while the win was from playing Aston Villa.

And for Koeman and his team, they are entering the game after tie'ing former league number 1's, Arsenal and beating teams, Manchester United, West Brom and Watford.

Only time will tell if there confidence will carry over after the game.

Ashley Cole joins LA Galaxy

in some football news from the USA:

Former Arsenal, Chelsea and AS Roma left-back, Ashley Cole has stated that his move to join the LA Galaxy team is purely motivated by pursuing more achievements in the sport.

The 35-year-old went public with the team on Friday during an LA Galaxy press conference.

The conference featured another addition to the Galaxy team, Belgian defender Jelle Van Damme.

After receiving praise from his soon to be teammates, Cole felt the need to let the media know, this move wasn't for "relaxation".

I know it is going to be hard for me, for sure, but I said, I'm happy to be here. I'm going to try to work as hard as I can, change a few views on me being here, and we'll see. Of course I'm a winner. I always want to win. I don't come here to sit on the beach, to rest. I'm here to play football. I am here to work hard. I'm not a diva. I'm not this egotistical guy that comes and thinks he is bigger than anyone. I come here to work as hard as I can."

During the conference Galaxy players like Robbie Keane would refer to Cole as being one of the best left backs in the world.

Another conference could be in the near future for the team as they stated they will also be receiving former AC Milan player Nigel De Jong.

Juan Pizzi is honored to be Chile's new national team coach

in some football news from South America:

A press conference on Friday in Chile announced that Juan Antonio Pizzi will be appointed as Chile's new national team coach.

Pizzi will be replacing former coach Jorge Sampaoli.

The deal has been signed to keep the new coach in his position until after the 2018 World Cup.

Upon accepting his new mantel, Pizzi stated that this was huge honor for him.

"I just want to say that it is a great honour to be selected as the Chile coach. I promise that I will do the job as responsibly as I can - and with great dedication and commitment. I am sure that with the help of the team we will continue to lead the way."

Pizzi would state that his main aim will be to qualify Chile for the coming World Cup.

His debut will be a match against Argentina on March 24th.

NFL commissioner comments on American football's growth

and in American Football news:

The Superbowl is just days away and NFL commissioner Roger Goodell held his annual NFL press conference on Friday.

Goodell spoke about the growing popularity thet American football is seeing around the world

According to the commissioner, the league has already sold out tickets in London for the three games they has scheduled there.

"I'm not surprised based on the past three years. We've seen this every year. Every time we give our UK fans - and I think this is true on a global basis - we give people an opportunity to engage with football on a global basis the fans want more and the key to our strategy several years ago was to give them the real thing - regular season games. And I think that's worked. I think fans have appreciated that. Every year I go back to London I see the fans are more sophisticated, they understand the game more, they're following it more"

On top of the growth seen in the UK, the commissioner stated that south of the border, in Mexico, the sport is gathering a huge following.

Goodell stated that he intends to capitalize on that, giving the fans what they want, more American football.

Entertainment

Final dress rehearsal held ahead of 2016 CCTV Spring Festival Gala

The final rehearsal of the 2016 CCTV Spring Festival Gala was held last night, ahead of tomorrow night's live telecast on the Chinese lunar New Year's Eve.

It is confirmed the gala will present more than 40 programs in total including more than 30 singing and dancing programs and seven language programs.

One program, named "China's beautiful landscape," will be presented by three pop stars - Liu Tao, Gigi Leung and Ruby Lin - from the Chinese mainland, Hong Kong, and Taiwan respectively.

The creative program integrates the elements of popular music with storytelling and ballad singing in the Suzhou dialect.

Chinese actor and pop star Liu Tao describes some details about her performance.

"In the 'China's beautiful landscape' segment, three girls will represent the mountain, the tree and the water. I myself will be the water. Besides singing, each of us will also play different musical instruments. I will play the harp."

Apart from the main venue at the CCTV headquarters in Beijing, there are four other sub-venues for parallel events in cities of Quanzhou, Guangzhou, Xi'an and Hulunbuir in southern and northern China.

The whole duration will be about four and a half hours.

Brazil's Carnival Kicks off Friday.

Brazil's Carnival, one of the world's most recognizable events, has begun.

The event is very much linked to samba, a musical genre.

It was in 1916 that the song, "Pelo telefone," considered the first samba song to be distributed, thrust this genre into the limelight during the first Brazilian Carnival.

The music, marked by energetic drum beats and sensual dance moves, became a passion for the neighborhoods of Rio de Janeiro.

Musicians and dancers from the second-league Samba troupes paraded their way through Rio de Janeiro's Sambadrome.

As is custom, the highlight of the carnival will be a competition among samba schools which will each stage a unique samba piece, depicting a story of historic through song, dance and costume.

The event attracts huge crowds from all over the world every year.

"We don't come here to compete, we come here to party. The school looks good and we are happy and we are well prepared. All we have to do is perform like we rehearsed."

"It is a big responsibility, a big responsibility... But it's so great to be opening Carnival on a right foot. This Carnival will be wonderful."

Participating samba schools will bring together 3,000 to 5,000 musicians and dancers.

The main parades are set for Sunday and Monday nights.

Yanni Talks about New Music "Sensuous Chill"

International music star Yanni has recently released a new album named "Sensuous Chill."

The artist says the new album is designed to create a mood.

"When people hear this album, what I wanted to do is to put them in a mood and I wanted to keep them in that mood for a long, long time and the mood had to be sensuous, it had to be melodious. I wanted it to be sexy. And I wanted, again, I wanted it to last a long time so it's meant to put on repeat and let it play. There's 17 songs on it, 10 of which I've never released before."

The 61-year-old musician is also set to kick off a major North American tour on Feb. 2 with an already sold-out opening night show in Sarasota, Florida. The tour continues through July 22nd. Stops include Atlanta, Denver, Nashville and Los Angeles with more to be confirmed.

The popular recording artist's resume includes more than 40 platinum and gold albums since the 1980s and epic concerts from some of the world's most historic sites, including The Forbidden City, the Taj Mahal, and most recently, the Pyramids.

He has earned Grammy nominations for "Dare to Dream," and the follow-up release, "In My Time." For over two decades, Yanni has been one of the top global touring acts seen by over five million people around the world.

His new album "Sensuous Chill" is now in stores.

Weather

Beijing will be clear tonight with a low of -6; sunny tomorrow with a high of 8.

Shanghai will be clear tonight with a low of 0; cloudy tomorrow with a high of 8.

Chongqing will be cloudy with a low of 5; sunny tomorrow with a high of 16.

Lhasa, cloudy tonight with a low of -1; also cloudy tomorrow with a high of 15.

Elsewhere in Asia,

Islamabad, cloudy tomorrow with a high of 21.

Kabul, cloudy, 2.

Down in the Southern Hemisphere.

Sydney will have some clouds, highs of 25.

Brisbane, slight rain, 27.

Perth, sunny, 37.

And finally Auckland will be cloudy with a high of 28 degrees Celsius.

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

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

Reports out of Japan and South Korea say Pyongyang is speeding up the timeline for a planned satellite launch...

At least seven people have been killed after a strong earthquake on the island of Taiwan...

On behalf of the Beijing Hour team, its Shane Bigham in Beijing. Tune into the next edition of the Beijing Hour. Let's open a window to the world together