新闻纵贯线 The Beijing Hour updated 08:00 2016/02/19（在线收听）

The Beijing Hour

Morning Edition

Bob Jones with you this Friday February 19th 2016.

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

Coming up on the program.

China to be more flexible, pragmatic and market-orientated over Foreign Residency applications.

4000 take part in a massive search for 3 missing children in eastern China's Zhejiang province.

Officials bag a record amount of narcotics, as they reveal the extent of drug abuse in China.

In Business - Chinese car maker Chery strikes a major deal in Austria to make aircraft engines.

In Sport - The Chicago Blackhawks take a trip to the Whitehouse.

And in Entertainment - Long awaited - Crouching Tiger, Hidden Dragon 2 hits Chinese theaters later today.

All that coming up in the next hour.

Top News

China to Ease Permanent Residence Application Process for Foreigners

Chinese immigration officials have released details of the relaxed permanent residency application process for foreigners.

Officials say the qualifications for permanent residence are going to be more flexible, pragmatic and market-orientated.

They say the application procedures are also going to be simplified.

Foreigners working in fields with strong government support will be given priority.

There will also be fewer limits for overseas student applicants.

Under the permanent residency program, foreigners with permanent residence status are to enjoy equal treatment with Chinese citizens.

However, gaining permanent residency in China as a foreigner is extremely difficult, given the almost impossible requirements each applicant has been forced to meet.

As of 2013, just 1.2 percent foreigners living in China held so-called "Chinese Green Cards."

China Asks Spain to Investigate Alleged ICBC Money Laundering Under the Law

The Chinese government is calling on Spanish authorities to conduct a "fair and just" investigation into alleged money laundering by a Chinese bank.

Chinese Foreign Ministry spokesperson Hong Lei.

"Bilateral ties between China and Spain have been sound in recent years, with deepening cooperation in various fields. Spain has become an important investment destination for Chinese entrepreneurs and financial institutions. China has been asking its companies to abide by laws both at home and abroad. At the same time, we also hope that other countries can deal with issues that arise according to law, to ensure that the legitimate rights of these Chinese companies and personnel are protected."

The Chinese government's comments come after Spanish police raided the offices of the Industrial and Commercial Bank of China - ICBC - in Madrid.

Five senior officials from the bank have since been taken into custody.

It's being reported that Spanish authorities raided the ICBC offices on Wednesday as part of a joint operation connected to alleged money laundering and tax fraud.

It's said to be connected with a major investigation known as Operation Snake, which has led to over 30 arrests in Barcelona, Madrid and Valencia since May.

The bank has responded that it is cooperating fully with the Spanish authorities.

ICBC is China's largest bank in terms of assets.

The bank says implementing anti-money laundering regulations and strictly operating within the law remain at the core of ICBC's management principles.

China Urges Other Countries Not To Hype up Its Defense Deployment On Xisha Islands

China has defended its defense deployment in the South China Sea, insisting that the Xisha Islands are China's inherent territory and that there is no legitimate dispute regarding the country's sovereignty over the islands.

Foreign Ministry spokesman Hong Lei made the remarks at a regular news briefing on Thursday.

"China's deployment of homeland defense facilities on Xisha Islands is nothing new and is within Chinese sovereign right. It has nothing to do with the implementation of the Declaration of the Conduct of Parties in the South China Sea (DOC) and with the negotiation of a code of conduct in South China Sea."

Hong Lei urged other countries not to hype up the story of the deployment, but to do more to benefit regional peace and stability.

The comment came in response to media reports that US Secretary of State John Kerry was reportedly seeking dialogue with Beijing over the deployment of an anti-air missile system on Yongxing Island.

China has been insisting that the deployment falls within China's legitimate right to self-protection.

4,000 Searching For 3 Missing Children In E China

A massive search is entering its 3rd day for 3 missing children in the eastern Chinese province of Zhejiang.

More than 4-thousand people, including 10 specialized search teams, are looking for a 7-year-old boy and two girls, aged 8 and 12.

They disappeared from their local village in Pujiang County, on the northern outskirts of the city of Yiwu, around noon on Tuesday.

They were last seen on surveillance video at around 6:00pm that day on a bridge at the entrance to the village where they live.

The search area currently spans around 30-square kilometers.

Authorities have not said what led to the children's disappearance.

However, police helicopters have dropped bags containing food, warm clothes and water in the area, suggesting the children may have run away from home.

Divers have searched a local reservoir but have found no trace of the children.

Messages about the missing children have been spreading on social networks across China, with the hope someone outside the area may have information which leads to the children.

Rocket Maker Responds to Launch Failure Video

China's major rocket developer has confirmed six people were killed and 57 others injured in a rocket launch failure some 20 years ago.

China Aerospace Science & Industry Corporation issued a statement on Friday, responding to a recent video about the crash, doing the rounds on social media, which has triggered public debate over the number of casualties.

This is the company's second response to the video, coming just a day after the first was published via its official Weibo account.

The corporation has admitted that the Long March 3B rocket veered off course just after take-off, crashing seconds later into mountains less than 2 kilometers away from the launch site.

This was the first launch of the Long March 3B model.

The rocket was carrying a telecommunications satellite built by the American company Space Systems Loral, when it crashed at the Xichang Satellite Launch Center in Southwest China's Sichuan.

Images from the failed launch appeared in a documentary broadcast via China Central Television.

The Official Xinhua News Agency has given the same casualty numbers in earlier reports.

China Expropriates Record Amount of Narcotics in 2015

Anchor

China's Narcotics Control Commission has released a report, showing the current state of drug abuse in the nation, and the efforts being made to tackle the problem.

The report points to China's "zero tolerance" policy towards narcotics, and pledges to shoulder greater responsibility in the international fight against drug abuse and smuggling.

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

Reporter:

According to the report, Chinese police confiscated 102.5 tonnes of narcotics in 2015, a record amount which marks an increase of 48.7 percent year on year.

Police are said to have handled 165,000 drug-related criminal cases during the past year, and captured 194,000 suspected criminals in total.

Liu Yuejin, deputy director of the National Narcotics Control Commission, said the prevalence of narcotics in China is generally under control, but several new problems have arisen.

"In terms of narcotic abuse, we found the proportion of people taking opioid drugs such as heroin has seen a decrease. But the popularity of synthetic drugs has been growing. Drug users come from all age groups, different education levels and various occupational groups in society."

The report shows the unemployed make up over 69 percent of the drug abusers, followed by farmers, students and celebrities, which account for some 17 percent, 0.5 percent and 0.4 percent respectively.

The deputy director added that the illegal manufacture and smuggling of new psycho-active substances was spreading from the Yangtze River Delta to other parts of China.

"In the past year, we've listed and legislated against over one hundreds new psychoactive substances, although most of them have not yet been found in cases of drug-addiction in China. We aim to strengthen regulations and penalties as a priority, to prevent the development and extension of the third generation of narcotics across the world."

Liu Yuejin also pointed out that China faces pressure on two fronts - in dealing with the source of narcotics, with a greater inflow of drugs from overseas, and also a threat from domestic drug production.

"In recent years, we have been leading joint narcotic raids involving countries in the Lancang or Greater Mekong Area, especially targeting the "Golden Triangle", Myanmar, Laos, Vietnam and Cambodia. Now those operations are beginning to delivering results. Such cooperation has played a pivotal role in carrying out drug control efforts in the most severe narcotic sourcing countries."

In the first three quarters of 2015, 93.8 percent of confiscated heroin and 87.9 percent of crystal meth tablets came from the "Golden Triangle" in Southeast Asia.

For CRI, this is Huang Shan.

China Unveils New Measures Targeting Winter Air Pollution

Anchor

A suite of targeted and stricter measures have been announced to address severe air pollution in the area around China's capital city during the winter heating season.

CRI's Luo Bin has been taking a look.

Reporter

Recent data from China's Environmental Protection ministry has shown that although air quality improved continuously nationwide last year, the Beijing-Tianjin-Hebei region still suffered heavy pollution, largely caused by PM2.5 particles.

The same data showed the average density of the particles in Beijing in the first ten months last year was cut by over 21 percent compared with the same period in 2014.

However, during the heating season, which began in mid-November, the PM2.5 density in the city surged over 75 percent year on year.

Speaking at a news conference on Thursday, Environmental Protection Minister Chen Jining said the latest step in the regional air pollution fight is to unify standards for issuing air pollution alerts and those alerts would be issued according to the forecast maximum level of PM2.5.

"Unified standards for issuing air pollution alerts in Beijing and five neighboring cities, including Tianjin Municipality as well as Baoding, Langfang, Tangshan and Cangzhou in north China's Hebei Province, will be rolled out before March 15."

Beijing and its surrounding area is one of the worst PM2.5-polluted regions in China.

Coal-fired electricity generation, as well as vehicle exhaust, are said to be the main factors driving up pollution levels across the region in the annual heating season.

According to Chen Jining, a strong El Nino effect, which brought static weather patterns making it difficult for airborne pollutants to disperse, made the situation even worse this winter.

He said apart from a revised air quality warning system, a slew of follow-up measures will also be put in place to prevent air pollution from getting worse again.

"Continued efforts including information sharing, tougher supervision over polluting firms, crackdowns on polluting vehicles and replacing coal with electricity or gas in heating will be carried out to cope with winter smog."

China enacted its Environmental Protection Law a year ago, and the Air Pollution Prevention and Control Law this January.

Chen Jinning noted it is also be a priority to implement these new laws effectively.

"Despite the deterrence of penalties and the growing public awareness of environment protection, many enterprises still risk being punished for discharging pollutants. During the 13th Five-year plan period, a major crackdown will be launched against polluters. But it requires the efforts of both the environmental protection authorities and groups from all walks of society."

Chen also added that the ministry is considering pollutant emission fees based on different seasons to encourage polluting enterprises to increase production in summer while decreasing during the winter.

For CRI, this is Luo Bin.

China Producer Prices Improve In January, Signaling Less Deflationary Pressure

Anchor

Analysts are making sense of the latest economic data to be released, looking for possible trends for the year ahead.

China's consumer inflation picked up pace in January, while producer prices narrowed.

The producer price index - or PPI - fell 5.3 percent in January from a year earlier. The market had expected producer prices to fall 5.4 percent, after a dip of 5.9 percent in December.

CRI's Li Jianhua has been looking more closely into the figures.

Reporter

According to the latest data from the National Bureau of Statistics, the producer price index or PPI, which measures wholesale inflation, dropped 5.3 percent year on year in January.

That represents a decline for the 47th month in a row.

But the PPI reading eased in comparison with the 5.9-percent contraction from August to December.

Liu Baocheng, dean of Center for International Business Ethics at the University of International Business and Economics, says resilient manufacturing prices are a positive sign.

"The economy is rather sluggish so far for the overall picture. However, we see that the PMI has slightly edged up, which shows that the purchase managers are ready to work for the new year. And also due to the interruption of the Spring Festival, the conception has risen, while the manufacturing activity is not very active so far, particularly for the export activities due to the sluggish demand overseas and also the early departure of the migrant workers at many of those manufacturing plants. So, that really adds up to a more quiet picture, but still tolerable so far for the Chinese economy."

In January, price drops in ferrous metal smelting, oil refining and processing, chemical raw materials and chemical products contributed to more than half of the general producer price decline.

In terms of the prospects for the Chinese yuan and capital flow into China, Liu says the Chinese economy is still in a stable condition.

"The foreign direct investment in China is still very strong, even during the quiet months. Right now, a lot of expectations over the interest hike in the United States, actually it was really highly inflated. So, I do not think now it's beginning to be shared by more of the people that the interest hike is not possible, given the global financial situation in the United States. So, therefore, those speculators in the financial market get also rather quiet and stay put in China. So, therefore, we do not expect a lot of miracles, but still, it is a manageable situation."

Meanwhile - Entrepreneurs in the United States still appear to be holding out hope for the Chinese economy.

David Goldin, founder and President and CEO of Capify, a small-business lender in the US, says China's economy is still showing growth at a respectable rate.

"I think people maybe overestimating, overreacting, as they're still predicting China to grow at a 6-7 percent rate, which still is very respectable compared to other markets around the world. The challenge is people were accustomed to China growing at double digit rates, and especially the majority of the S&P companies in the U.S."

Goldin also believes that with China re-balancing its economy from being export led, to being consumer-driven, such economic data should surprise no one.

For CRI, this is Li Jianhua.

Chinese Vigorous Dragon J-10 Fighter's Export Model FC-20 Debuts at Singapore Airshow

The FC-20 export version of China's Vigorous Dragon J-10 fighter has been turning heads at the Singapore Airshow.

It's one of several aircraft put on show by the Aviation Industry Corporation of China.

Also on the exhibition stand - JF-17 Thunder combat aircraft, Hongdu L-15 Falcon training aircraft, and the WL-1 unmanned aerial vehicle.

Ma Zhiping, senior consultant with the China National Aero-Technology Import and Export Corporation (CATIC), says delegations from other countries have been very interested in their products.

"On the opening day of the airshow, we received 11 countries' delegations, including many important customers such as defense ministers, air force commanders and chief of staffs, and relevant government delegations. They are very interested in our drones, helicopter gunships and the third generation fighter jets."

The Corporation has been introducing Chinese military and civil aircraft at the biennial Singapore Airshow since it first took part in 1990.

Air forces from Singapore, Australia, Malaysia and other countries have also brought their fighter aircraft to the show, which runs until Monday.

Obama Signs Bill to Slap Tougher Sanctions on DPRK

U.S. President Barack Obama has signed-off on new sanctions on North Korea.

The new law requires the US government to sanction anyone involved with North Korea's nuclear program.

It also targets anyone who sells luxury goods, launders money or supports human rights abuses in North Korea.

The new US law also authorizes 10-million US dollars a year for the next 5-years to fund non-sanctioned broadcasts into North Korea, as well as to assist anyone who leaves North Korea.

The new US sanctions and funding come after North Korea launched an Earth observation satellite into orbit earlier this month and tested what it claimed was a hydrogen bomb last month.

US President Set To Visit Cuba Next Month

The White House has confirmed US President Barack Obama will be making a historic visit to Cuba on March 21st and 22nd.

The two-day stop will be the first time since former US President Calvin Coolidge visited the island in 1928 that a sitting US President has made a stop in Cuba.

Josefina Vidal, Director of the Cuban Foreign Ministry's United States Division, says the visit by Obama is a step in the right direction.

"His visit will represent a step forward in the improvement of relations between Cuba and the United States. Of course, in order to achieve the normalization of relations between the two countries, the blockade (trade embargo) has to be lifted and the territory occupied by the naval base in Guantanamo has to be returned."

Last summer, both countries reopened embassies in one-another's capitals.

Since then, the US side has cleared the way for resumption of commercial flights.

However, a trade embargo imposed in 1960 remains in place.

Turkish President accuses PYD of carrying out Ankara attacks

Turkish President Tayyip Erdogan has accused the Kurdish Democratic Union Party (PYD) of carrying out the bombing in Ankara on Wednesday, despite party's denials of any wrongdoing.

"Even though those who head the PYD and PKK say this has no connection with them, based on the information obtained by our interior minister and our intelligence agencies, it is identified that this is done by them."

Turkish Prime Minister Ahmet Davutoglu said a Syrian national with links to Syrian Kurdish militias carried out the attack in concert with Turkey's own outlawed Kurdish rebel group, the Kurdistan Workers' Party (PKK).

In addition, He also blamed the government of President Bashar Assad for allegedly supporting the Syrian Kurdish militia.

Salih Muslim Muhammad, a PYD co-chairman, denied the accusation and said the Islamic State group was responsible for the Ankara attack.

The blast on Wednesday claimed the lives of 28 people, including several military personnel, and wounded 61. It came a day after another attack which killed 6 Turkish soldiers.

14 people in connection have been detained in connection with the attack.

Countries including China and Russia as well as the United Nations have all strongly condemned the latest terrorist attacks.

10 People Including a French National Arrested In "IS-Linked" Cell

Moroccan authorities say they've dismantled a "terrorist cell" made up of 10 individuals suspected of having links to the Islamic State.

The group has been taken down after the arrested of the alleged "mastermind" inside a home in a town about 200-kilometers south of the Moroccan capital, Rabat.

A large amount of weapons and ammunition has also been seized.

Moroccan authorities say they believe the cell was about to carry out a suicide car bombing.

They say the group also had plans for further recruitment into the cell, which is said to have included at least one French national.

Moroccan officials claim they've broken up over 150 "terrorist cells" in the fall-out from the 9/11 attacks in the United States in 2011.

Over 30 different cells with alleged ties to jihadist groups in Syria and Iraq have reportedly been broke in up in Morocco since 2013.

Morocco, on the northwest coast of Africa, maintained its independence through Africa's colonial years, but still maintained strong ties with France and Spain, making the country a potential jumping-off point for would-be terrorists into Europe.

German State Parliament Starts Investigation into New Year's Eve Sexual Assaults

Lawmakers in the state of North Rhine-Westphalia in Germany have begun an official probe into the alleged sexual assault of hundreds of women during New Year's celebrations in the city of Cologne.

Members of a committee are being tasked with finding out why police were unable to prevent the attacks, which are being blamed mostly on immigrants from North Africa and the Middle East.

Committee chair Peter Biesenbach addressed the media after the formation of the committee.

"New Year's Eve in Cologne - if I may use that catchphrase - has attracted world attention. We have had press reports in the Washington Post, the New York Times, in Japanese newspapers, BBC was here, even Australian television. And you [media] with your presence show us that we have a task ahead of us and we are aware of our responsibility."

Around 90 women have made formal reports to police, alleging they were either robbed, threatened or groped on New Year's Eve outside the main cathedral in Cologne by young, drunk men.

A the same time, large groups of young men, thought to be recent migrants to Cologne, were also reported roaming around the city, groping and making lewd suggestions to young women.

The reports prompted a firestorm of controversy in Germany, as there are a growing number of people who want the country to close off its border to migrants from the Middle East and North Africa, fearing their influx may create radicalized factions within the existing Muslim society in Germany.

Ukrainian Coalition Government Faced With Pressure after Losing Two Parties

After surviving a confidence vote just earlier in the week, the Ukrainian government of Arseny Yatseniuk once-again finds itself under the spectre of collapse.

Another coalition party in the Ukrainian parliament has decided to pull its support from the government.

Oleh Berezyuk heads the Samopovich Party.

"Taking everything into account, the leadership of the Samopomich party has approved the following: To acknowledge it is impossible for the Samopomich party to remain further in a union of political powers that participated in an oligarch-led coup in parliament and to cease participation in the parliament coalition."

The loss of the 26 lawmakers in the Samopovich Party means the ruling coalition has lost its majority.

Observers suggest this could mean a snap election within a month if Yatseniuk's party and supporters of President Petro Poroshenko can't find enough support in parliament to survive another confidence vote.

The current government has been rattled after the party led by former Prime Minister Yulia Tymoshenko withdrew from the coalition, citing corruption.

Starbucks, Costa Promise Action After British Sugar Report

International coffee chains Starbucks and Costa are promising to serve healthier drinks.

The pledge comes after "dangerously" high sugar levels have been found in some of their hot flavored beverages.

Of the 131 drinks from the two companies analyzed by UK-based advocacy group Action on Sugar, 98-percent have been found containing sugar levels beyond recommended limits.

The drinks with the largest amount of sugar found in the study are the Chai Latte beverages served by both companies, which are said to have the equivalent of over 20-teaspoons of sugar in each serving.

Chai teas are traditionally made with high amounts of sugar in India, where the beverage originates from.

However, both Costa and Starbucks say they both plan to reduce sugar levels in their drinks 'gradually' in the future.

Weather

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

Overnight temperatures should drop down to minus 3.

Shanghai will see slight rain with a high of 12 and a low of 5.

In Chongqing, it will be overcast with a high of 13 and lows of 9.

Elsewhere in the world, staying here in Asia,

Islamabad will have slight rain with a high of 23.

Kabul will be cloudy with a high of 6.

Over to North America,

New York will be overcast with a high of 4 degrees.

Washington, overcast with a high of 5 degrees.

Honolulu, cloudy, 27.

Toronto will see sleet with a high of 5 degrees.

Finally, on to South America,

Buenos Aires will have heavy rain with a high of 32.

And Rio de Janeiro will see slight rain with a high of 32 degrees Celsius.

Headline News

China to Ease Permanent Residence Application Process for Foreigners

Chinese immigration officials have released details of the relaxed permanent residency application process for foreigners.

Officials say the qualifications for permanent residence are going to be more flexible, pragmatic and market-orientated.

They say the application procedures are also going to be simplified.

Foreigners working in fields with strong government support will be given priority.

There will also be fewer limits for overseas student applicants.

Under the permanent residency program, foreigners with permanent residence status are to enjoy equal treatment with Chinese citizens.

Three Chinese Overseas Students Face Years of Imprisonment for Campus Bullying In US

Three Chinese students at a high school in southern California have been sentenced to lengthy jail terms for kidnapping, assault and grievous bodily harm.

The Supreme Court in Los Angeles announced that the students are to be deported after they have finished their sentences.

The three students abducted and tortured their Chinese schoolmate in March 2015.

They were arrested soon after and reached a plea agreement with prosecutors in January to have their sentence commuted.

US President Set To Visit Cuba Next Month

The White House has confirmed US President Barack Obama will be making a historic visit to Cuba on March 21st and 22nd.

The two-day stop will be the first time since former US President Calvin Coolidge visited the island in 1928 that a sitting US President has made a stop in Cuba.

Last summer, both countries reopened embassies in one-another's capitals.

Since then, the US side has cleared the way for resumption of commercial flights.

However, a trade embargo imposed in 1960 remains in place.

Obama Signs Bill to Slap Tougher Sanctions on DPRK

U.S. President Barack Obama has signed-off on new sanctions on North Korea.

The new law requires the US government to sanction anyone involved with North Korea's nuclear program.

It also targets anyone who sells luxury goods, launders money or supports human rights abuses in North Korea.

The new US law also authorizes 10-million US dollars a year for the next 5-years to fund non-sanctioned broadcasts into North Korea, as well as to assist anyone who leaves North Korea.

The new US sanctions and funding come after North Korea launched an Earth observation satellite into orbit earlier this month and tested what it claimed was a hydrogen bomb last month.

IS Executes 3 Female Employees of Iraqi Electoral Commission in Mosul

Islamic State militants have reportedly executed 3 women who previously worked for the Iraqi Independent High Electoral Commission.

A statement from the Commission says the militants snatched the 3 from their homes then publically executed them in the Islamic State-controlled city of Mosul.

In making the statement, the Election Commission is condemning the execution and is demanding authorities do more to get the Islamic State out of Iraqi territory.

The Islamic State frequently executed civilians, government employees and ex-security members in its northern Iraqi stronghold of Mosul.

Biz Reports

Anchor

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

U.S. stocks closed lower today, breaking a three-day winning streak.

This comes as oil prices pared early gains amid worries about a global supply glut.

However, some investors viewed the retreat as normal given the market's recent rally, saying a slight selloff following the big run-up should be seen as positive.

Wal-Mart, a Dow component, became the biggest loser after its fourth-quarter sales missed market expectations.

On the economic front, US Labor Department reported a seven-thousand decrease in the seasonally adjusted jobless claims over the last week.

At the closing bell,

The Dow dropped a quarter of a percent

The S&P 500 lost half of a percent.

And the Nasdaq fell 0.1 percent.

In Europe, stocks closed almost flat after early gains.

The UK's FTSE 100 fell 1 percent, breaking a 4-day winning streak.

Germany's DAX gained 0.9 percent

and France's CAC added 0.2 percent.

Chery Auto to Develop Aircraft Engine for Austrian Firm

Chinese car maker Chery has struck a deal to develop aircraft engines for Austria's Austro Engine.

The engine will then replace Austro Engine's current model on light aircraft DA40 and Da42.

It will be produced and assembled at Chery's headquarter in Wuhu, in Anhui province.

So far, the Chinese auto maker has exported over 300 thousand engines to countries including the United States, Italy and Japan.

It remained the country's largest auto exporter for the 13th consecutive year.

Chery sold over 550 thousand vehicles last year, up more than 8 percent year on year.

Chinese Shipping Giant Officially Established After Restructuring

A new shipping firm China COSCO Shipping Corporation has been officially formed by two Chinese shipping giants.

By restructuring COSCO and China Shipping, the new conglomerate will have the world's largest shipping capacity and the fourth biggest container fleet.

Its assets are said to be worth 610 billion yuan or over 90 billion US dollars.

The restructuring plan was approved by the Chinese government in December.

Five COSCO-controlled listed companies and four China Shipping-controlled listed companies were involved in the process.

Some 60 billion yuan have also been spent during the re-organization.

Marriott Targets China's Mid-Scale Hotels & WeChat's Fees for Cash Transfering Spark criticism

Let's check out some of the main events that have been taking place on the corporate front in China this week. And we're joined on the line live by Doug Young, associate professor at Fudan University and former China company news chief at Reuters.

Firstly - Marriott has struck a deal with a Chinese hotel group "Eastern Crown" to target China's growing middle class. They are planning to set up some 100 mid-range hotels in China by 2021 under Marriott's mid-tier Fairfield brand. Marriott also wants to expand across a broad range of price tiers and locations across the country.

Questions:

1) Good Move? In recent years, we have seen a big, and rapid, expansion of mid-scale hotels in China, and more and more hotels are becoming affordable for Chinese people. Are we seeing a restructuring in China's hotel market?

2) Back in 2014, Hilton already teamed up with China's Plateno Hotels Group to bring Hampton-branded mid-scale hotels. How successful has that been? As a business model - a renowned international hotel group and a local heavyweight - likely to see more of this - an indeed in other sectors.

Also

Rather heated discussion online over Wechat's decision to charge fees for withdrawing money from its "Wallet" system. Users of the messaging app to be charged 0.1 percent for cash withdrawal transactions starting from next month. China's state news agency Xinhua expressing caution. Tencent, the owner of wechat, arguing that the decision is to cushion high transaction fees it paid to banks.

Questions:

1) Does Wechat have a strong argument? Is it related maybe more to the booming "red envelope" service that we saw during spring festival?

2) Apple pay entered the Chinese market just yesterday, and Alipay says it has no plans to charge similar fees for withdrawing money - will we see a drift away from WeChat wallet?

Back Anchor:

Doug Young, associate professor at Fudan University and former China company news chief at Reuters.

China Central Bank Continues Forex Sales In Jan.

New data suggests that China's central bank saw its yuan funds outstanding for foreign exchange, drop some 644 billion yuan or 99 billion US dollars in January, signaling capital outflow pressures.

The fall followed a record plunge of 708 billion yuan in December.

The funds for foreign exchange only rose in January and October during last year.

The Chinese central bank has to buy foreign currency as the Chinese currency is not freely convertible under the capital account.

As such, the data usually acts as a key indicator for foreign capital flow and yuan's liquidity.

Chinese authorities have repeatedly shrugged off concerns, saying there is no basis for yuan's continued weakness.

Uber Losing $1 Billion a Year in China: CEO

Uber has reportedly managed to get through more than a billion dollars in China to compete with its local rival Didi Kuaidi in the Chinese market.

Uber CEO Travis Kalanick has gone on-record as saying the firm has lost over 1 billion US dollars a year in China, while gaining profits in the United States.

The CEO of the car-hailing firm said Uber faces fierce competition in China.

Last month, Uber's Chinese business boosted its valuation to more than 8 billion US dollars following a latest round of fund raising.

Right now, Uber operates in more than 40 cities in China and plans to expand its service to 100 cities by the end of this year.

Apple Pay Being Widely Accepted In China

The Apple Pay mobile payment system is now available to Chinese customers through its partnership with China Union Pay.

UnionPay has provided compatible point-of-sale (POS) terminals for users to complete the transactions.

Customers of 19 Chinese banks are now able to link their bank accounts to Apple Pay by using their fingerprint.

Wang Dachuan, Apple Pay Project Manager at the Industrial and Commercial Bank of China (ICBC) confirmed the hook up.

"[We have launched the service] mainly at some supermarkets and popular restaurants. In general, any POS (point of sale) dispatched by any banks or the UnionPay with the mark of 'QuickPass' can accept the Apple Pay theoretically. So, the range of acceptance [of the Apple Pay] is extensive."

McDonald, Carrefour, 7-Eleven, and KFC are among the merchants who have accepted or will allow in-store Apple Pay in China.

Meanwhile, many Internet retailers including Dangdang and Meituan have made the service available.

Alibaba's main rival JD.com is also planning to accept the payment.

Sports

Beijing evens in WCBA semi-final; No major trades at NBA deadline

In basketball,

Game two of the WCBA playoffs were played out last night.

Xinjiang now holds a 2-0 series lead in the best-of-five following a 90-82 win over Guangdong.

---

On the other side, Beijing has leveled its series with Shanghai following a 77-68 victory last night.

---

In CBA,

The 3rd games in the best-of-5 first round CBA playoffs are set for tonight, and all of them are potential elimination games.

Top-ranked Liaoning will attempt the sweep Chouzhou in Zhejiang.

Yi Jianlian and the Guangdong Southern squad are in Shandong.

Xinjiang can close out its first round series against the Ducks tonight here in Beijing.

And Sichuan will look to close out Guangsha on the road tonight.

--

The NBA trade deadline has come and gone.

There were no blockbuster deals, with trade discussion surrounind Blake Griffin and Pau Gasol amounting to nothing in the end.

However, there were a couple of moves of note.

The Clippers did decide to keep Blake Griffin, but they also picked up a shooting forward in the form of Jeff Green from Memphis.

In return, the Clippers have moved guard Lance Stephenson and a 1st round pick to Memphis in exchange.

And it was the Washington Wizards who eventually decided to bite on Markieff Morris.

Morris, who had been demanding a trade out of the desert, has been moved to the Wizards in exchange for Kim Kardashian's ex-husband Kris Humphries, as well as DeJuan Blair and a first-round draft pick.

Meanwhile, the regular season resumes this morning,

The San Antonio Spurs are on the road in Los Angeles to take on the Clippers, who will not have the services of Jeff Green.

The Chicago Bulls are hoping to snap a 4-game losing skid in Cleveland when they take on the Cavaliers.

And the Washington Wizards will also be in action without Markieff Morris at home to the Utah Jazz.

Europa League Recap

In football,

Manchester United has been handed a major embarrassment in its Europa League first-round playoffs.

Louis Van Gaal's squad went down to Danish side Midtjylland 2-1 in the first leg of their last-32 match last night.

So unless Man-U can rebound with a 2-goal victory in the 2nd leg, it could spell the end for the Premiership club's attempt to back-door itself into the Champions League next season.

In other action from the Europa league last night,

Borussia Dortmund blanked Porto 2-0.

Tottenham Hotspur managed a 1-1 draw with Fiorentina.

Liverpool was held to a scoreless draw against Augsburg.

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Chinese Super League side Guangzhou R&F will be up against Australia's Bonnyrigg White Eagles in the first of their 5 warm-up matches ahead of this year's CSL season.

The match will take place at 4:30 p.m., Beijing time.

Zheng Saisai, Xu Yifan Ousted

In tennis,

The Chinese pair of Zheng Saisai and Xu Yifan have been ousted from the Dubai Duty Free Tennis Championships, going down to Italian Sara Errani and Spain's Carla Suárez Navarro in straight sets 6-4, 6-3.

The Italian veteran Errani is also through to the semi-finals in women's singles after downing Madison Brengle from the United States in a three-set battle.

In other action,

Ukraine's Elina Svitolina took out USA's Coco Vandeweghe for a place in the last four of the tournament.

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Over to the Rio Open,

Third seed Danka Kovinic has made it to the third in Rio after easy win over Spain's Sílvia Soler Espinosa.

Crotia's Petra Martic also progressed following a three-set win over Marina Erakovic from New Zealand.

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On the men's side,

Second seeded David Ferrer has reached the quarter-finals of the tournament, knocking out compatriot Albert Ramos-Vinolas in a three-set affair.

He'll be up against rising Austrian star Dominic Thiem.

Rafael Nadal is also through to the quarters after getting past Nicolas Almagro in straight-sets, 6-3, 7-5.

Holman Takes Lead after 1st Round of the Maybank Championship Malaysia

In golf,

Round-2 of the LPGA's Australian Open is underway.

British amature Holly Clyburn is making the early charge in round-2, currently shooting 5-under after her first 7-holes, sitting 2-back of first round leader Kim Soo-Bin.

Kim will hit the course later this morning after firing a course-record 9-under-63 to start out the tournament.

Chinese golfer Lin Xiyu will also tee-off later on this morning just ahead of defending champion Lydia Ko.

Both finished yesterday at minus-2.

The only other mainland competitor in the event, Yan Jing, has been struggling today.

She's shooting 2-over right now after opening her tournament at plus-2, meaning she's likely to make it into the weekend unless she has a strong finish this Friday.

On the men's side,

The 24-year-old Australian Nathan Holman holds a one-stroke lead after a 7-under-64 at the European and Asian Tour's Maybank Championship in Kuala Lumpur.

"Oh, I think it's pretty good. There's a lot of chances still, you get in the rough and it can really grab you, so seven under, yeah. I'm really happy with that."

A group of 6 golfers sit one stroke back in 2nd, including Dubai Desert Classic winner Danny Willett.

And at the PGA stop at the Northern Trust Open.

A group of American golfers, including veteran Bubba Watson, hold the lead in the midst of the first round of the tournament after a first-round minus-5.

2015 Stanley Cup Champion Blackhawks Honored by Obama at White House

In hockey,

A busy schedule this morning in the National Hockey League, with 11 games on the schedule.

One team that isn't in action today is the Chicago Blackhawks.

The 'Hawks are in Washington right now, after making a stop at the White House to meet US President Barack Obama.

Obama, from Chicago, took time to praise the 'Hawks on their 3rd Stanley Cup victory last season in 6-years.

"Congratulations on your third title. It'd be nice to have, just squeeze one more in there before I leave. Because then I definitely will credit for this amazing championship run. I haven't given up hope on the Bulls or the White Sox or the Bears or, heck, I'd even take the Cubs but in the meantime let's give it up for the Chicago Blackhawks!"

The Blackhawks, who dumped Tampa in last year's final, are positioning themselves for another run at hockey's top prize, as they're currently 2nd in the league in points behind the Washington Capitals.

The Caps are one of 11 teams in-action this morning, on the road in New York to take on the Islanders.

In other action,

Pittsburgh is at home to Detroit.

Carolina is in Ottawa.

The New York Rangers are in Toronto.

San Jose is in Florida to take on the Panthers.

Up the road, its Tampa Bay entertaining Winnipeg.

Boston is in Nashville.

St. Louis is at home to LA.

Dallas is in Arizona.

Minnesota is in Edmonton.

And its Vancouver at home to Anaheim.

Winter Youth Olympics: Aline Danioth Makes Winter Youth Olympics History with Slalom Gold

At the Winter Youth Olympics in Norway,

Switzerland's Aline Danioth has become the first athlete to win four alpine skiing medals at a Winter Youth Olympics with a victory in the women's slalom event.

The Swiss skier has also taken gold in the combined, as well as bronze in the giant slalom and Super-G.

"No, I never thought that I could win four medals, you always have to get everything right for one medal so now four medals is so cool."

In other skiing action, it was Maya Yakunina taking gold in the women's 5-kilometer free cross-country skiing event.

It represents Russia's fourth gold at the Games, with the previous three all coming in figure skating.

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On the men's side,

After a gold and a silver earlier in the week, Magnus Kim has struck gold again in the men's 10-kilometer free event.

His victory puts South Korea at the top of the medal table with 8 golds.

Entertainment

Sequel to "Crouching Tiger Hidden Dragon" Hits Chinese Theaters

"Crouching Tiger Hidden Dragon II: Sword of Destiny" is set to hit Chinese theaters later today and its latest trailer has been released.

(tiger dragon trailer)

Directed by martial arts choreographer Yuen Woo-Ping, the sequel to Ang Lee's 2000 martial arts classic is set 20 years after the events of the first movie, and follows four martial arts heroes trying to protect the Green Destiny sword.

It features Michelle Yeoh back as Shu Lien.

Other cast members includes Donnie Yen, Harry Shum Jr., Jason Scott Lee and Eugenia Yuan.

The film was well-received when it had its world premiere in Beijing on Tuesday.

Meryl Streep Plays the World's Worst Singer in First Florence Foster Jenkins Trailer

Meryl Streep has once again shown her singing prowess - or maybe lack of it - in her latest film - the "Florence Foster Jenkins".

In the comedy the character she plays gained the reputation as the world's worst vocalist.

(Florence Foster Jenkins trailer)

"Florence Foster Jenkins" is the true story of the legendary American heiress and socialite who obsessively pursued her dream of becoming a great opera singer.

It celebrates the human spirit, the power of music and the passion of amateurs everywhere.

Hugh Grant stars as her partner St Clair Bayfield.

The movie is directed by Stephen Frears, who also created 'Philomena' and 'The Queen'.

It is slated for release on May 6th.

Director Lav Diaz premieres his latest 8-hour ling in Berlin

Filipino director Lav Diaz's latest movie "A Lullaby to the Sorrowful Mystery" has had one of the earliest premieres in the history of the Berlinale - with the red carpet kicking off at 9 a.m local time on Thursday.

This was because the movie is a staggering eight hours long.

Lav Diaz has slammed his critics over the length of his movie.

"It's not long, it is short. Once you are immersed in the film, it's short. It is free cinema, I have emancipated it from the conventions. Cinema must be free, it is a great art medium. We should emancipate it from the so called market as opposed to our things."

The movie focuses on the revolution in the Philippines in 1896.

Live-Action 'Astro Boy' Gains Writers and New Line

Preparations for the "Astro Boy" film, which was announced earlier this month, are coming on apace.

Warner Brothers New Line division is reportedly close to acquiring the live-action movie's rights.

And the studio has revealed it's hired the writing duo behind 'San Andreas' - Andre Fabrizio and Jeremy Passmore - to write the script.

Created by Osamu Tezuka in 1952, Astro Boy tells the story of a young robot built by a scientist to replace his recently deceased son.

After being abandoned, Astro is raised by another scientist where he's given upgrades that allow him to fight evil.

Several TV shows based on the character have been made and an animated feature was released in 2009.

This time, the plan is to make the project "a live-action, four-quadrant adventure movie."

Adele Cried 'All Day' After Technical Glitches During Grammy Performance

Adele has been speaking about the much talked-about technical difficulties during her Grammys performance earlier this week.

Speaking on The Ellen DeGeneres Show, the singer revealed that she was left "embarrassed" and crying "pretty much all day" after the incident.

Microphones fell onto the piano strings, causing a guitar like noise to come through the speakers while she was on stage.

Her rendition of 'All I Ask' was off-tune as a result of the glitch.

Adele joked that the guitar sound heard led some people to believe it was Justin Bieber rehearsing.

The singer also revealed that "the more successful she gets, the more pressure there is.

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

Recapping our top stories ...

China to be more flexible, pragmatic and market-orientated over Foreign Residency applications.

Stricter measures unveiled to tackle severe air pollution in and around Beijing during the winter heating season.

Officials bag a record amount of narcotics, as they reveal the extent of drug abuse in China.

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.