新闻纵贯线 The Beijing Hour updated 08:00 2016/02/16（在线收听）

The Beijing Hour

Morning Edition

Bob Jones with you this Tuesday February 16th 2016.

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

Coming up on the program.

China expresses concern over the possible deployment of a US anti-missile system in South Korea.

Engineers in Taiwan warn half of the residential buildings built over 30-years ago face a significant risk of collapse in a strong earthquake

International condemnation after an international aid hospital is destroyed in Syria.

In Business China's currency surges after reassurance from the central bank.

In Sport - Zheng Saisai qualifies for the Dubai Duty Free Championships.

And in Entertainment - A record Valentines Day Box office here in China.

All that coming up in the next hour.

Top News

Chinese, ROK officials to discuss Korean Peninsula issue

The latest round of strategic talks between China and South Korea will be held later on this Tuesday in Seoul.

Chinese vice-Foreign Minister Zhang Yesui and South Korean First vice-Foreign Minister Lim Sung-nam will co-chair the talks.

It's widely expected North Korea's most recent nuclear test and satellite launch will dominate the discussions.

Issues connected to bilateral ties between China and South Korea are also on the agenda.

The last time the two sides sat down in this current format was in 2013 in Beijing.

China Concerned over THAAD, Urges Face-to-face Talks

Ahead of a sit-down between Chinese and South Korean officials later today in Seoul, the Chinese government is expressing its concern over the potential deployment of a U.S. anti-missile system on the Korean Peninsula.

Foreign Ministry spokesman Hong Lei says any deployment of the Terminal High Altitude Area Defense system will be viewed by the Chinese side as a potential threat to its own security interests.

"It is known to all that the THAAD anti-missile system, especially its X-wave radar system, covers far beyond the defensive needs of the Korean Peninsula. It can penetrate deeply into the heart of the Asian continent, which will directly harm the strategic security interests of not only China, but also other Asian nations."

The US and South Korean governments have been discussing the possible deployment of the high-tech system in the fallout from North Korea's latest satellite launch, which the US and South Korean sides view as a covert test of ballistic missile technology.

In making the statement, the Chinese government is calling on the US to start making moves to ease tensions on the Korean Peninsula.

"We've pointed out recently that the focus of the nuclear issue on the (Korean) peninsula is between the United States and North Korea. We urge the United States and North Korea to sit down and have communications and negotiations, to explore ways to resolve each other's reasonable concerns and finally reach the goal we all want reached."

Tensions on the Korean Peninsula have been escallating the past few weeks.

The shut down of the inter-Korean Kaesong Industrial Park last week has become the most recent concern.

Seoul has accused Pyongyang of using the Park to fund its nuclear and missile programmes.

North Korean authorities have responded by deporting South Korean citizens from the North Korean facility, as well as seizing South Korean assets and vowing to militarise the park.

Chinese Experts Warn over THAAD Deployment in South Korea

Anchor

Both China and Russia have expressed serious concerns and strong objections to the possible deployment of the American THAAD anti-missile system in South Korea.

Seoul has been discussing such a deployment in the wake of recent rocket developments in North Korea.

Some Chinese experts believe North Korea may not be the only potential target for the system.

CRI's Luo Bin reports.

Reporter

The "alliance decision" to begin formal talks over a possible deployment of the THAAD missile system in South Korea was announced in the wake of recent satellite launch by the North.

South Korea insisted that the possible deployment will be "only operated against North Korea."

THAAD is a United States Army anti-ballistic missile system designed to shoot down short, medium, and intermediate ballistic missiles as they approach their targets. The missile carries no warhead but relies on impact to destroy the incoming missile.

Yang Xiyu with the China Institute of International Studies said the THAAD system seemed an overreaction, if the only targets were North Korea's missiles.

"A short-range missile from the DPRK is able to cover the entire peninsula and poses a real threat to the south, but it is not something the THAAD is designed to deter."

The U.S. has deployed THAAD units in Hawaii, Guam, and Turkey, and is reportedly in talks with Japan over a possible deployment.

Chinese Foreign Minister Wang Yi spoke out against the latest move in South Korea, suggesting there might be other motives concealed behind the deployment.

"To be very honest with you, it doesn't require experts to know this. Ordinary people would know that the deployment of the THAAD system is not just to defend the ROK, it has a wider agenda and it may even serve the possibility of targeting China."

Professor Yang Xiyu explains that THAAD uses satellite surveillance and advanced long range radar to detect incoming missiles, a capability that could also extend well into China and Russia.

"The THAAD is in fact targeting the ballistic missile systems of China and Russia. Therefore, this deployment is not just a threat to any specific country; it is a threat to the strategic stability of the whole region. Of course it will put China's security at risk."

Piao Guanghai, an expert on Korean Peninsula affairs, believes the possible deployment in South Korea could indeed serve the interests of the United States.

"In general, the tension on the Korean Peninsula is used by the US as a tool to serve its strategies that are aimed at driving a wedge into the relations between China and South Korea, pushing forward with its rebalance to Asia Pacific and enhancing a triangle alliance between itself, South Korea and Japan."

Yang Xiyu with the China Institute of International Studies added that the new deployment in South Korea will not be a quantitative addition to the U.S. missile defense, but an qualitative change that would trigger future changes in regional strategic situation.

But he is confident that China would have its own strategy amid such a threat.

"China will make extra efforts in two aspects, one is to step up the defense budget and improve its self-defense capabilities. The other is about diplomacy. China will strive to realize the goal of denuclearization on the Korean Peninsula while helping maintain peace and stability in the region."

It's reported that talks over any THAAD deployment may start next week.

For CRI, this is Luo Bin.

Australian FM Visits China

The Australian Foreign Minister, Julie Bishop, arrives in Beijing later today for a three-day visit.

High on her agenda in Beijing will be the 3rd Round of China-Australia Diplomatic and Strategic Dialogue.

Bishop is also to hold discussions with the Chinese Foreign Minister Wang Yi over tensions on the Korean Peninsula.

Beijing is the second leg of Bishop's ongoing visit to Asia that also includes Japan.

Countermeasures against North Korea's rocket program was a key part of her talks in Tokyo.

First train from China to Iran stimulates Silk Road revival

The first train connecting China and Iran has arrived in Tehran.

It's delivered 32 containers filled with products delivered from the eastern Chinese province of Zhejiang.

The 14-day trip covers some 95-hundred kilometers through Kazakstan and Turkmenistan.

The monthly train delivery cuts around 30-days off ocean deliveries from Shanghai to the Iranian port of Bandar Abbas.

The train set off from Zhejiang just days after sanctions against Tehran were lifted following the completion of its nuclear accord, and just a month after a visit to Tehran by Chinese President Xi Jinping.

During his time there, Xi Jinping and Iranian President Hassan Rouhani laid-out a goal of forging economic ties worth 600 billion US dollars a year in the next 10 years.

More than one-third of Iran's foreign trade is with China.

China is Tehran's top customer for oil exports.

The creation of the rail service between China and Iran is part of the Chinese government's long-term "Silk Road" economic initative.

Tainan Prosecutor's Office Continues Collecting Evidences of Collapsed Building in Earthquake

Warnings are being issued in Taiwan about the state of many of the buildings on the island.

Engineering experts attending a forum in Taipei this week have warned that over half of the residential buildings across Taiwan built over 30-years ago and face a significant risk of collapse in a strong earthquake.

The warning comes on the heels of the 6.7-magnitude earthquake near the city of Tainan in southern Taiwan which left 116 people dead.

All but two of those killed were in the 16-story Wei Guan building in Tainan, which collapsed during the quake.

The Wei Guan building is one of a number of buildings in Tainan which suffered significant damage due to the quake.

Tainan Mayor Lai Ching-te says at least two of the buildings damaged in the quake are going to have to be torn down.

"Soil liquidation will make houses tilt. This house before us has been evaluated by professors and architects, and it cannot be reinforced by grouting."

Three people responsible for the Wei Guan building's construction have been arrested amid revelations substandard cement and other building materials were used in its construction around 30-years ago.

Engineers in Taiwan have warned that many of the buildings put up across the island during the 1980's may have been constructed with the same safety defects.

No Special Investigation Team to be established for Hong Kong Riot: Hong Kong Government

The Hong Kong government has said it sees no need to set up a special investigation team to look into the recent rioting in the Mon Kok district.

In a statement, it condemned the action as a serious violent incident, adding that the police were investigating, to get the rioters arrested and see justice done.

It also said citizens in Hong Kong could exercise freedom of speech and were allowed to express their opinions through proper channels. It said they also had the right to review the administrative decisions through judicial prodedure.

The statement expressed the government's will to be open to demands from all walks of life in society with an aim of benefitting the overall wellbeing of its citizens.

It reiterated that no one should be allowed to express such demands through illegal or violent acts.

China Confirms Second Imported Zika Case

A second imported case of the Zika virus has been confirmed in China.

The 28-year-old patient was red-flagged at the Baiyun International Airport in Guangzhou on Friday after arriving with a high fever.

Authorities later confirmed the patient, whose identity and nationality has not been revealed, was exposed to an infected person in Venezuela days before returning to Guangzhou on February 9th via the Netherlands and Russia.

The patient is still quarantined, but has shown signs of recovery, with temperatures returning to normal.

China's first exposure to Zika, a Chinese national who also returned to China from South America earlier this month, was discharged from hospital on Sunday after a full recovery.

Disease prevention experts in China say the spread of Zika, a mosquito-borne virus, is relatively low in China at this point, as the winter months keep the mosquito population low.

Zika causes only minor flu-like symptoms in adults.

However, researchers believe the virus is the likely factor behind a sharp rise in cases of microcephaly - newborns with abnormally small heads.

"Overpriced Fish" Triggered Public Discussion on Social Media

Anchor

The issue of "overpriced fish" in Northeast China's Harbin, Heilongjiang Province, has become the subject of heated public discussion, after a restaurant customer posted his bill on social media.

For more on this, CRI's Huang Shan reports.

Reporter

A customer surnamed Chen from Changzhou, Jiangsu Province, claimed he was charged over ten thousand yuan for a fish feast during a visit to a wild fish village in Harbin city.

A bill posted by Chen on his Sina Weibo account shows the price of the Huso sturgeon he purchased at the restaurant was as high as 796yuan per kilogram.

Mr. Chen spoke gave more details about his experience in a phone interview.

"I think the restaurant mislead us on the weight of the fish. They first told us the Huso sturgeon was 5.2 kilogram. But when we checked out the bill, the fish's weight showed on the receipt was 7.2 kilograms. After we questioned the price, the restaurant staff clashed with us. Then we called the police."

In response, the manager of the restaurant, Zhao Ling, said their pricing system was transparent and reasonable.

"After customers order the fish, we clearly tell them the price per kilogram. You can also see a fixed price list on the wall. Then we'll bring the customers to weigh the fish, check the kilograms and price with them. In Mr.Chen's case, we gave him a discount over 3,000 yuan to settle the dispute, which means we only charged him the cost price in total of 7,200 yuan. So his claim of spending over ten thousand yuan on the meal was not true."

Though Mr. Chen soon deleted the post of "overpriced fish" on the social media, his experience has triggered an investigation by the local price bureau into the case.

Sun Baisen, director of Harbin Market Supervisory Authority says the investigation confirms the fish was sold at reasonable price.

"Through our investigation into the restaurant involved, their pricing system and standards are in accordance with laws and regulations. By checking the final receipt, we found Mr. Chen's claim is inconsistent with the actual consumer spending and weight of Huso sturgeon."

He added that after checking the surveillance video, the authority found Mr. Chen's accusation that there was a physical altercation involving restaurant staff did not fit the facts.

Sun Baisen indicated they are still trying to contact other customers, in order to get further evidence to ascertain the truth.

Unreasonable charges in China's catering industry has along been a target of public criticism, especially during holidays.

An open-air restaurant in Qingdao, Shandong Province, was found to charge a customer over 1,500 yuan for a dish of shrimp during last year's National Day holidays.

It was fined 90,000 yuan with its license suspended at last.

For CRI, this is Huang Shan.

Aid Group MSF's Hospital Hit By Rockets, At Least 8 Staff Missing

A hospital supported by Medicins Sans Frontieres - Doctors without Borders, has been attacked in northwestern Syria's Idlib Province, leaving at least eight staff missing.

Another hospital 75 miles away was also reportedly attacked.

Altogether the attacks have claimed the lives of at least 9 people.

The European Union's top diplomat Federica Mogherini has strongly condemned the assault.

"What happened today to the hospital of Medecins Sans Frontieres, is completely unacceptable and we will continue to pressure all the parties to respect basic principals of humanitarian law and focus on the protection of civilians. In the same spirit, the European Union is taking a fundamental role in the task force that has started already to work in Geneva, in these days, on humanitarian delivery."

The Syrian Observatory for Human Rights, an London-based anti-government activist organisation says the shelling was the result of Russian airstrikes, a claim that cannot be independently verified.

Russia has been conducting airstrikes on targets inside Syria since September.

The country has been accused of hitting civilians and residential areas inside Syria, which Moscow has denied.

Much of Idlib fell to the rebel group of Jaish al-Fateh, or Conquering Army, late last year. The al-Qaida-linked Nusra Front is a main faction of the group.

EU Foreign Ministers on Efforts to Stall Fighting In Syria

Foreign ministers from the European Union have renewed calls for an end to hostilities in Syria, following the attack on a hospital supported by the Medicin Sans Frontiers International aid organization.

Speaking after talks among EU foreign ministers in Brussels, ministers were united in calling for a cessation of hostilities to be observed, except for specific action targeting the Islamic State group and Al Nusra Front.

Swedish Minister for Foreign Affairs Margot Wallstrom called on all nations to put their words into action to bring an end to conflict in Syria.

"We are both hopeful and still a bit in the mood of wanting to see a move from words to deeds and after five years of war and fighting and suffering of the Syrian people it's about time that we see also change to the better, meaning that there is a cessation of hostilities and also access to humanitarian assistance, that's the most important."

Also at the meeting, the EU lifted most sanctions against Belarus.

In addition asset freezes and travel bans imposed on President Alexander Lukashenko and 169 others have also been removed.

An arms embargo is to remain in-place for another year.

Ukraine Bans Russian Trucks Across It Territory

Ukraine has banned the transit of Russian trucks across its territory in a tit-a-tat response to a Russian ban on Ukrainian trucks.

Russian Prime Minister Dmitry Medvedev described Ukraine's action as against international rights of transportation.

"This is a disgrace. It is a violation of all international rights of transportation. We should answer this in the proper way. It is impossible to endure this disgrace. So these counter-measures that were introduced to motivate the Ukrainian side to sort this situation out, should be used as additional controls now for any type of transport that comes from the territory of Ukraine."

Earlier, Russia detained 152 Ukraine-registered trucks and banned Ukraine-registered cargo vehicles from entering its territory.

The Ukrainian government called Russia's decision a violation of the World Trade Organization's rules and procedures and bilateral intergovernmental agreements.

Relations between the countries have deteriorated since the annexation of Crimea and war in parts of eastern Ukraine.

Since hostilities began, the two countries have imposed a series of sanctions on food imports on one another, and halted direct air flights between the countries.

Russia Confirms First Imported Zika Case

Russia has confirmed its first case of the Zika virus.

The infected woman had visited the Dominican Republic. She's said to be in satisfactory condition in an infectious diseases hospital.

It's been confirmed the patient's family members have tested negative for the Zika virus.

Russia has been monitoring individuals coming from countries troubled by vector-borne infections on a weekly basis since the beginning of 2016.

Inspection measures have been enhanced since Monday at the country's airports and at sea border crossing points, looking for signs of infectious diseases.

Russia's disease control department said Zika is not likely to spread in the country considering the local climate conditions.

The Zika outbreak has reportedly so far affected more than 30 countries around the world.

Demand for Citronella Candles Rises amid Zika Outbreak in Brazil

Anchor

Brazil has seen a surge in demand for citronella candles as a natural repellent against mosquitoes carrying the Zika virus, as a public health emergency spreads across the Americas.

CRI's Luo Wen has more.

Reporter

The World Health Organization has stressed mosquito bites are responsible for almost 100 percent of Zika virus cases.

This has led to panic buying of insect repellent across Brazil, amid the country's Zika outbreak.

Brazil's biggest retailer, the Pao de Acucar Group, says supermarket sales of repellant were up 120 percent in the first weeks of this year, in comparison to the same period a year ago.

The rise is sharpest in the Northeast region at the center of the outbreak, where sales rose fourfold, and in Brazil's second city of Rio de Janeiro, where they tripled.

At the same time, a similar trend has been seen regarding citronella candles.

Antonieta Cunha, owner of AD Candles, says citronella provides a natural alternative to spray repellents.

"Citronella candles are the best option in the market right now. In comparison to other chemical products, the candle is a natural repellent against the mosquito which carries dengue, chikungunya and Zika, against all insects."

The candle factory adds that demand for citronella products has risen by 25 percent since the start of the epidemic.

AD Candles' owner Antonieta Cunha says the spike in demand has significantly affected her production pattern.

"Citronella candles used to make up a very small portion of our turn over, but after everything with dengue and Zika, there was much greater demand, so we have had to meet this demand and produce more citronella. It went from five percent of our turnover to 25 percent, so each month I work a whole week producing only citronella in order to supply my city and other states."

Locksmith, Claudionor da Silva, says using citronella candles is another good way for residents to protect their homes.

"It is an option to tackle the problem we have with the Zika virus, it is something we can use at home and it works well to scare off the mosquito which is causing the population so much harm."

Much remains unknown about Zika, including whether the virus actually causes microcephaly, a condition marked by abnormally small head sizes among babies that can lead to developmental problems.

Brazil is investigating the potential link between Zika infections and more than 43-hundred suspected cases of microcephaly.

Researchers have confirmed more than 460 of these cases as microcephaly, and identified evidence of Zika infection in 41 of these cases, but have not yet proven conclusively that Zika can cause microcephaly.

For CRI, this is Luo Wen.

Laser Crackdown Calls after UK Flight Incident

Virgin Atlantic Airways says it is working with investigators to identify the source of a laser beam that forced a New York-bound flight to return to London on Sunday evening.

Flight VS025 decided to return to London's Heathrow Airport after light from a laser was beamed into the cockpit.

Police say that no arrests have been made as yet.

Lasers can cause a temporary loss of sight that persists even after the light is moved.

Following the incident, the British Airline Pilots Association called for tougher legislation to crackdown on the use of lasers.

Dave Smith, Former pilot and member of British Airline Pilots Association, says the organization wants British authorities to classify lasers as offensive weapons.

"These laser attacks are very, very serious. They have the potential to cause an aircraft accident and at the moment the legislation is almost useless. What BALPA is calling for are for lasers to be classed as an offensive weapon, for the government to change the legislation such that anybody found carrying one of these lasers, unless they have a legitimate reason for carrying one, they can be prosecuted."

Civil aviation authorities in Britain say there were 414 such incidents in the first half of last year and some 1,440 in 2014.

UAE Cabinet Ministers Sworn in

The United Arab Emirates has announced the country's 29 newly appointed Cabinet ministers.

Ohood Al Roumi has been sworn in as the country's first ever "minister of state for happiness".

She is one of seven women named to posts in the Cabinet.

22-year-old Shamma Al Mazrui has been named Minister of State for Youth Affairs.

Abdulkhaleq Abdulla, with United Arab Emirates University, says the move shows how the country cares about young people.

"This is an indication of how the country really cares and caters for the young and it doesn't mind giving a whole ministry to a youth and what better to head a youth ministry than a lady who is 22 years old. I think it is a perfect choice, for me."

Sheikha Lubna Al Qasimi, previously minister for foreign trade, has been named as Minister of State for Tolerance.

Many powerful officials have kept their jobs under the Cabinet restructure, including the ministers of interior and foreign affairs, who hail from the ruling Al Nahyan family of Abu Dhabi, the federal capital that also controls the presidency.

The Cabinet announcements come two days after Sheikh Mohammed outlined plans to privatize some public services and merge a number of government ministries.

Weather

Beijing will be sunny with a high of 8 degrees Celsius.

Overnight temperatures should drop down to minus 4.

Shanghai will be sunny with a high of 10 and a low of 2.

In Chongqing, it will be overcast with a high of 10 and lows of 6.

Elsewhere in the world, staying here in Asia,

Islamabad will be cloudy with a high of 21.

Kabul will be overcast with a high of 3.

Over to North America,

New York will see moderate rain with a high of 15 degrees.

Washington, moderate rain with a high of 13 degrees.

Honolulu, slight rain, 27.

Toronto will see sleet with a high of 0 degrees.

Finally, on to South America,

Buenos Aires will have slight rain with a high of 36.

And Rio de Janeiro will see slight rain with a high of 33 degrees Celsius.

Headline News

Chinese, ROK Officials to Discuss Korean Peninsula Issue

The latest round of strategic talks between China and South Korea will be held later on this Tuesday in Seoul.

Chinese vice-Foreign Minister Zhang Yesui and South Korean First vice-Foreign Minister Lim Sung-nam will co-chair the talks.

It's widely expected North Korea's most recent nuclear test and satellite launch will dominate the discussions.

Issues connected to bilateral ties between China and South Korea are also on the agenda.

The last time the two sides sat down in this current format was in 2013 in Beijing.

Former general manager of China Southern Airlines under probe

A former General Manager of China Southern Airlines has been officially put under criminal investigation for allegedly accepting bribes.

Si Xianmin is currently subject to so-called coersive measures.

This can include release from detention through bail, house arrest, residential monitoring or continued detention.

The allegations against Si Xianmin have not been made clear.

The former Chinese Southern boss resigned from his posts last month, two months after it was first revealed he was under investigation as part of the CPC's wide-ranging crackdown on Party corruption.

China Southern Airlines is one of China's "Big Three" airlines, alongside Air China and China Eastern.

China Southern is Asia's largest airline in terms of both fleet size and passenger volumes.

SW China Forest Fire Kills 1, Injures 6

One firefighter is dead and 6 others hurt while trying to put out a forest fire in Yunnan.

The fire broke out on Sunday afternoon in an area outside the famed city of Shangri-La.

The victims were caught up in the fire after the winds suddenly shifted.

Initial reports suggest the fire was sparked by someone trying to clear scrub land by burning it.

That individual is being held for questioning by police.

Wechat to Charge Users for Cash Withdrawal

Tencent has confirmed it plans to charge its WeChat users for withdrawing cash through its system.

Users of the popular messaging app will be charged 0.1-percent for every cash withdrawal transaction through WeChat starting next month.

There will also be a minimum charge of 0.1 yuan for each transaction.

However, WeChat will allow every user to withdraw 1-thousand yuan without a fee at the beginning.

Tencent says the move is not aimed at making a profit, but rather paying fees due to the banks.

Functions on WeChat including Red Packet, Quick Pay and Go Dutch will not be affected by the latest changes.

Turkey Claims It Doesn’t Have Forces in Syria

Turkish Prime Minister Ahmet Davutoglu is rebuffing suggestions Turkish security forces are operational in Syria.

Davutoglu is the second high-ranking Turkish official to refute the reports.

But in making the comments, Davutoglu says Turkish forces will retaliate against Kurdish Militias if they continue assaulting the town of Azaz.

Azaz, on the road between the Syrian city of Aleppo and the Turkish border, has been a key city for forces fighting the Syrian government.

Turkey's government has been accusing Russian forces, which back the Syrian government military, of attacking a school and hospital in Azaz.

Biz Reports

Anchor

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

U.S. stocks closed on Monday for the President's Day.

In Europe, equities added on Monday,

At the close of trading,

The UK's FTSE 100 moved up 2 percent.

German's DAX added 2.7 percent.

France's CAC 40 increased 3 percent.

China's Yuan Firms after Official Reassurance

Chinese currency the yuan surged on Monday after the central bank chief reassured investors there is no basis for persistent depreciation.

The Yuan advanced 1.2 percent from February 5, the previous trading day before the week-long Spring Festival holiday.

The rise dispelled market concerns and came after comments from Zhou Xiaochuan, governor of the People's Bank of China, in an interview with magazine "Caixin."

Zhou said that there was no basis for the continued depreciation of the Yuan and that "China would not let market sentiment be dominated by speculative forces."

The central parity rate of the Yuan strengthened by nearly 200 basis points against the U.S. dollar on Monday.

Analysts expect the yuan to remain stable.

China Bad Loans Last Year

Official data shows that Chinese banks saw more bad loans last year.

The bad loan rates stood at 1.67 percent by the end of last year, up 0.03 points from 2014.

The total amount of bad loans was valued at some 1.3 trillion yuan or close to 200 billion U.S. dollars.

The banking sector raked in net profit of 1.6 trillion yuan in 2015, an increase of 30 billion yuan year on year.

For more on this, we're joined online with Gao Shang, analyst with Guantong Futures.

Questions:

1. Major Chinese banks have taken measures to try to clear the bad loans but we still saw a slight rise. Where do the bad loans come from? How would it hamper the lenders and the economy at large?

2. Earlier, hedge fund manager Kyle Bass estimated that Chinese banks have as much as 3.5 trillion U.S. dollars of bad loans. But others say that the actual number may not be as large, but more than official data. Do you think the official data actually reflects the true credit exposure in the banking sector? What's your take on Bass's bet?

3. China's central bank has also decided to open the bond market to individuals. Would the bond market help reduce the bad loans?

Back Anchor:

That is Gao Shang, analyst with Guantong Futures.

China Suspends Oil Price Adjustment Again

China's top economic planner has announced it will once again suspend any domestic retail oil price adjustments.

Under the current mechanism, prices of refined oil products are adjusted when crude prices are translated into a change of over 50 Yuan or 7.5 US Dollars per ton for gasoline and diesel prices, every 10 working days.

But the National Development and Reform Commission announced last month that China will not cut its fuel prices if international oil prices fall below 40 dollars a barrel.

The move is aimed at buffering the negative effects of price swings.

Apply Pay Comes to China

Apple Pay is coming to China.

The news was announced on the public WeChat account of China Guangfa Bank and China Construction Bank.

Apply Pay will officially come online at 5:00 am, this Thursday.

China is the first country in Asia to open the Apple Pay business, and the fifth in the world, behind the US, Britain, Australia and Canada.

15 domestic banks will support Apply Pay, including the four largest, the Bank of China, the Industrial and Commercial Bank of China, the Agricultural Bank of China and China Construction Bank.

Apple had earlier promised the service would come to China early in 2016.

ECB Ready to Act: Draghi

Media reports suggest the European Central Bank, or ECB, is ready to ease policy further in March amid risks from financial market volatility.

ECB President Mario Draghi said on Monday that the bank would keep an eye on market turbulence and plunging crude oil prices.

They will also examine risks emanating from weaker emerging market growth.

The ECB has missed its inflation target of close to 2 percent for three straight years.

Hong Kong Disneyland Revenue Drops

Hong Kong Disneyland has reported an annual business loss of 150 million Hong Kong dollars, or 19 billion US dollars last year.

Disneyland's revenue stood at 51 billion Hong Kong dollars from October in 2014 to September in 2015, with 600,000 fewer visitors than a year ago.

Hong Kong Disneyland puts the decline down to both less mainland and local visitors.

In addition, the park's hotel occupancy rate was less than 80 percent, about a 1.5-percent drop from the previous year.

Changchun New Area Approved In China

China's State Council has approved a plan to establish the Changchun New Area in the northeastern province of Jilin.

The planned 500-square-kilometer new area is expected to promote the Belt and Road Initiative and economic growth in northeast China.

Changchun has a strong tradition of equipment manufacturing, agricultural products processing, education and research.

Insiders believe the new area will promote structural transformation of the regional economy and help future growth in northeast China.

Shell Completes $50 Billion Acquisition Of BG

Royal Dutch Shell on Monday completed its acquisition of UK based BG Group, in a deal said to be worth roughly 50 billion US dollars.

Shell Chief Executive Ben van Beurden said the combined company will be "more attractive for shareholders," "more resilient" to fluctuating oil prices and "more predictable" for investors.

Shell's reserves dropped 20 per cent last year as low oil prices erased 1.4 billion barrels from the volume of oil and gas it expected to develop.

The BG acquisition will help dampen the impact of that, boosting Shell's production by around 20 percent and increasing its reserves by 25 percent.

The acquisition also means Royal Dutch Shell surpasses Chevron Corp, as the world's second-biggest non-state oil company.

C. China City Bans New Polluting Plants

The central Chinese city of Zhengzhou will approve no new 'high pollution' projects this year, as a means of curbing air pollution.

Steel, cement, plate glass, electrolytic aluminum and nonferrous metals makers are on the banned list.

Local authorities will renovate coal-fired power plants and heating boilers to further reduce emissions.

Zhengzhou, capital of Henan Province, was the fifth most-polluted city among 74 major cities nationwide.

Heavy smog has become a source of public complaints, prompting the authorities to be more serious in their efforts to tackling air pollution.

Sports

Marbury's 29 Points Fail to Save Beijing in CBA Playoffs Opener

In basketball,

The CBA playoffs are officially underway.

Game one of the quarter-finals were played out last night.

Guo Ailun scored a game-high 27 points in the win.

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Xinjiang has also jumped out to a 1-0 series lead with a 117-105 win over the defending Champion Beijing Ducks.

Andray Blatche led the Flying Tigers with 39-points and 16 rebounds.

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The Sichuan Blue Whales have opened their playoffs in decisive fashion, hammering Guangsha 139-98.

Imports Justin Dentmon and Mike Harris combined for 71 points in the victory.

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Chinese veteran Yi Jianlian recorded a double-double with 16-points and 11 rebounds to help Guangdong to a 95-81 win over Shandong.

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The 2nd games in the CBA playoffs are set for tomorrow.

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The WCBA Playoffs get underway tonight.

It's Guangdong taking on Xinjiang, while Beijing battles Shanghai.

Bryant bows out of NBA All-Stars with win, Westbrook named MVP

In the NBA,

Kobe Bryant has marked his final NBA All-Star Game with a lot of fanfare, but little in the way of scoring.

The 37-year old added 10-points in the Western All-Stars 196-173 victory over the East.

Bryant, who is set to retire at the end of this season, checked out of the game with 66-seconds left to a standing ovation from the fans in Toronto.

"It was fun. I mean, I had a blast. You know, playing with those guys and laughing and joking with them on the bench. I got a chance to stop Pau (Gasol) on the post, redeem myself from what he did to me when Chicago came to town. But all those things were just fun. I had a great time. I had a great time."

Oklahoma City's Russell Westbrook was named the All-Star MVP, scoring 31 points.

The offense-dominated game in Toronto set a new record for combined points.

Winter Youth Olympics: Han Mei Get Two Silvers at Winter Youth Olympics

From the Winter Youth Olympics in Norway,

Chinese speed skater Ma Wei has won a silver medal in men's 1-thousand meter final behind South Korea's Hwang Dae-heon.

On the women's side,

Chinese skaters Han Mei and Li Huawei finished second and third in women's 500 meter final.

Han Mei also clinched silver at the ladies' 15-hundred meter event.

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In other action,

The men's snowboard cross event went to 17-year-old Jake Vedder from the United States.

"Yeah, I knew that they were all right behind me so I tried to push them up in the turn a little bit. It didn't work too well so I just had to get my lowest tuck and try to just get to the finish line first and stuck my board out and just won by just a little bit but it paid off so I'm super excited and just speechless right now, it's awesome."

The current medal tally has the United States at the top with 7 gold, followed by South Korea at 6.

11-hundred athletes from 71 different countries are competing at the Winter Youth Olympic Games in Norway.

Tennis: Zheng Saisai Wins Third Qualifier Match at Dubai Tennis Open

In tennis,

Zheng Saisai has managed to earn her way into the Dubai Duty Free Championships.

The 22-year old from Shaanxi has managed to qualify for the tournament following a 7-5, 6-1 victory over American Varvara Lepchenko.

Zheng Saisai will play her first round match later on today against Italian veteran Sara Errani.

In first-round action from Dubai last night,

It was American CoCo Vandeweghe upsetting 6th seeded Karolina Pliskova in straight sets 7-6, 6-1.

The world number 46 will next take on France's Kristina Mladenovic.

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8th seeded Russian Svetlana Kuznetsova is also out after going down to Germany's Julia Goerges.

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Andrea Petkovic had little difficulty in her first round match against Italian Camila Giorgi.

Petkovic won in straight sets 6-2, 6-1, to set up a second round encounter against the winner of the match between veteran Jelena Jankovic and rising Swiss star Belinda Bencic.

Bencic recently broke into the WTA top 10 with her run to the final at the St. Petersburg event, moving up to 9th in the world.

Bencic is the first teenager to crack the WTA top-10 since Caroline Wozniacki did it in 2009.

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On the men's side,

After going down to Austria's Dominic Thiem in the Argentina Open semi-finals last week, former world number one Rafael Nadal is back on-court, practicing ahead of the Rio Open.

"It's always special to be here in Rio. It's a great city and it's an amazing event here being a 500 event for the third year in a row. Happy to be back. I am excited about it and just hope to be ready for the action tomorrow (Tuesday)."

The Rio Open will get underway later on this Tuesday, with top-seeded Nadal up against fellow Spainyard Pablo Carreno.

Nadal took the title in Rio in 2014.

Hindink Looks ahead to Champions League Showdown with PSG

In football,

European Champions League action resumes tonight.

Among the action has Chelsea and Paris Saint-Germain set for the first leg of their round-of-16 clash tonight in Paris.

Chelsea interim coach Guus Hiddink says his side needs to be flexible to counter the threat posed by Laurent Blanc's club.

"His (Blanc's) team are capable of playing either way. They can play a good counter, but also they are now stronger and able to impose a game as well. So we have to find the answer. If we are forced to drop back, we have to, but if you don't take sometimes the initiative, then you can wait on errors and you can wait on what we don't want to happen, so we have to take some initiatives as well."

The other European Champions League match tonight has Benfica taking on Zenit St Petersburg.

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In other football news,

Chinese Super League side Shandong Luneng has announced its going to loan defensive midfielder Ocimar de Almeida Junior to Brazilian club Atletico Mineiro.

The 26-year-old will stay in Mineiro until the end of this season.

The Brazilian has scored 16 goals since joining Luneng in early 2014.

Islanders Top Red Wings; Tampa Announces Stamkos Will Not Be Traded

From the National Hockey League,

As its still the President's Day holiday in the United States, there were a couple of matinee games today on the NHL schedule.

It was Brock Nelson and Ryan Strome each with a goal and an assist to lead the New York Islanders over Detroit 4-1.

With the victory, the Islanders move back into 3rd place in the Metropolitan Division, while 2nd place Detroit fails to make ground on Florida in the Atlantic.

The Panthers, who have lost 2 in a row, play host to the Pittsburgh Penguins later this morning.

In other action,

Dallas looks to extend its lead at the top of the Western Conference as the Stars take on Nashville.

Chicago, which is tied with Dallas at 77-points, but losers of their last 3, will try to right the ship this morning at home to Toronto.

Montreal is in Arizona.

Vancouver is at home to Minnesota, with the Wild hoping to snap an 8-game losing skid.

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Off the ice,

With the NHL trade deadline approaching at the end of the month, Tampa Bay's management has slammed the door on pundits expecting them to trade their sniper and captain Steven Stamkos.

Lightening GM Steve Yzerman has issued a statement, saying the team will not be moving him before the end of the season, putting to rest speculation the 26-year old, who becomes an unrestricted free-agent this summer, could have been moved.

Much of the speculation had been based out of hockey-crazy Toronto, where hockey pundits have been drumming up unfounded anticipation Stamkos could end up as a Maple Leaf, even though the team is currently the worst in the league.

Entertainment

Chinese Box office on Valentine's Day hits record high

China's box office sales totaled 580 million Yuan or some 88 million U.S. Dollars on Valentine's Day, a new record on previous years.

Latest data suggests box offices surged by over 150 percent from the same day last year, which stood at 230 million Yuan.

More than half of the sales were generated by Stephen Chow's comedy-"The Mermaid".

"The Monkey King 2" took the second place with about 95 million Yuan, while "The Man from Macau 3" scored 85 million Yuan to come in third.

The box office surge during the Spring Festival has been given as one reason for the increase with Valentine's Day this year closely following the Chinese New Year holiday, which ended Saturday.

The box office during the Spring Festival holiday totaled 3 billion Yuan or 460 million US Dollars .

Taylor Swift wins pop vocal honors in early Grammys

Taylor Swift didn't have to wait for the main event before tasting Grammy Award success.

She was in the middle of rehearsals for her performance for the evening show when the pre-telecast trophy for the Best Pop Vocal Album award went her way - it was for her best-selling "1989".

Dozens of Grammy Awards are handed out during a pre-telecast before the main show begins at 8p.m. EST.

Guitarist Jack Antonoff, who worked as a producer on the album, accepted the award on her behalf and rang her on her cell phone on stage to give her the news.

Swift is nominated for six other honors, including album of the year - also for "1989".

The 58th annual Grammy Awards will be hosted by LL Cool J and airs live on CBS.

'Game of Thrones' season 6 teaser released

HBO has released a brand new teaser for the upcoming season 6 of Game of Thrones.

(Games of Thrones 6 teaser)

The clip shows disembodied the faces of characters long gone such as Ned and Rob Stark, meeting the faces of the living such as Tyrion Lannister and Arya Stark in a scary hallway.

Jon Snow's face is also included in the lineup of the dead, saying "The long night has come. And the dead come with it."

The clip is set in the House of Black and White - the headquarters of the Faceless Men assassins league and current home of now-blind Arya Stark.

Meanwhile, for the first time since the show started in 2011, the story of the new season goes beyond the events chronicles in George R.R. Martin's 'A Song of Ice and Fire' books, which the show is based on.

The new season premieres on April 24.

'Star Wars: Episode VIII' starts filming

"Star Wars: Episode VIII" has already started filming in London.

Written and directed by Rian Johnson, the "Star Wars" sequel will continue to follow the adventures of inspiring new heroine Rey in J.J. Abrams' box-office smash "The Force Awakens."

Benicio Del Toro, Laura Dern and newcomer Kelly Marie Tranare are joining the cast.

The film is set for release in December 2017.

Rare James Bond memorabilia hits auction block

An auction of James Bond props and memorabilia from the feature film "Spectre" is to take place in London this Thursday.

One of the items is an Aston Martin car, which is expected to sell for more than 1 million pounds at the London auction.

The Aston Martin DB10 was made specifically to be used by Bond in the film.

Meg Simmonds is the Archive Director of EON Productions, the company behind the James Bond movie franchise.

"The car for Bond is part of his working equipment. It's always traditionally been Aston Martin since "Goldfinger" and it epitomizes the character. It is sort of his automotive equal."

Other items on auction include American designer Tom Ford's cream-colored suit worn by actor Daniel Craig.

The tuxedo is expected to make between 20-thosand-30-thousand pounds.　

A total of 24 items of Bond memorabilia will be up for grabs at Christie's auction house in London.

"Spectre", the 24th James Bond film, broke records at the British box office, becoming the UK's biggest cinema opening of all time.

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

Recapping our top stories ...

China expresses concern over the possible deployment of a US anti-missile system in South Korea.

Engineers in Taiwan warn half of the residential buildings built over 30-years ago face a significant risk of collapse in a strong earthquake

International condemnation after an international aid hospital is destroyed in Syria.

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