新闻纵贯线 The Beijing Hour updated 08:00 2016/02/23（在线收听）

The Beijing Hour updated 08:00 2016/02/23 

   2016-02-23 08:41:30   CRIENGLISH.com      Web Editor: Zhang Yan

The Beijing Hour

Morning Edition

Bob Jones with you this Tuesday February 23rd, 2016.

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

Coming up on the program.

The United States and Russia announce a plan to bring an end hostilities in Syria.

Chinese Foreign Minister, Wang Yi, heading to the United States for a round of top level talks.

International calls for China to do more to curb industrial overcapacity.

In Business - Figures suggesting a surge in Chinese foreign investment in 2015 .

In Sport - Chinese teams on the road for upcoming AFC Champions League action

And in Entertainment - This year's Beijing International Film Festival taking shape.

All that coming up in the next hour.

Top News

U.S., Russia Agree To Syrian Ceasefire to Begin, Syria Announces Election Date

The United States and Russia have announced a plan for the ending of hostilities in Syria.

The agreement says the warring parties must indicate to Russia or the United States their commitment to, and acceptance of, the terms of the ceasefire by no later than 12 noon on Saturday.

Russia and the U.S. say they intend to work together to prevent parties participating in the ceasefire from being attacked by either Russia, the U.S.-led anti-IS coalition, or the Syrian government.

The ceasefire agreement does not apply to IS, or other terrorist organizations in Syria, and so Russian and U.S. military actions will continue against them.

Moscow and Washington have pledged to continue dialogue after the cessation of hostilities has gone into effect.

Hours after the agreement, the Syrian state news agency SANA reported President Bashar al-Assad had set April 13 as the date for the parliamentary elections in Syria. Syria has fixed term four year parliaments and this date had been anticipated.

The media has interpreted the decision on elections as evidence that Damascus is still acting independently, and that the Syrian government isn't counting on international negotiations.

UNSC Syria Meeting

Anchor

The United Nations has confirmed it will investigate the use of chemical weapons at seven locations in Syria.

The announcement comes on the heels of a UN report which is suggesting all groups involved in the fighting in Syria have been engaged in activity among civilian populations that could amount to war crimes.

Our Nick Harper has more from UN headquarters in New York.

TAKE VO

The sensitive nature of this topic was clear at the United Nations, the first briefing from the new Chemical Weapons team taking place behind closed doors.

For the first time this team is mandated to apportion blame, to hold perpetrators accountable.

That's after the former mission established chemical weapons had been used inside Syria on several occasions, mainly against civilians.

Something the head of the mission, Virginia Gamba, said would simply not be tolerated.

"Any use of toxic substances weapons by anybody anywhere under any circumstances is totally abhorrent, and these acts will be identified and that they will be held accountable for their actions."

Gamba explained the mission has identified seven locations. Inspectors hope to begin work at those sites at the start of next month.

Also on Monday, came the release of the latest report from the independent investigation group that's tasked with looking at alleged violations of international human rights law in Syria.

Here's the chair of that commission, Paulo Sérgio Pinheiro.

"Not a single warring party respects international humanitarian law, the Geneva conventions, or the conventions on human rights. There is an encompassing disrespect for the rules of engagement in this war."

The latest report details how the widespread killing of civilians continues, with all sides carrying out "indiscriminate" attacks.

"The ongoing destruction of homes, hospitals, schools markets and bakeries makes it nearly impossible for people to meet most basic needs and forces them to live in constant fear for their lives. The Commission thinks that suffering of Syrian people must stop now. This carnage has to end."

The meetings at the United Nations came amid the news US Secretary of State John Kerry and his Russian counterpart Sergei Lavrov had set a new date for a "cessation of hostilities" - a temporary halt in the fighting - which is scheduled to start on Saturday.

However, last week a similar deadline came and went, and Syria was rocked by a weekend of violence with suicide blasts in the cities of Damascus and Homs.

The UN Secretary General Ban Ki-moon may have welcomed the new date, but internationally there's already skepticism whether the fighting will cease in any form on Saturday.

For CRI, I'm Nick Harper in New York

Chinese FM to Visit U.S.

Anchor

Chinese Foreign Minister, Wang Yi, is due to pay an official visit to the United States from Tuesday to Thursday.

Ahead of the trip, the Foreign Ministry briefed the media on some of the key issues to be discussed during Wang Yi's U.S. visit.

CRI's Luo Wen reports.

Reporter

This is Foreign Minister Wang Yi's first U.S. visit this year.

It comes at a time when tensions are rising both in the South China Sea and on the Korean Peninsula.

During his trip, Wang Yi is due to meet with senior U.S. officials including Secretary of State John Kerry.

When asked about what message China would be sending to the U.S. on the South China Sea issue, Foreign Ministry Spokesperson, Hua Chunying, urged the U.S. to honor its commitment of taking no position on competing territorial claims, and stop playing-up the issue or creating tension.

She criticized the U.S. for stirring up hype over the so-called "militarization" of the South China Sea.

"The deployment of defense facilities on China's own territory is no different from what U.S. does in Hawaii. The U.S., which has sent military vessels and planes to areas in the South China Sea to conduct close-in reconnaissance, is the source of tension and militarization of the South China Sea. We hope the United States will stop stirring up the South China Sea issue and provoking a tense atmosphere."

On the Taiwan issue, Hua Chunying said the U.S. shouldn't send the wrong message to "Taiwan independence" forces and should support the peaceful development of cross-Straits relations through concrete actions.

Meanwhile, Hua Chunying reiterated China's support for new UN resolutions on North Korea while urging joint efforts to maintain peace on the Korean Peninsula.

"We support the UN Security Council in passing new and effective resolutions on North Korea and call on all parties to refrain from actions that may heighten tensions on the Korean Peninsula. Going forward, all parties should work as one to bring the Korean Peninsula nuclear issue back to the track of dialogue and negotiations, promote denuclearization in tandem with transition from armistice to peace on the Korean Peninsula and realize enduring peace and security on the Peninsula."

Professor Zhu Feng from Nanjing University says Foreign Minister Wang Yi's U.S. visit is a great opportunity for the two sides to promote dialogue.

"The United States and China are the world's two leading economies. They play very special roles in the world economy as well as peace and security. This also means that we can't agree on every issue and there will be conflicts. Neither China nor the U.S. wants to turn geopolitical competition into sources of tension. With that in mind, it's fair to say that the two sides can still manage their differences."

It's also expected that the two sides will use the trip to plan and arrange a timetable of talks between high-level officials for the year ahead.

For CRI, this is Luo Wen.

China's top legislature, Japan's House of Councillors restart regular dialog

China's top legislature, the National People's Congress and Japan's House of Councilors have restarted a bilateral mechanism for regular exchanges in Beijing.

The two sides discussed a series of common concerns, including China-Japan relations, economic ties, environmental protection collaboration, people-to-people exchanges as well as some global and regional issues.

Both sides expressed willingness to enhance exchanges and contribute to the improvement of China-Japan relations.

The meeting was previously slated for 2013 in Beijing, but was suspended due to deterioration of China-Japan ties.

European Chamber: China Needs to Do More to Cut Overcapacity

Anchor

The latest report from the European Union Chamber of Commerce in China has suggested that the Chinese government should do more when it comes to cutting industrial overcapacity.

The report released on Monday also said that China's crude steel sector is facing a tougher situation than other overcapacity-ridden industries in the country.

CRI's Li Jianhua takes a look at the subject in more detail.

Reporter

As the world's biggest steel producer, China generates over half of global output every year, or more than twice the combined output of the next four leading steel makers: Japan, India, the United States and Russia put together.

It's estimated the country's steel output for this year will reach 1.2 billion tonnes, but only half of this can be used.

One of the priorities of the Chinese government is to eliminate outdated capacity in the industry, but so far efforts to achieve this don't seem to be paying off, largely due to regional protectionism.

In many cases, local steel makers have even expanded their production levels to avoid being shut down.

Joerg Wuttke, President of the European Chamber of Commerce, has suggested more financial support on the ground locally might be a better choice when it comes to solving such regional concerns.

"Why do local governments support companies beyond their shelf life? Because they don't have enough money. They are worried about loss of business. They are worried about unemployment. So they keep going. So Beijing has to fiscally put the local government in a position that they have the money to serve the social obligations they have."

The new report comes around seven years after the chamber published its original report on this topic.

It provides a detailed examination of the causes and consequences of overcapacity in eight key industries and analyzes the developments that have taken place over the past years.

Wuttke also says apart from regional protectionism, weak regulatory enforcement has also played a role in hindering policy implementation.

"Very good laws coming from central government, the laws in most cases are tougher than Europe. Than you look around locally. Local governments see things in another way. And companies keep polluting. It's getting covered up in many ways."

The report provides 30 recommendations that should be taken to address the deep-rooted problem, including cutting expenditure in industries with excess capacity; expanding dividend payments by state-owned enterprises to reduce unneeded expansion; and the further opening up of the service industry to reduce the reliance on industries with overcapacity.

In the latest step to address steel overcapacity, China's State Council has released a policy outline aimed at cutting steel production by up to 150 million tonnes over the coming five years.

At the same time, the Ministry of Land and Resources has said it will control land used for new coal and iron and steel projects in 2016.

European Chamber of Commerce president Joerg Wuttke said tackling overcapacity is now more urgent than ever, and the worst thing that can happen, is that nothing is done at all.

But he also said European Union companies would be more willing to invest in China if the country's overcapacity problems are reduced.

For CRI, this is Li Jianhua.

China to Open up Gated Residential Communities to Public

Anchor

A newly released guideline on urban planning has triggered heated public discussion in China.

The government wants to see roads within gated residential communities opened up and added to the public road system. But some residents have expressed concern for their safety, their health and their property rights.

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

Reporter

The government guidelines released on Monday are aimed at tackling problems associated with urbanization and the growing city sprawl in rural areas.

A key aspect of the guideline calls for roads in newly built communities to be opened up to the wider public, and be added to the urban road system, with older communities also gradually being connected to the public road network.

Niu Fengrui, an expert from the Chinese Academy of Social Sciences, supports the policy. He believes its a better way to utilize urban land, and improve the road network in built-up areas.

"The central government wants to gradually open up all the communities in cities, and refine the traffic layout of blocks. This decision complies with the demand for urban development in China. People want the traffic to become more convenient, but gated residential communities have been cut off from the traffic network, which can impede overall urban efficiency."

However, according to an online poll on Sina.com, over 75 percent of the 20,000 participants, opposed the idea of opening up gated communities.

One citizen, surnamed Zhang, expressed his concern over the potential risks arising from such a decision.

"The government wants to expropriate the land in gated communities to widen the roads, but we home owners have to pay for that. Moreover, people and cars from outside will be able to freely enter the communities, which may cause some security problems. As things stand, owner committees can turn to the property management company if any problems occur. After the gates are removed, then who would be in responsible?"

The poll also showed that 65 percent of those asked, cited concerns for their health and assets as the top issue in opposing the new guideline.

And 85 percent of participants said home owners in older communities opened up to public access should get compensation.

Gu Yunchang, vice-president of China Real Estate Association, believes in promoting this opening-up policy, but says newly-established communities may face different issues than more established ones.

"For new communities, home owners don't know how much they paid for the public space. Before settling the land transfer issues, it's essential to clarify which roads or spaces are to be opened to the public. And for older, more mature communities, the associated problems would seem tougher. The policy should be rolled out step by step, and the priority should be given to ownership distribution."

Some experts have suggested, in the future, the government should clearly tell developers which roads are to be in the public system, and which are to be private.

For CRI, this is Huang Shan.

Differential Housing Policies for Different Cities

Anchor

As China reduces taxes for home buyers in its latest move to stimulate the real eatate market, some experts are suggesting the tight grip on the housing markets in the first-tier cities should remain in place.

China has listed destocking the property inventory as one of this year's major economic tasks, amid fears that an ailing housing market could derail the economy.

CRI's Luo Bin reports.

Reporter

The latest easing policy, which came into effect on Monday, states that first time buyers will pay a deed tax of 1.5 per cent on housing units above 90 square meters, which is down from 2 per cent.

For second home buyers, the tax rate will be 1 percent for units under 90 square meters, and 2 percent for larger units in all Chinese cities excluding the big conurbations of Beijing, Shanghai, Guangzhou and Shenzhen. Previously the tax rate was 3 percent, regardless of floor space.

In addition, sales of houses which have been held by owners for more than two years will be exempted from taxes in all Chinese cities except the above-mentioned metropolitan areas.

Jia Kang, from the China Academy of New Supply-side Economics, says differential policies for different cities is necessary.

"The tier one cities should be treated differently, since the housing markets in those cities rebounded quite fast. It's necessary for the government to adopt a differential policy for those cities for fear that the market might get overheated."

Mao Zhenhua, head of Institute of Economic Research of Renmin University, agrees with that view.

"In general, the imbalance between the supply and demand in the housing market has been eased greatly. We should still de-stock the high inventory in some areas while stabilizing the market where there is ample demand."

It's expected that the large metropolitan areas would be excluded in any stimulus packages for some time to come due to strong demand.

But equally, it's widely believed that more support is needed to stimulate property markets elsewhere in the country.

Hu Zuliu is president of Primavera Capital Group, a leading China-based investment firm.

"I used to oppose regulating the housing market with administrative measures or purchase restrictions. I think they have overdone it. However, I think it's the right time to take action now to loosen rather to spur the property market."

Earlier this month, China's central bank relaxed rules on down payments for home purchases in cities which had no purchase restrictions, and to allow lenders and local authorities to decide on their own levels for down payments required from prospective buyers.

For CRI, this is Luo Bin.

New Stock Regulator Faces Old Problems, New Challenges: Analyst

It's being suggested the new head of China's securities watchdog is facing a number of challenges in taking up his new position.

Liu Shiyu has taken over as the new Chair of the China Securities Regulatory Commission this week after former chief Xiao Gang was pulled from the post.

Wang Jianhui, deputy general manager of Research and Development at Capital Securities, says the markets will be looking toward Liu Shiyu to restore a balance between risk control and free-market development.

"Because his predecessor kind of had some problems with that. He [the predecessor] wanted to control the risk when market reached the level of 5,000 (points), but it didn't work out when he wanted to keep down the risks. The market was going down and the risks were still there. "

Wang Jianhui says one area where Liu Shiyu might want to focus on is giving Chinese start-ups more access to the markets through Over-The-Counter, or OTC, listings.

"I think the first thing to do is to continue the reforms from the prior regulators, especially the IPO reforms. I think if you don't have a good market oriented IPO system, you won't have a very healthy and solid share market system. The second is (that) he has to make the third board market, or the OTC market, more attractive and efficient, because that one is a good place for the small enterprises. So the enterprises will have the chance to emerge and grow up."

Liu Shiyu's appointment as the new Chair of the China Securities Regulatory Commission has been met with some market enthusiasm, with the Shanghai Composite Index rallying over 2-percent on Monday to climb back above 29-hundred points.

China's Business System Reform Boosts Entrepreneurship, Employment

Administrative streamlining is being pointed to as one of the main factors behind a new set of business-growth figures.

Zhang Mao, head of the State Administration for Industry and Commerce, says analysis is suggesting the business reform strategy currently being implemented helped increase GDP growth by 0.4 percent this past year.

"According to the World Bank report on business environment, China ranks 84th among 189 economies in terms of business environment. During the two years of the business system reform, China's ranking has advanced by six positions each year."

Figures compiled by the SAIC suggest three-in-four new businesses in China were created in the service sector last year.

Since launching its administrative reform strategy in 2013, Chinese authorities say the number of new businesses launched on a daily basis have risen from 69-hundred to 12-thousand over the past 2-years.

Chinese Scientists Decode Gene Sequence of Imported Zika Virus

Chinese scientists have sequenced the genome of the country's first imported Zika virus, helping with prevention and diagnosis.

This will lay the foundation for understanding the variations of the virus as well as developing bacteria and re-agents to diagnose the disease.

China has had confirmed two Zika cases, both were imported.

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.

Soul, Central Idea, Core Value Are Key to Revive KMT: Hung Hisu-Chu

One of the candidates standing to be chairperson for Taiwan's Kuomintang (KMT) party, Hung Hisu-chu, has said that the key to the KMT's revival lies in finding its soul, central idea and core values.

She was speaking as the KMT started the process of finding a new chairperson.

Hung was responding to a questions from the public, one of which compared the party's revival to baking a cake, or using the children's plastic playbricks "Lego".

"It doesn't matter whether the KMT is cake or Lego today, or what kind of method we use; let's pick up the bricks and build it (KMT) up, just like playing with Lego, will you?"

Hung says the party needed to revive itself step-by-step, steadily, and with a plan.

By Monday, four candidates had so far registered for the candidacy, with Hung Hisu-chu and Acting chairperson Huang Ming-hui leading the field.

Eric Chu resigned as the party leader last month after he lost in the island's leadership election to Tsai Ing-wen of the Democratic Progressive Party.

Top Go player prepares to face AlphaGO machine

A decade after Gary Kasparov put his Chess acumen up against a computer, a similar competition - with a Chinese twist - is set to take place.

AlphaGo, a computer program created by Google, is set to take on one of the world's top 'Go' Chess players.

South Korea's Lee Sedol and AlphaGo will battle it out over a 6-day period next month to see whether computer science can outwit human instinct when it comes to the mastery of the ancient Chinese strategy game.

"There might have been a lot of updates (to AlphaGo) over the last four to five months (since match in October), but I still think it is a limited amount of time (for AlphaGo to develop capabilities enough) to compete with me."

AlphaGo has already won a match against reigning European 'Go' champion Fan Hui, blanking him 5-games-nil.

Despite this, Lee Sedol says he believes he can easily top Google's program, suggesting he might even be able to hold AlphaGo without a victory.

"In its match (with a professional Go player Fan Hui) in October, AlphaGo didn't have the capability to compete (with me). However, as you said, (the programme) is being continuously updated, so I think it has been improved a lot in terms of capability. I will not feel too comfortable (about the upcoming match), but until now I still think I have the upper hand, because there is a time limit."

The match between AlphaGo and Lee will be held at a hotel in Seoul from March 9th to the 15th.

It comes just 10-years after Russian Chess master Gary Kasparov faced off against IBM's "Deep Blue" in a highly-publicized match.

Kasparov won that event 4-games-2.

The computer ended up winning the rematch a year later.

Weather

Beijing will be sunny with a high of 4 degrees Celsius.

Overnight temperatures should drop down to minus 6.

Shanghai will be overcast with a high of 10 and a low of 3.

In Chongqing, it will see slight rain with a high of 11 and lows of 8.

Elsewhere in the world, staying here in Asia,

Islamabad will be sunny with a high of 23.

Kabul will be cloudy with a high of 14.

Over to North America,

New York will have slight rain with a high of 8 degrees.

Washington, slight rain with a high of 7 degrees.

Honolulu, overcast, 26.

Toronto will be overcast with a high of 1 degrees.

Finally, on to South America,

Buenos Aires will be overcast with a high of 35.

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

Headline News

Chinese Foreign Minister to Visit U.S.

Chinese Foreign Minister Wang Yi is set to begin a stop in United States starting this Tuesday.

Wang Yi is due to sit down with US Secretary of State John Kerry and other senior officials during his 3-days in Washington, where he's set to discuss bilateral ties, as well as regional and international issues.

It's widely expected North Korea and the South China Sea will top the agenda during Wang Yi's time in Washington.

In a statement ahead of his arrival, the Chinese Foreign Ministry says its the Chinese hope that Wang Yi's time in Washington this week will help set the tone for China-US ties in the coming year.

U.S., Russia Agree To Syrian Ceasefire to Begin, Syria Announces Election Date

The United States and Russia have announced a plan for the ending of hostilities in Syria.

The agreement says the warring parties must indicate to Russia or the United States their commitment to, and acceptance of, the terms of the ceasefire by no later than 12 noon on Saturday.

The ceasefire agreement does not apply to the Islamic State, or other groups deemed by both the US and Russia as terrorist organizations in Syria.

Meanwhile, its being reported Syrian President Bashar al-Assad had set April 13th as the date for parliamentary elections in Syria.

The setting of the date is not unexpected, as Syria has a fixed term four term for its lawmakers.

However, some observers are suggesting the announcement by Bashar al-Assad is meant as a sign to the international community that Damascus is still acting on its own, beyond the pull of the international peace negotiations.

Suicide Bombing Kills 14 In Eastern Afghanistan

At least 14 people are dead and 11 others hurt following a suicide bombing in the eastern Afghan province of Parwan.

Local officials say the bomber targeted a local Police patrol near a district office building.

The Taliban is claiming responsibility.

The attack in Parwan is somewhat unexpected, as the province just north of the capital, Kabul, is considered one of the more peaceful in the country.

Afghanistan remains one of the most dangerous countries in the world.

A UN report says over 35-hundred civilians were killed in various attacks across the country last year.

52 Foreigners Detained In South China Drugs Bust

Police in Shenzhen have broken up a known drug circle.

A total of 93 people, including 50 foreigners, have been put in administrative detention after being rounded up during the bust of a known drug spot in the city's Nanshan District.

Close to 500 people were scooped up at the "IKEA Bridge Culvert" after reports of wide-spread drug were submitted to police.

Of those detained, 118 tested positive for drug use - mostly marijuana.

The "IKEA Bridge Culvert" in Shenzhen is a known gathering spot for parties held by foreigners.

Drug use in China is a criminal offense.

Foreigners caught using drugs face not only time behind bars, but also risk deportation.

Biz Reports

US and European Stocks

Anchor

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

U.S. stocks posted solid gains on Monday due to a strong rebound in oil prices boosting market sentiment.

Oil prices soared 6 percent in the U.S. as the International Energy Agency said U.S. shale oil production was expected to fall by 600 thousand barrels per day this year.

However, the IEA still sees low oil prices globally in short period. We will have more on this in a few moments.

Meanwhile, US stock exchanges also gained support from a broadly-based rally in global markets.

China's stocks soared to a one-month high on Monday, following the appointment of a new regulatory head.

At the closing bell,

The Dow added 1.4 percent

The S&P 500 increased one and half of a percent.

And the Nasdaq also gained one and half a percent.

In Europe, equities also ended sharply higher, led by solid gains in commodity prices.

The UK's FTSE 100 advanced 1 and half a percent.

However, the British pound knocked back nearly 2 per cent, the first time since 2009.

London Mayor Boris Johnson's support of UK to leave EU is said to be catalyst behind the fall.

Germany's DAX jumped 2 percent

and France's CAC added 0.2 percent.

Chinese Smartphone Markers Steal the Limelight at the MWC

Chinese smartphone makers are taking centre stage at the ongoing Mobile World Congress in Barcelona.

Huawei has just launched its first Windows tablet MateBook, priced at some 800 dollars in the US market.

Another company ZTE is also launching the ZTE Blade V7 at the show.

The large-screen smartphone comes with a 13 megapixel back camera and a 5 megapixel front camera.

Xiaomi is expected to make its debut in Europe with the Mi5 smartphone on Wednesday.

Adam Zeng, Chief Executive Officer of ZTE Mobile Devices, says the company is confident of gaining more strength in key markets overseas.

"In future, our strategy is to leverage our success in China and the US, and the European markets, to expand into additional strategic countries around the globe. We hope that in the next three to five years, ZTE can be a top three smartphone vendor in selected markets."

As such, major players in the mobile market are seeing more competition from the Chinese brands, especially over mid-range smartphones.

Nicole Scott is an industry observer.

"So we are seeing the impact of the Chinese manufacturers here at Mobile World Congress. Everybody is launching a mid-range phone, because it is all about pricing, versus not necessarily having high specs but having a phone that just works really well."

The Mobile World Congress is the most important mobile communication event in the world.

Over 2 thousand companies are exhibiting their products and around 95 thousand visitors are expected during the 4-day event.

Letv Files Suit for Damages from Baidu

Chinese online video media group LeTV has filed a lawsuit against Internet giant Baidu for illicit competition.

A local court in Beijing revealed that LeTV has accused baidu of blocking all advertisements while streaming online Letv to users.

LeTv is claiming compensation from Baidu of 1 million yuan or over 150 thousand US dollars.

According to LeTv, webpage and cut-in ads have been blocked without authorization when users watch the Letv online stream via the Baidu Video app.

As such, LeTv said it has been unable to gain advertising revenue from pre-rolling advertising.

Baidu has yet to comment on the case.

SF Express Targets IPO in the A-share market

CITIC Securities and China Merchant Securities are reportedly advising Chinese delivery firm SF Express for a possible A-share listing.

Reports at this point suggest the two brokerages are "counseling" SF Express about its plan to go public on the mainland.

Details surrounding the possible SF Express IPO have not been forthcoming.

However, it's widely expected the 20-year old company will be hitting the market for a cash injection to keep up with its massive demand.

SF Express currently has over 10-thousand overseas service centers.

Fellow Chinese delivery firm ZTO Express announced this past week that it is looking at either a Hong Kong or New York listing.

Observers have suggested a ZTO listing in New York could rival Alibaba's 25-billion US dollar IPO in 2014.

Net outflow of China's financial ODI surges in 2015

Anchor:

New figures from the Chinese government appear to show the flow of capital through the financial system in China over the course of this past year hasn't been as significant as some observers have been suggesting.

Stats from the State Administration of Foreign Exchange indicate foreign investment by Chinese financial firms through 2015 hit around 75-billion yuan, or some 1.2-billion US dollars.

This is double the amount spent by Chinese financial institutions during 2014.

Figures released by the Chinese government also show foreign financial companies poured in just under 70-billion yuan into the Chinese market last year, but also pulled around 20-billion out.

The net inflow of around 50-billion yuan through 2015 is down just under 2-billion yuan compared to the whole of 2014.

For more on the data, we are now joined live on line with Gao Shang, analyst with Guantong Futures.

Questions:

Q1. We saw a massive increase in outbound investment by Chinese financial firms. What are the reasons behind the surge?

Q2. What influences has the splurge by Chinese firms overseas brought to the global market?

Q3. Earlier, China's commerce minister said the country will step down on preferential offers to foreign capitals. What are your forecasts for the financial FDI going forward?

Back Anchor:

That is Gao Shang, analyst with Guantong Futures.

IEA Sees Low Oil Prices in Short Term

The International Energy Agency has warned consumers that global oil prices will remain low in the short time.

In a newly-released report, IEA said it expected oil prices to start picking up in 2017.

But it forecasts that it would be hard to see a price spike in the short term unless there is an unexpected fall in non-OPEC oil production, or a large demand increase.

The report suggests oil supply will continue to exceed demand in 2016 by 1.1 million barrels per day.

At the same time, IEA Executive Director Fatih Birol has gone on-record as saying the impact of the output freeze deal proposed by Russia and Saudi Arabia may be limited.

Brent crude has slightly recovered after touching a 13-year low in January.

On Monday, the price stood at nearly 35 US dollars, up some 5 percent.

Sports

Jiangsu Suning arrive in Vietnam ahead of AFC Champions League tie with Becamex Binh Duong

In football action here in Asia,

Chinese Super League side Jiangsu Suning is in Vietnam for its impending AFC Champions League clash with Becamex Binh Duong.

Newly signed foreigners Alex Santos and Ramires are expected to start for Jiangsu.

Meanwhile, Shandong Luneng is in Tokyo for another AFC Champions League qualifying match.

Luneng is going to be hard-pressed to make it into the knockout stages, however, as the squad faces J-League giant Sanfrecce Hiroshima.

---

Over in Europe,

Manchester United has earned a place in the quarter-finals of the English FA Cup, rolling past Shrewsbury Town 3-nil earlier this morning.

---

Meantime, fellow Premiership side Arsenal is putting in its final preparations ahead of the first-leg of its last-16 European Champions League tie-up with Barcelona.

Arsenal manager Arsene Wenger.

"Our world is not perfect and no team is perfect, but they are not far from it, Barcelona, I must say. We have to use every moment in the game where we have a chance to score and as I said to you after the game against Hull where we had 70 per cent of the ball, we didn't make a lot of it, against Barcelona we'll have much less of the ball and we'll have to make more of it."

Barcelona is looking to become to the first club to successfully defend the Champions League title since its rebrand in 1992.

Draw for New Chinese Super League Season Set

This year's line-up for the Chinese Super League has been set.

The season is set to kick off on March 4th, with Guangzhou R&F taking on newly-elevated Hebei China Fortune.

The official opening ceremony for the new Super League season will be the next day on March 5th in Jiangsu as Suning plays host to Shandong Luneng.

This year's Chinese Super League season will draw to a close on November 5th.

Copa America Draw Results

The draw for this year's edition of the Copa America has been released.

Hosts the United States will open the tournament against Colombia in Group A in New York.

Team USA Manager Juergen Klinsmann.

"Oh, I think it's very very exciting having Colombia with this wonderful team that they have. We played a year and a half ago actually in London in a test game and we lost at the very end and it was a fantastic game, so this is gonna be very exciting to start the tournament in Santa Clara against Colombia and then Costa Rica and Paraguay, two other very strong teams, so this is what the Copa America is all about, it's about getting challenged these are top teams and we gonna do well."

Ten cities in the US will play host to the Copa America matches starting from June 3rd.

The 100th edition of the Copa America is being held outside South America for the first-time ever.

Roster for 2016 World Team Table Tennis Championships Announced

Team China's roster for this year's World Team Table Tennis Championships has been announced.

World champions Ding Ning, Li Xiaoxia, Zhu Yuling, Liu Shiwen and Chen Meng will represent China.

This year's World Team Table Tennis Championships is set to get underway on February 28th in Malaysia's capital, Kuala Lumpur.

A total of 84 teams will be competing for the title.

China finished 2nd in the last World Championships after going down to Singapore in 2010.

Ahead of that, the Chinese team had won 8-straight world titles.

Djokovic Beats Robredo in Straight Sets

In tennis,

The Chinese duo of Zheng Saisai and Xu Yifan have powered their way into the second round of the Qatar Open, ousting Chuang Chia-Jung and Oksana Kalashnikova in straight sets 6-4, 6-2.

In women's singles from Qatar,

Italian veteran Sara Errani, who just won the Dubai Tennis Championships last weekend, is into the second round after winning a three-set battle over Bulgarian Tsvetana Pironkova.

Fellow Italian Roberta Vinci has also progressed.

Other winners on the day include former world number ones Jelena Jankovic and Caroline Wozniacki, as well as American Coco Vandeweghe.

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On the men's side,

Top-seeded Novak Djokovic has made it into the last 16 of the Dubai Tennis Championships after blowing over Spain's Tommy Robredo in straight sets 6-1, 6-2.

The world number one is now only one win away from his 700th career singles victory.

Djokovic can accomplish the feat by getting past Tunisian wild-card entry Malek Jaziri in round-2 in Dubai.

Warriors to Take on Hawks for 50th Win

In basketball,

The Golden State Warriors are set to try to hit the 50-win mark later on this morning on the road in Atlanta.

A victory over Atlanta will make Golden State the fastest NBA team to reach 50 wins in history.

The Hawks are trying to avoid their first 4-game home losing streak in 9-seasons.

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In other action,

Cleveland is shooting for 6-straight at home to Detroit.

Toronto is in New York to take on the Knicks.

Indiana is in Miami.

The Clippers are entertaining Phoenix.

Boston is on the road in Minnesota.

And the Lakers, losers of 5-straight, will try to right-the-ship this morning in Milwaukee.

Leafs Sell off More Property Ahead of Trade Deadline

A light schedule this morning from the National Hockey League, with only 4-games on the go.

League-leading Washington is at home to Arizona, looking for its 4th-in-a-row.

Boston is at home to Columbus.

Nashville is in Montreal.

And the surging St. Louis Blues look to make it 6-in-a-row at home to San Jose.

The Sharks will be without the services of Raffi Torres.

The gritty veteran has been dealt to Toronto as part of another pre-deadline deal by the Leafs as the club looks to shed players and pick up draft picks as part of its rebuilding strategy.

Toronto has dealt defenseman Roman Polak and forward Nick Spaling to San Jose in return for Torres and San Jose's 2nd round picks in 2017 and 2018.

Yuki Kadono wins his second Air+Style title

Sweden's Sven Thorgren has finished out this year's professional snowboarding season as the champion.

Thorgren has taken the title after finishing 3rd at the Los Angeles Air & Style competition.

"It feels amazing. I got one ring before, to get another one.... this is the tour title is really big to me. It means so much to me and I can't believe it right now. "

19-year old Japanese rider Yuki Kadono took the top prize in LA, defending his title from last year.

Entertainment

Beijing International Film Festival Releases first batch of movies

The first batch of movies of this year's Beijing International Film Festival has been reveal.

The selections cover 19 films in 6 categories with highlights including all four installments of the "Alien" franchise, and two Billy Wilder movies - "Sunset Boulevard" and "The Apartment" to mark the 110th anniversary of his birth.

Movies celebrating the 20th anniversary of the Milky Way Image Co. Ltd in Hong Kong and paying tributes to female movie stars such as Marilyn Monroe, Setsuko Hara, and Chen Yanyan will also be screened during the festival.

Founded in 2011, the Beijing International Film Festival serves as a high-profile forum to enhance the interaction between the Chinese and the international film industries

This year's festival is the sixth of its kind and runs from April 16th to 23rd.

Rihanna & Drake Rise to No. 1 on Hot 100 with 'Work'

Rihanna's "Work" featuring Drake, has reached No. 1 on the Billboard Hot 100.

"Work" -the first single of Rihanna's recently released eighth album-"Anti" is her 14th top album, lifting her above Michael Jackson for the third-most No. 1s all-time.

Only Mariah Carey and The Beatles stand ahead of her with 18 and 20 respectively.

Drake also scored his second Hot 100 No. 1 with "Work."

His first was due to a guest spot on another Rihanna single, 2010's "What's My Name?"

As a lead artist, Drake has risen as high as No. 2 with "Best I Ever Had" and "Hotline Bling".

Justin Bieber's "Love Yourself" is dethroned to No. 2 after two non consecutive weeks at the top of the chart.

Flo Rida, Zayn, Adele, G-Eazy, The Chainsmokers, and DNCE, round out the top 10.

Taylor Swift donates $250K to Kesha

Taylor Swift is joining other female stars to offer support for fellow pop star Kesha - who's battling to get out of a contract with Dr. Luke.

But her support is in the form of money.

Swift has donated 250-thousand US dollars to Kesha to help her in her legal battle against her megahit producer.

Kesha lost a court case on Friday against allegedly-abusive producer Dr. Luke - who has worked with artists ranging from Britney Spears , Katy Perry to Nicki Minaj.

The court ruled that the singer was obligated to fulfill a multi-album deal with Sony Records regardless of the allegations.

The ruling has led to an outpouring of support for Kesha on social media including Lady Gaga, Miley Cyrus, and Lorde.

"Prison Break" Event Series adds "Royal Pains" Star Mark Feuerstein

Fox's revival of the hit series "Prison Break" has added a new addition to its lineup.

"Royal Pains" star Mark Feuerstein has reportedly agreed to a recurring role in the reboot.

Feuerstein will play Scott Ness, the husband of Doctor Sara Tancredi.

Tancredi is the prison doctor originally played by Sarah Wayne Callies.

Callies herself has yet to sign-on to the new incarnation of "Prison Break."

Original stars Wentworth Miller and Dominic Purcell are reportedly set to return as the brothers.

"Prison Break," which aired from 2005 to 2009, became one of the most popular foreign TV series in China during its run.

Production dates and the release of the series' revival has yet to be set.

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

Recapping our top stories ...

The United States and Russia announce a plan for an end to hostilities in Syria.

Chinese Foreign Minister, Wang Yi, heading to the United States for a round of top level talks.

China's top legislature restarts bilateral exchanges with Japan's House of Councilors.

International calls for China to do more to curb industrial overcapacity.

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.