新闻纵贯线 The Beijing Hour updated 08:00 2016/02/25（在线收听）

The Beijing Hour

Morning Edition

Bob Jones with you this Thursday February 25th, 2016.

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

Coming up on the program.

Chinese Premier Li Keqiang assures the World Bank that China has the experience to stimulate economic growth and create new jobs.

China to train more pediatricians in the time for the Two-child Policy

Russia cuts back on airstrikes in Syria ahead of Saturday's ceasefire deadline.

In Business - China sets out pilot reforms for state-owned enterprises.

In Sport - Rio unveils 100 day Olympic Torch journey.

And in Entertainment - China box offices reach the 10 billion yuan target in record time.

All that coming up in the next hour.

Top News

Premier Li to WB Chief: China Experienced in Dealing with Risks

Chinese Premier Li Keqiang has assured the head of the World Bank that China is seeing a new dynamic for economic growth and creating new jobs.

The President of the World Bank Group, Jim Yong Kim, was in Beijing ahead of the Group of 20 meeting of central bankers and finance ministers, scheduled for Friday and Saturday in Shanghai. The meeting is expected to focus on stabilizing the global financial markets and promoting economic growth.

Li Keqiang told the World Bank president that China had gained rich experience from its past development and has sufficient policies and tools to deal with the difficulties it faces and any new challenges and risks.

The Chinese premier expressed willingness to improve information-sharing and strengthen coordination and collaboration with the international community.

Premier Li made no reference to a possible second Plaza Accord - this time focused on the Yuan - reports of which have appeared in some overseas media.

The first Plaza accord in 1985 saw an international agreement to intervene in the currency markets, and some commentators blame it for creating the Japanese asset bubble and subsequent economic slowdown.

THAAD Deployment in ROK to "Directly" Impair China's Security Interests: FM

China's Foreign Ministry has noted again that the deployment of a US missile defense system in South Korea will directly impair China's security interests.

Spokeswoman Hua Chunying made the remarks on Wednesday, just hours after Foreign Minister Wang Yi and US Secretary of State John Kerry agreed to limit further progress of North Korea's nuclear missile program by endorsing a new UN resolution in the near future.

The US and South Korea started talks on siting the THAAD advanced missile defense system in the south, after the Pyongyang allegedly launched an Earth-observation satellite earlier this month. The launch was widely regarded as a ballistic missile test.

Meanwhile, Hua Chunying declined to confirm media reports that Chinese companies in the border city of Dandong have stopped coal trade with North Korea.

She noted, however, that China always strictly abides by UN resolutions on North Korea.

Mainland Slams Proposal to Abolish Sun Yat-Sen Portraits in Taiwan

Mainland authorities have issued a response to a proposal from a Taiwan lawmaker's suggestion of removing portraits of Sun Yat-sen from schools and government buildings.

The State Council's Taiwan Affairs Office is describing the proposal by the DPP lawmaker as an "open trick," saying the move is meant to try to sabotage cross-strait peace and stability.

Sun Yat-sen, commonly known on the mainland as Sun Zhongshan, was the head of the 1911 revolution which led to the overthrow of China's dynastic rule.

He's considered by most on both the mainland and Taiwan as the catalyst behind the formation of a modern China.

China to Promote Eco-Friendly Burial

New directives are being issued, calling on Chinese families to help save space in cemeteries by interring their dead relatives together in tombs.

An official guideline issued this week is calling on families to adopt "environmentally-friendly" methods for burial.

These include burials at sea to try to save land.

People living in big cities are being asked to store cremation urns in halls or storage spaces in an attempt to save space.

Tree planting and flowers are also being suggested as a way to minimize the use of tomb stones.

Underground tombs are also being discouraged.

Under the current rules in China, grave sites for the dead are only available for 20-years.

The new guidelines are calling on local governments to adhere to the rules, and "recycle" grave sites after the 20-year period is up.

Urban Planning Authorities React to Debated Guidelines

China's urban planning authorities have vowed that any plans to open gated residential compounds will be implemented "gradually" and after public consultation.

In a written statement, the Ministry of Housing and Urban-Rural Development affirmed that while gated residential communities are gradually opened up, resident's legitimate rights will be protected.

It's the latest response from the Chinese authorities aimed at calming a public outcry over a newly-released guideline on urban development.

The guideline released over the weekend called for easier access to streets and blocks, saying that no more gated residential compounds will be built and that roads in existing residential and corporate compounds would gradually be opened up to the wider public.

Earlier, the country's Supreme People's Court urged lawmakers to properly address the planned private to public transition, within the legal framework.

Beijing replaces New York as billionaire capital of the world

This year's Hurun Global Rich List shows Beijing has replaced New York as the billionaire capital of the world.

Hurun noted that out of a record 2,188 billionaires in 68 countries and regions, China took-up 568 places on the list with a hundred of them based in the capital.

The addition of 90 wealthy Chinese to the list this year also means China overtook the US in the total number of ultra rich for the first time.

Leading the Chinese billionaires is Wang Jianlin, chairman of the Dalian Wanda Group, China's largest real estate developer and the world's largest movie theater operator.

Jack Ma, founder and executive chairman of the e-commerce giant Alibaba, is ranked 36th, with 21 billion US dollars.

Topping the list are Microsoft founder Bill Gates, and renowned investor Warren Buffett, with 80 billion and 68 billion US dollars, respectively.

The combined wealth of the billionaires' club expanded by 9 percent to 7.3 trillion US dollars, higher than the GDP of Germany and the UK put together.

China's richest individuals contributed 1.4 trillion US dollars of the total, close to the GDP of Australia.

China to Train More Pediatricians in the Time of Two-child Policy

Anchor

As China's Two Child Policy begins to kick in, health officials here are saying the country is facing an increasing shortfall of pediatricians.

Already under strain from a shortage of trained doctors, measures are being put in place to bring more pediatricians into the system, and soon, as CRI's Huang Shan reports.

Reporter

Statistics from the National health and family planning commission show that currently there is only one pediatrician for every two-thousand children in China.

The shortage has made things difficult for parents.

One father of a two-year-old boy says when he brought his son, suffering from a fever to the Capital Children's Research Institute, they waited nearly all night, and even then failed to receive emergency care.

This experience is sadly not unusual. The country's over thirty-thousand health institutions with pediatric departments, receive 471 million outpatient visits annually, and can only provide care to around 22 million inpatients on average.

Jiao Yahui, a senior official with China's health commission, said the shortage of pediatricians is severe.

"The total population of children aged between zero to fourteen has now reached 230 million in China, but we have just 118,000 professional pediatricians across the country. This figure in per capita terms has remained far lower than other major developed countries. The number of pediatric medical personnel is far from being enough."

Chen Xiao, a senior pediatrician with over 30 years experience, says low salaries, the pressure of work, and the high risks involved are the main causes behind people's reluctance to become pediatricians.

"We usually see one outpatient every five minutes, which means we even don't have time to drink water or go to the toilet. Moreover, we have to work for more than 12 hours. Though characterized by acute onset, rapid progression, and high risk, children's diseases are diagnosed completely through doctors' observations. Therefore, pediatricians are facing greater pressures and risks than doctors treating adults."

Also - a decrease in the number of pediatric graduates has also fueled the shortage.

In response, Jin Shengguo, from the National Health and Family Planning Commission, outlined the country's plans to fill this gap.

"To ease the shortfall, China will enhance the training of pediatric resident doctors, train doctors who shift to pediatric care, and provide bespoke courses."

In addition, the nation's top 38 medical schools will enroll more students on post-graduate pediatric courses, and have at least one higher learning institute in each region offering undergraduate pediatric courses.

Jin Shengguo stressed that China will strive to increase the number of pediatricians to 140,000, representing 0.6 pediatricians for every 1,000 children, by the year 2020.

For CRI, this is Huang Shan.

Caili a Huge Burden for Grooms in China

Anchor

Marriages anywhere can be expensive once you factor in the cost of the celebrations and setting up a new home together.

Here in China, there's the added complication of of having to pay a Betrothal gift - often in the form of cash - to the bride's parents to secure the arrangement.

It's become a big issue in rural areas, which face particular demographic problems.

CRI's Luo Wen has more.

Reporter

In Chinese culture, after engagement, a man has to give the bride's family a betrothal gift, known as Caili in Chinese, to get married.

Nowadays, the Caili tradition has become more like a commercial transaction, and can place a heavy financial burden on grooms, especially in rural areas.

So exactly how much do you have to pay to get married in China? According to Mr. Chen from Shangdong Province the minimum price is around 100,000 yuan or about 15,320 U.S. dollars.

"Many grooms in Shangdong's rural areas have to take a loan to marry their brides. They borrow 100-200 thousand yuan to pay the "bride prices". And that's just part of the Caili. The groom's family sometimes has to own a commercial property in the center of a county which on average costs over 4,000 yuan per square meter."

However, simply having the money is no guarantee that a bachelor will find a good bride. In Henan province, matchmakers often evaluate the man's family background, appearance and education.

Zhang Yi, a researcher with the Chinese Academy of Social Sciences, says there are three main reasons for higher levels of Caili in China's rural areas.

"First is the demographic structure – there are fewer women than men in China's rural areas. The competition in rural China's marriage market is getting more intense. That's also caused by migration – more and more women of marriageable age leave their homes to work in urban areas. Thirdly is the Caili culture itself, the bride's family would ask for more Caili to look good while the groom would pay more to show they are capable of marrying better brides."

Some bachelors who don't have the financial means to secure a bride in rural China, are even turning to agencies in Vietnam, Cambodia and Myanmar to buy a spouse, because it's cheaper.

Zhang Yi with the Chinese Academy of Social Sciences believes the real issue behind the rising Caili is poverty in rural China.

"In the process of urbanization, more and more people migrate from the countryside to the cities. Then rural areas become empty shells. With the aging population, we will see a bigger development gap between rural and urban areas. I think we need to find ways to narrow this gap. This is the real issue behind the rising Caili."

Zhang Yi also estimates that in the next ten years bachelors in China's rural areas will find it even more difficult find a bride due to the gender imbalance and increasing competition in the marriage market.

For CRI, this is Luo Wen.

China-Seniors/Living Environment

A new report is calling for immediate steps to try to improve the living conditions of Chinese senior citizens.

The National Working Commission on Aging says elderly-friendly facilities and services have to be a priority.

Central authorities are being urged to spend more on seniors, as well as increase the number of care homes.

Wang Shenyuan, Director of the China Research Center on Aging, says creating more available living spaces for the elderly is critical.

"Through installing specially-designed facilities for the elderly in all-age communities, or setting up and improving facilities for the old in the existing communities, we're going to create a better life for senior citizens. We'll also improve services for them and meet the demand of an aging population."

There are currently around 200-million people above the age of 60 in China.

This represents over 15-percent of the population.

The call for improvements in the living conditions for the elderly comes on the heels of Chinese President Xi Jinping recommending policy changes for birth, employment and the elderly in an attempt to try to cope with problems created by the country's aging population.

Government Spending On Vocational Education Increases

A survey is suggesting that vocational education is still a weakness of china's education system, although the country has witnessed much progress in the past year.

Briefing China's top legislature at the bi-monthly session, Minister of Education Yuan Guiren pointed to underlying reasons for the phenomenon.

"Graduates from vocational colleges are still facing an awkward situation -- a general bias against vocational school graduates and skilled blue-collar workers and technicians still exist. Moreover, a great majority of parents don't want their children to go to vocational schools."

As part of his speech, Yuan agreed to raise the average spending per student to at least 12,000 yuan in 2017.

After the survey on China's vocational schools last year, the central government laid out policies on 64 related issues, including improving vocational school facilities and more financial assistance.

The Ministry of Education is also drafting a revision to the vocational education law, in hopes of changing the current situation faced by China's vocational education.

Aircraft Found Crashed In Nepal

Family members of the 23 people killed in the crash of a Tata Airlines flight are arriving in Nepal to identify their loved ones.

Kashi Poudel with Nepal's Civil Aviation Department says the regional flight went down in heavy fog.

"This morning a Tara air twin otter aircraft with calling sign "Alfa hotel" was flying from Pokhara to Jomsom at seven o'clock. We were in contact with the aircraft until eight o'clock but after that we lost contact with them."

A Chinese national from Hong Kong is among the victims.

The twin-engine aircraft was en route to a popular hiking area in northern Nepal when the crash took place.

It's the 2nd time in as many years that a commuter flight into northern Nepal has gone down.

The crash in 2014 killed 18 people.

Russian Air Force Lowers Strike Intensity In Syria

The Russian Defence Ministry has said Russian warplanes have significantly decreased the intensity of their airstrikes in Syria over the past two days.

Igor Konashenkov is the ministry's spokesman.

"In the course of the last two days, Russian warplanes have significantly decreased the strike intensity. First of all, we are talking about areas where we have received or are continuing to receive claims to cease the fire and start negotiations, which had been made by local authorities or representatives of armed forces. The Russian aviation performs no strikes in these regions."

The spokesman said close to 190 terrorist targets were destroyed in more than 60 sorties over the past two days.

Earlier in the week, Russia and the United States announced a ceasefire plan in Syria, calling on all parties engaged in the conflict to put down their weapons at midnight on Saturday.

The Syrian government has pledged to abide by the agreement, but the deal does not include Islamic State or the Al Nusra Front, an affiliate of the al Qaeda terror group which is widely active in opposition-held areas.

The United Nations has said it hopes the cessation of hostilities will help resume the Syrian peace talks in Geneva, which broke up earlier this month after the Syrian government launched a Russian-backed offensive in Alepp in the north of Syria.

El-Sisi Suggests Militants Downed Sinai Plane

Egypt's leadership is finally conceding last year's plane crash in the Sinai was the act of terrorism.

President Abdel Fattah el-Sisi is suggesting for the first time that militants were behind the downing of a Russian passenger plane on October 31st, killing all 224 people on board.

"Those who downed the aircraft, what did they hope to achieve? Just to hit tourism? No, they also wanted to strike at our relations with Russia and, if they could, with the whole world, so we are left alone and isolated."

The Islamic State has claimed credit for the bombing, which has dealt a major blow to Egypt's tourism sector.

It has also raised questions about the state of its airports' security, as it's been suggested airport staff in Sharm el-Shiekh were complicit in allowing the bomb onboard the plane.

Until this point, Egyptian officials have been suggesting they want to wait until the findings of an international probe are released before saying what caused the crash.

Chinese Restaurants Boom in Moscow

Anchor

The vibrant dining scene in Moscow is ever changing. One recent trend is the increasing number of eastward-looking restaurants in the Russian capital. Most are owned by Russians but there are a growing number belonging to foreign investors, and thanks to booming political and economic ties between Russia and China, some of them come from China.

Julia Lyubova has the details.

Reporter

Just a few years ago, there were only a few Chinese restaurants in Moscow. But this has changed over the past year. More and more restaurants offering authentic Chinese food have sprung up in the Russian capital.

Aleksander Orlov is a well-known restauranteur and the owner of a chain called 'Tanuki' which offers Asian cuisine.

Aleksander has recently opened a new restaurant that specialises in Chinese food.

"Chinese food was very undervalued in Russia. I have been saying this for years. More restaurants are opening now and I think it is a trend and Chinese food is becoming very popular."

A lot of these new restaurants are Russian-owned. But not all. About a year ago, a Chinese investment group, CNPC, opened an upscale Chinese restaurant called 'Soluxe'. It caters mainly for business people, serving imperial Chinese food.

The restaurant's manager Ekaterina Zvezdina thinks that warm relations between Moscow and Beijing have to do with the rise in popularity of Chinese food in Russia.

"I think that popularity of Chinese cuisine has something to do with politics. Russia-China relations are rapidly developing, there's a gas contract in place and many businesses in Russia have offices in China or investment in China. They try the food in China and they want to try it in Russia and take their business partners to such restaurants."

8% percent of Moscow's eateries closed down between December 2014 and February 2015 as a result of the economic crisis. However, Chinese food entrepreneurs are positive about the future.

"I am sure that this trend will continue. We have difficult relations with Turkey and Egypt is closed now. So I think that the popularity of all things Chinese will continue to grow."

Since the introduction of a ban on Western food imports, European restaurants have been struggling without their foreign brands of cheese and meats. But Chinese food is very much available and welcome in Russia.

For CRI, I'm Julia Lyubova in Moscow.

Night Markets Land in America

Anchor

You've maybe heard of Farmer's Markets and pop-up shops. They've become commonplace is cities across the world. The latest shopping trend in the United States is seems to be Night Markets.

Still a rare sight in the US, they've been a common feature of Chinese communities for centuries.

CRI's Li Jianhua reports.

Reporter

Every Friday and Saturday night, the Night Bazaar comes alive on Larimer Street in Denver. The organizers describe it as an "authentic marketplace."

Local traders are excited by the new development.

"It's kind of the new way to shop."

And so are customers.

"The only night market that I've been to is in China. They had snakes that you could taste the snake venom."

Night markets in China can be traced all the way back to the Tang Dynasty - over a thousand years ago.

Sometimes called night bazaars, they are street markets which operate at night, and are typically held in the open air. They used to be limited to areas inhabited by ethnic Chinese, especially in Asia.

Traditional night markets are generally dedicated to more leisurely shopping, strolling, and eating than the more businesslike day markets.

But in Denver's night market, besides items such as food and drink, people can find a lot of other things too - even bicycle accessories.

James Unger's store is named Whiskey/Grade and sells apparel and accessories.

He said the Night Bazaar allows vendors to realize their dreams without too much outlay.

"This would be harder to do if we had to find our own building, or find our own space, and execute a long-term lease and all the other expenses that come with establishing a small business."

Visitors to this night market say it may be less exotic than the average shopping mall, but it is certainly more creative and personal.

The positive customer feedbacks encourage vendors like Unger.

"I think it's just a matter of time before these start popping up all over the United States."

The Night Bazaar opened last Autumn and is set to close at the end of March. After that, its organizers plan to try this new business concept in another place.

For CRI, this is Li Jianhua.

Johnson & Johnson Pays 72 Mln to the Victim Of Its Product

The pharmaceutical company Johnson & Johnson has been ordered to pay 72 million US dollars to the family of a woman from Missouri whose death from ovarian cancer was linked to her longstanding use of the company's talcum powder based products.

Jere Beasley, the attorney representing Jacqueline Fox, said the company had been hiding the truth from its consumers from the 1980's, that talcum powder could lead to cancer.

"They knew as far back as 1979 the association between talc and ovarian cancer. They knew that 1,500 women were dying each year from ovarian cancer caused or indirectly contributed to by talc and continued to sell, made a conscious decision not to warn."

But the company said they firmly believed the safety of cosmetic talc was supported by decades of scientific evidence.

The court awarded the family of the victim 10 million dollars in actual damages and 62 million dollars in punitive damages.

The verdict is the first by a US jury to award damages over claims that talcum powder is linked to ovarian cancer.

The company is likely to face hundreds of lawsuits alleging that it has failed to warn its customers of the risk of using the talc-based powder.

Earlier in 2013, there was a similar case in South Dakota, but Johnson & Johnson was not ordered to pay any damages.

Weather

Beijing will be cloudy with a high of 6 degrees Celsius.

Overnight temperatures should drop down to minus 4.

Shanghai will be sunny with a high of 11 and a low of 5.

In Chongqing, it will be overcast with a high of 14 and lows of 9.

Elsewhere in the world, staying here in Asia,

Islamabad will be cloudy with a high of 23.

Kabul will be cloudy with a high of 11.

Over to North America,

New York will have slight rain with a high of 13 degrees.

Washington, overcast with a high of 10 degrees.

Honolulu, slight rain, 27.

Toronto will see sleet with a high of 2 degrees.

Finally, on to South America,

Buenos Aires will be cloudy with a high of 30.

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

Headline News

China Experienced In Dealing with Risks: Premier

Chinese Premier Li Keqiang is moving to try to calm concerns about the state of the Chinese economy.

Meeting with World Bank chief Jim Yong Kim in Beijing, Li Keqiang says the Chinese government is experienced in dealing with various risks, suggesting there are still plenty of tools and policies available to avoid a "hard landing."

In making the statement, Li Keqiang says the Chinese government will continue implementing a proactive fiscal policy and prudent monetary policy.

But at the same time, the Premier says Chinese authorities would welcome additional policy coordination with the rest of the international community.

Jim Yong Kim is in China for the 2-day G20 Finance Ministers and Central Bank Governors Meeting in Shanghai, which gets underway tomorrow.

China to Crack Down On Hospital Appointment Touts

A new hospital referral system is going to be trialed in Beijing, Shanghai and Guangzhou.

Under the new system, people with specific medical conditions are going to be referred to different hospitals in the cities.

Patients in these cities are also going to be given referrals to community health centers, rather than hospitals.

Authorities say the move is mean to cut down on waiting times, as well as crack down on appointment scalpers.

Hospital appointment scalping became a major issue this past month after video surfaced showing a patient berating a would-be appointment scalper at a hospital in Beijing.

Municipal authorities have since launched their own crack-down on the practice.

Draft Law Highlights Peaceful Use, Sharing In Deep Seafloor Exploration

A new law on deep sea exploration has been unveiled by Chinese authorities

The draft says any exploration should abide by the principles of peaceful use, cooperation and sharing.

As part of the new draft, the environment and safeguarding common interests remain a priority.

The new legislation also covers technology research and encourages exchanges in this energy field.

Chinese lawmakers are set to review the new legislation next month at the annual "2-sessons" in Beijing.

Malaysia Airlines Reiterates "Fair and Equitable Compensation" To MH370 Families

Malaysia Airlines has issued a new statement, saying it remains committed to "fair and equitable compensation" for the families of those lost onboard on board flight MH370.

The statement comes after families began raising concern the airline might end up skirting its fiscal promises to the families of the victims.

It's being suggested the compensation process, which is set to expire it precedent in March, might not be adhered to.

Malaysia Airlines was privatized by Malaysia's sovereign wealth fund last year.

Flight MH370 disappeared on March 8, 2014, en route from Kuala Lumpur to Beijing with a total of 239 passengers on board.

Two-thirds of the passengers were Chinese.

It's believed the plane was intentionally ditched somewhere in the southern Indian Ocean after someone re-routed the airliner off its intended course.

Biz Reports

US And Europe Stocks

Anchor

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

U.S. stocks reversed sharp losses to end high on Wednesday.

The turnaround is mainly driven by a rebound in crude-oil prices.

Oil prices pared early deep losses, with Brent crude jumping over 3 percent on the day.

On the economic front, U.S. sales of new single-family houses in January missed market estimates. They were also 9 percent below the revised December rate.

Meanwhile, a reading on February's activity in the U.S. services sector dropped to its lowest level in 2 years.

On the corporate front, shares of retail giant Target Corp gained 4% after the company swung to a profit in the fourth quarter.

At the closing bell,

The Dow added 0.3 percent

The S&P 500 gained 0.4 percent.

And the Nasdaq advanced 0.9 percent.

In Europe, equities suffered big losses Wednesday amid weak earnings reports.

The UK's FTSE 100 fell 1.6 percent.

Germany's DAX plunged 2.6 percent

and France's CAC lost 2 percent.

China's Xiaomi Brand Releases New Smart Phone

Xiaomi has launched its new Mi5 smartphone.

The basic version of the Mi5 will retail in China for 2-thousand yuan.

Meanwhile, the Chinese phone-maker has also released an updated version of the Mi4.

Xiaomi is hoping to regain market traction after selling 20-million fewer phones than Huawei this past year.

Founder Lei Jun says his company is more concerned about quality, rather than quantity.

"We don't care too much about its market performance. We care about if there are enough Xiaomi fans who like our product. I went to the experience area after the press conference. I feel people highly value the phone. I feel happy about it."

Xiaomi has plans to release its new Mi5 model in a number of other developing markets, including Russia, Turkey and India.

"We see the Indian market as a local market. We must do things well there. As for other countries, we need to take our time and do things step by step. But our focus this year is to do a good job in the Indian market."

Xiaomi is able to access the Indian market after clearing up a legal challenge this past year.

However, a release date for the Mi5 model in India has not been set.

Pharmacy chains demand to scrap Ali health platform

A group of Chinese pharmacy chains has issued a joint statement, demanding the abolition of a medicine tracking platform run by Alibaba's Ali Health.

The 19 pharmacy companies claim Ali Health's access to the pharmaceutical information has created unfair competition and posed a threat to the safety of national data.

Over the weekend, China's food and drug regulator suspended the system, saying it was soliciting public opinion to revise regulations monitoring pharmaceutical sales.

Ali Health is also said to be in talks with the drug regulator to hand over its drug monitoring system to the authorities.

The suspension came after a pharmacy chain in Hunan sued the regulator over the monitoring system last month.

The Yontinhe Group alleged that the arrangement gave an unfair advantage to Ali Health, which has its own online drug sales business.

China launches 10 pilot schemes for SOE reforms

Anchor:

China is set to release pilot reforms for state-owned enterprises - or SOE's - in 10 areas later today (Feb 25).

The reforms include the functions and powers of directors, professional managers, investment, mergers and acquisitions, information disclosure.

They are part of SOE guidelines issued in September aiming to turn them into fully independent market entities with major reforms in key areas by 2020.

China has at least 150-thousand SOEs, which hold 100 trillion yuan or 15 trillion U.S dollars in assets and employ more than 30 million staff.

For more on this, we are now joined live on the line by Cao Can, CRI's Financial Commentator.

Talking Points:

Q1: What is at the heart of these SOE reforms?

Q2: What kind of state-owned enterprises are key during the process of the reform? Why? Are we talking old established industries - heavy industries?

Q3: Over the past year, some SOEs completed mergers and restructuring, including China's train manufacturing companies CNR and CSR, as well as shipping and logistics conglomerates COSCO and China Shipping. Will we see more of this in the state sector?

Back Anchor:

That was Cao Can, CRI's Financial Commentator.

CNPC Considering Spin-Off of Oilfield-Services Business

It is being reported the China National Petroleum Corporation, CNPC, may be planning to spin off its oilfield-services business.

CNPC Chair Wang Yilin has confirmed the state-run firm is considering an IPO of its oilfield services business.

However, no further details have been disclosed.

A sale of CNPC's oilfield services would align with the Chinese government's plan to privatize parts of the state-run sector.

In recent month, PetroChina, CNPC's listed unit, has sold off pipeline assets.

State-run energy giant Sinopec divested out of its oilfield services unit in 2014.

Central Bank Official: China Could Raise Its Budget Deficit To 4 Percent of GDP

An official from China's Central Bank has gone on-record as saying China could raise its budget deficit to 4 percent of GDP or even higher.

This is seen as an effort to offset the impact of reduced fiscal revenue and to support broader reforms.

Sheng Songcheng, director of the surveys and statistics department at China's central bank, was cited in an article published by "The Economic Daily" .

Sheng said the deficit increase would not incur big insolvency risks for the government.

China raised its budget deficit to 2.3 percent of GDP in 2015.

A 3-percent deficit ratio is normally considered a red line not to be crossed.

However, Sheng does not think the warning line fits with China's reality, saying the ratio should be determined by a country's debt balance and structure among other factors.

TCL, Unigroup Launch 10 Bln Yuan Buyout Fund

Electronics maker TCL Corp. has launched a 10 billion yuan, or 1.5 billion U.S. dollars industry-buyout fund with leading chip-maker Tsinghua Unigroup.

TCL chair Li Dongsheng says the two companies will identify acquisition targets within their production chains.

The fund will invest in areas including semiconductor chips, smart manufacturing and the Internet.

The move comes a year after a subsidiary of Unigroup invested 1 billion yuan in TCL, becoming its third largest shareholder

Unigroup also plans to create 300 billion yuan of industrial investment and buyout funds in the next three years.

Sports

Zheng Saisai Reaches Quarter-Finals in Doha

In tennis,

Zheng Saisai's run in Qatar continues.

The 22-year-old upended Canadian Eugenie Bouchard in straight sets 7-6, 6-1 last night to reach the quarter-finals.

Zhang Saisai's trip to the semi-finals has caught a break, as she's set to take on 18-year old Latvian Jelena Ostapenko.

The world number-88 is into the last-16 in Qatar after upsetting Petra Kvitova.

---

In other action,

World Number-3 Agnieszka Radwanska is through after recovering from a double break point in the 1st set to get past Romanian Monica Niculescu 7-5, 6-1.

She'll be up against 9th seeded Roberta Vinci.

The other brackets have 4th seeded Garbine Mugaruza up against German Andrea Petkovic, while compatriot Carla Suarez-Navaro will battle Russian Elena Vesnina.

---

On the men's side,

World number one Novak Djokovic has earned his 700th career victory on the ATP tour, rolling over Morroco's Malik Jaziri 6-1, 6-2 to reach the quarter-finals of the Dubai Tennis Championships.

"It's a great milestone and obviously as I said on the court, I enjoy every win that I've had so far in my career and it sounds like I've played many matches. Seven hundred wins is of course something that I'm very proud of together with my team we worked hard in this course of 10 years of my professional career and we remember the very first win I made on the tour and of course it's been a great ride, and hopefully I can keep going."

Djokovic will be up against 6th seed Feliciano Lopez in the last-8.

The other brackets have Stan Wawrinka battling German Phillip Kolschriber.

4th seeded Roberto Bautista-Augt will take on Cypriot veteran Marcos Baghdadis.

Aussie fire-brand Nick Kyrprios, off the heels of his first-ever ATP Tour win last week in Marseilles at the 13 Open, will be up against Tomas Berdych.

Shanghai SIPG Falls to Melbourne Victory 2-1 in AFC Champions League Opener

In football,

Defending champions Guangzhou Evergrande have opened this year's AFC Champions League campaign with a disappointing nil-nil draw with Pohang Steelers.

Other Champions League action saw Shanghai SIPG go down to Melbourne Victory 2-1 to drop their first group-match.

Beijing Guo'an did manage to get a Chinese club into the win column on Wednesday, destroying UAE side Ajman 8-nil in their last warm-up match in Dubai.

--

In European Champions League action,

It was Manchester City getting past Dynamo Kyiv 3-1 in the first leg of their round-of-16 tie earlier this morning.

The other Champions League match in Europe had PSV and Atletico ending in a goalless draw.

---

Tonight,

Midtjylland will look to continue its fairy-tale run in the Europa League.

The Danish club, in its first-ever appearance on the European scale, is set to battle Manchester United in the 2nd leg of their Europa League first-round knock-out match.

Midtjylland head coach Jess Thorup admits his squad is nervous, even with the 2-1 first-match advantage.

"For me tomorrow is a regular game – 11 against 11. Of course I know for most of the players it is maybe the biggest game in their career. But we've given ourselves a chance to show not only ourselves, but maybe the rest of you that we maybe have a chance of making the next round or beat Manchester United."

In other action from the Europa League.

It's Liverpool taking on Augsburg.

---

Schalke 04 are at home to Shakhtar Donetsk.

---

FC Porto takes on Borussia Dortmund.

LA Dodgers Manager Encouraged by Return of Korean Pitcher Hyun-Jin Ryu

Spring Training is now underway in Major League Baseball.

South Korean left-hander Ryu Hyun-jin has reported to the LA Dodgers sessions in Arizona.

Manager Dave Roberts says Ryu appears to be OK after recovering from off-season shoulder surgery.

"You know what, I just talked to him probably twenty minutes ago and there's just the normal soreness, which is very encouraging. And the volume and the intensity was up, so we're all pretty encouraged."

The 28-year old Ryu is expected to remain in Arizona for an extended Spring Training session while the rest of the club plays out the pre-season.

The Dodgers, who topped the NL West last year with a record of 92-70, are set to begin their pre-season action against the Chicago White Sox on March 4th.

Caps' Richards Has Drug Charges Stayed

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

Anaheim will look to extend its winning streak to 6 at home to Buffalo.

San Jose is in Colorado.

Boston entertains Pittsburgh.

And the league-leading Washington Capitals play host to the slumping Montreal Canadiens.

The Caps are expected to play newly-acquired Mike Weber.

The stay-at-home blue-liner was picked up from Buffalo yesterday for a 3rd round draft pick.

Meanwhile, it's been announced charges against Washington's Mike Richardson have been dropped.

Richardson was facing possible charges after being busted trying to cross the US border this past summer with Oxycodone without a prescription.

The bust led to the LA Kings dumping the two-time Stanley Cup winner's contract, allowing Washington to pick him up on a 1-year deal to help them in their playoff run.

Warriors to Take on Heat in NBA

In basketball,

Miami looks to play 'giant killer' this morning as they take on the defending champion Golden State Warriors.

The Warriors come into this morning's game with a 50-5 record.

Miami lost to Golden State 111-103 in their first meeting this season.

---

In other action,

The New York Knicks are in Indiana.

---

Philly looks to snap its 5-game losing skid in Detroit.

---

Jeremy Lin and the Charlotte Hornets take a 5-game winning streak into Cleveland to take on LeBron.

---

San Antonio, at 47-9 on the season, are in Sacramento to take on the Kings.

---

Atlantic Division-leading Toronto is at hom to Minnesota.

---

The Clippers play host to the Denver Nuggets.

---

Oklahoma City is in Dallas.

--

And the LA Lakers will try to stop their 6-game skid in Memphis.

Kobe and company are a dismal 11-47 on the season.

Torch Relay Event at Rio 2016 Headquarters

Details of this year's Olympic Torch Relay have been laid out in Rio.

Rio 2016 spokesperson Mario Andrada has announced the tour of the torch is set to begin in the capital, Brasilia, on May 3rd.

"It's going to be the biggest party of the history of Brazil. Everybody will 'carnival'. all over the place. Normally, we have kind of pockets of carnival. In Rio, in Salvador, in smaller cities not so much. This time, we are going to 'carnivalise' - if that word exists - the whole country."

The 100-day tour of the Olympic torch through Brazil will wrap up in Rio on August 5th at the opening of the Games.

Entertainment

Adele Dominates Brit Awards 2016

Adele has dominated the just-concluded Brit Awards held at London's O2 Arena.

The singer picked up four trophies out of five nominations, including the best British female and best single for "Hello" and Global Success Award as well as the album of the year award for the multi-million selling "25".

Coldplay opened Wednesday night's ceremony with a colorful performance of their single "Hymn For The Weekend".

They went on to win best British group - making them the most successful band in the ceremony's history.

James Bay was named best male.

Australian psych-rock band Tame Impala picked up best international group.

Canadian singer Justin Bieber, who performed his chart topping singles "Love Yourself" and"Sorry", won best international male.

The ceremony also featured a tribute to David Bowie, who died last month.

The 40th annual Hong Kong International Film Festival announces line up

This year's Hong Kong International Film Festival or HKIFF has announced its lineup.

Comedy "Chongqing Hot Pot" and gangster movie "Trivisa" have been chosen to open the festival.

And "Creepy", the latest thriller from Japanese director Kurosawa Kiyoshi bring the festival to a close.

The event will also celebrate the 25th Anniversary of Jet Tone Films, a film production company founded by director-Wong Kar Wai.

Fifteen of the company's films as well as two productions that have never been screened in Hong Kong - "Eros: The Hand," and "The Grandmaster 3D" will be shown as part of the celebration.

The HKIFF is also bringing together four directing talents with the premiere of a film "Beautiful 2016."

It is an anthology featuring segments by director Jia Zhangke, Stanley Kwan, Alec Su and Japanese horror film master Nakata Hideo.

Over 240 films from 66 countries and regions will be screen at the event.

The HKIFF runs from March 21st to April 4th.

China's Box Office in 2016 Surpasses 10 Billion Yuan Mark

Latest figures are suggesting that Chinese box office revenue this year has surpassed the 10 billion yuan benchmark - that's around 1.5 billion US dollars.

It took just 54 days to reach the target - the shortest time ever.

Last year, it took three months to reach 10 billion yuan in box office receipts, and in 2014 it took five months to earn that amount.

Nearly 30 percent of the current revenue has been earned by just one movie: Stephen Chou's new comedy "The Mermaid".

The film - now China's highest grossing film ever - has taken in 2.93 billion yuan so far and is on its way to being crowned as the first Chinese movie ever to earn 3 billion yuan at the domestic box office.

Booming ticket sales during holidays such as the Spring Festival Holiday and weekends have contributed to the box office record in the world's second-largest film market.

It's estimated that the total box office in 2016 could reach 60 billion yuan or some 9 billion US dollars if the current box office boom continues.

Costume Designers Guild Awards held ahead of Oscars

Another awards show leading up to the Oscars - the Costume Designers Guild Awards has been held in Beverly Hills, in California.

Actress Cate Blachett was honored with the "spotlight award".

The two-time Oscar winner emphasized the relationship between an actor and the costume designer:

"Everyone talks about an actor's relationship with the director, and often the most invisible relationship is the actor's relationship with the costume designer. It's foundational, where the whole process begins."

Director Quentin Tarantino took home the "distinguished collaborator" award.

Tarantino joked that even though the costume designers of his movies have not won Oscars, their work is celebrated every year - on Halloween.

Meanwhile, "Mad Max: Fury Road" and "The Danish Girl" were among the feature film winners at this year's awards.

The event was hosted by "Breaking Bad" star Betsy Brandt.

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

Recapping our top stories...

Chinese Premier Li Keqiang assures the head of the World Bank that China has the experience to stimulate economic growth and create new jobs.

China to train more pediatricians in the time fo the Two-child Policy

Russia cuts back airstrikes in Syria ahead of Saturday's ceasefire deadline.

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.