新闻纵贯线 The Beijing Hour updated 08:00 2013/11/08

The Beijing Hour
 
Morning Edition
 
 
Paul James with you on this Friday, November 8, 2013.
Welcome to the Beijing Hour, coming to you live from the Chinese capital.
Coming up on our program this morning...
Chinese Premier Li Keqiang has met with a group of provincial governors ahead of this weekend's highly-anticipated CPC plenary session.
Senior officials from China, Japan and South Korea have met for the first time in months amid the frosty political tensions in the region.
Swiss researchers looking into the death of former Palestinian leader Yasser Arafat say they believe his demise in 2004 was not accidental.
In Business.... Twitter wraps up its first day of trading in New York with a somewhat mixed result.
In sports... Roger Federer has kept his semi-final hopes alive at the ATP World Tour Finals.
In entertainment... a Chinese film is set to close the Rome Film Festival.
First, let's check on what's happening on the weather front...
 
 
Weather
 
 
Beijing will be overcast today, with a high of 13 degree Celsius in the daytime, and it will be overcast tonight with a low of 7.
In Shanghai, it will be cloudy today, 23 the high, and it will be cloudy tonight, the low of 19 degrees Celsius.
Lhasa will be cloudy in the daytime the temperature's at 15, and tonight will be cloudy with a low of minus 3 degree Celsius.
Elsewhere in the world, staying in Asia
Islamabad, sunny, 16.
Kabul, sunny, with a high of 8.
And in North America
New York, moderate rain, with a high of 17 degrees.
Washington, moderate rain, highs of 17
Houston, overcast, 19.
Honolulu, overcast, 28.
Toronto, sunny, 8.
Finally, on to South America,
Buenos Aires, moderate rain, 23.
And Rio de Janeiro will see moderate rain with highs of 24 degrees Celsius.
 
 
Top News
 
 
Chinese premier outlines major economic policies ahead of key party session
 
Anchor
Chinese Premier Li Keqiang has outlined the central government's major economic policies ahead of a key party meeting this weekend.
CRI's Su Yi has the details.
Reporter
Li Keqiang has made the policy statement following a meeting with several senior provincial governors.
The Chinese premier is emphasizing the need to manage the economy "within a reasonable range", saying any massive disruptions could derail the economy and make it "very difficult" to recover.
Li Keqiang has told the group of provincial governors that "development is the most important task for China".
He went on to lay out several major policy directions being promoted by his administration, including streamling the government, delegating powers to local authorities, urban renovation, stabilizing consumer prices and job creation.
At the same time, Li Keqiang has warned the governers that ignoring social welfare issues could disrupt the "psychological bottom line" of the Chinese society.
The four-day plenary session this weekend is expected to include discussions on a host of major new policies.
Both Chinese policy makers and observers have been suggesting ahead of this sesson that comprehensive reforms are a must, and must be brought in now.
Chinese Academy of Governance Professor Zhu Lijia,
"Social justice is a major issue China is facing now, including the widening income gap, corruption, agricultural issues, job creation as well as social integrity. These must be put onto the top agenda of this round of reform. We must reconstruct the core value and key strategy of reform by promoting social justice. Only a just society is sustainable and only a just society can make people satisfied."
Political analyst Yu Haisheng is echoing this view, saying comprehensive reforms will unleash the power of China in an unprecedented way.
"Once the key barriers hindering the reform of education, pension system, healthcare and Hukou can be broken, I believe it could unleash massive energy in the Chinese society. It is just like what the country did at the exact same session of the 11th Central Committee."
The policy roadmap of previous Chinese administrations is usually laid out by the central committee during the third plenary sessions, which happen every five years.
For CRI, I'm Su Yi.
 
 
Roadmap of Reform: Finance
 
Anchor
Economic observers are anticipating this weekend's party meeting may see changes proposed to the way the financial sector here in China is managed.
CRI's Cao Yuwei explains.
Reporter
China's financial system is largely supported by the banking sector, which contributes over 80-percent of the capital on the financial market.
Meantime, experts say the banking sector is dominated by the five largest state-own commercial banks, implying a large inequality in the distribution of resources.
Chief economist of China CITIC Bank, Chu Xinfang, says allocation of resources is a crucial part of financial reform.
"Based on the current situation, companies rely on indirect financing from banks, with direct financing such as from the stock market is still playing a supporting role. Such a financing system is not suitable for economic development."
He adds that to expand channels for loan floatation and set up a multi-layer financing system is urgently needed to meet up with market demand.
Chu Xinfang also says liberalizing interest rates and foreign exchange rates can help optimize the allocation of resources. However, currently the government's decision is still believed to be the major driving force behind the pricing mechanism in the banking sector.
Andrew Peaple with Wall Street Journal says mandated interest rates might lead to mispricing of credit.
"Broadly speaking, there is still a mandated interest rate for banks to lend and also a mandated interest rate for you place your deposits at the banks. And there is a gap between those two. That guarantees the banks a certain amount of profits. Now that has been the system to date. But obviously that can lead to what we call the mispricing of credit."
His suggestion is to let interest rates go with what the market will actually pay.
But he's also concerned a sudden reform may lead some companies to go bankrupt.
At this point, Chu Xinfang says it's an inevitable result of competition.
"The point is how to let uncompetitive companies orderly withdraw from the market. For example set up a buffering mechanism for companies going bankrupt."
Recently, the Chinese government has been working towards further opening up the financial market.
Policies are favoring entity economy and allowing private capitals into the banking sector.
With Shanghai Free Trade Zone as a pioneer project, experts believe much more is coming after the third plenary session.
For CRI, this is Cao Yuwei.
 
 
Senior diplomats from S.Korea, China, Japan hold talks amid frosty ties
 
A trilateral meeting among China, South Korea and Japan has been held to discuss ways to increase cooperation among the three countries.
South Korean Deputy Foreign Minister Lee Kyung-soo, Chinese vice Foreign Minister Liu Zhenmin and Japanese Deputy Foreign Minister Shinsuke Sugiyama took part in the talks in Seoul.
Liu Zhenmin says all involved need to do more to push forward regional cooperation.
"Overall speaking, the trilateral cooperation has continued to move ahead over the past years, but the progress has been slow due to some difficulties and challenges. I hope today's Seoul trilateral meeting will be offering help to increase mutual understanding and trust among us and contribute to a sound and stable development of the trilateral cooperation in the coming years."
No formal talks among the three Asian powers have been held since a trilateral summit and ministerial-level talks were held here in Beijing last year.
Territorial disputes among the variouis sides, along with issues connected to their various militaries, has created a frosty political environment here in East Asia.
 
 
P5+1 talks started in Geneva over Iran nuclear issues
 
A new round of nuclear talks among Iran and the P5+1 grouping is underway in Geneva.
Ahead of the session, Iranian Foreign Minister Mohammad Zarif has expressed guarded optimism about the possiblity of reaching a tenative agreement this week.
Representatives of the 5-permanent members of the UN Security Council, plus Germany, are also sounding optimistic.
Michael Mann is a spokesperson for EU foreign policy chief Catherine Ashton, who is leading the negotiations for the P5+1.
''In any negotiation, it depends on both sides. We have come here with serious intent to get into the detail and make concrete progress, and we hope the Iranians will have the same attitude.''
The White House says world powers may consider offering limited sanction relief if Iran takes concrete steps to halt its nuclear activities.
At the same time, the Chinese government has issued a new statement, calling for flexibility and pragmatisim in this latest round of negotiations.
The P5+1 is pressing to have Iran stop enriching high-grade uranium.
Iran is hoping to have a series of international sanctions on it lifted.
 
 
Israeli forces shoot dead Palestinian in West Bank
 
Adding to the already-existing tensions, Israeli forces have shot and killed a Palestinian man at a check point in the West Bank.
The man was shot and killed after firing a flare gun at Israeli soldiers at the check point near the city of Nablus.
No Israeli soldiers were hurt in the attack.
The incident comes amid a visit to the region by US Secretary of State John Kerry, who has been working with both the Palestinians and the Israelis to try to hammer out the details of a lasting peace accord.
Tensions are already running high following allegations by Hamas that Israel is responsible for the poisioning death of former PLA leader Yasser Arafat.
 
 
Arafat's polonium ingestion not accidental: forensic doctors
 
Swiss scientists who have been studying the remains of former Palestinian leader Yasser Arafat contend his death was not accidental.
A Swiss lab has examined Arafat's remains, his clothes and a travel bag he had with him in the days before his 2004 death in a Paris hospital.
They say they've found traces of radioactive polonium and its byproduct, lead, in quantities that couldn't be naturally occurring.
The scientists taking part in the study also suggest the time frame of his illness and death is also consistent with polonium poisoning.
Patrice Mangin is the director of Lausanne University Hospital's forensics center.
"As you can imagine polonium cannot be found everywhere, it is a very rare, toxic substance. If you have to face polonium ingestion, of course, a third party has been behind this."
At the same time, Swiss researchers also admit they can't unequivocally say what killed Arafat, given that the biological samples obtained just last year were too degraded to determine the cause of death.
The Israeli side is rebuffing suggestions by Hamas that it's to blame for Arafat's death, suggesting the 75-year old lived an unhealthy lifestyle.
 
 
Kurdish Turks protest building wall along Syrian border
 
Massive demonstrations have been taking place in southeastern Turkey, where the local Kurdish population has been protesting the planned construction of a wall between the Turkish-Syrian border.
Thousands of local Kurds have taken to the streets, demanding Ankara back down on its plans to build the 2.5-kilometer barrier.
Riot police had to use tear gas to dispurse the crowds after the demonstrations turned violent.
The local Kurdish community is upset with the planned wall, saying it will divide communities and families living in a town just across the border on the Syrian side.
Turkish authorities contend the proposed wall is meant to prevent smuggling.
When the current international borders were drawn up in the region following the collapse of the Ottoman Empire following World War I, many ethnic communities - including the Kurdish population - were left separated in different countries.
Kurdish rebels have been fighting for decades for their own separate homeland in southeastern Turkey and the northern parts of Syria and Iraq.
 
 
China is still in great demand of personnel to serve positions in international organizations
 
Anchor
Despite the recent election of a leading Chinese official to head UNESCO, a number of observers say there is still a lack of talent being cultivated in China to take key positions on the international stage.
CRI's Xie Zhao explains.
Reporter
Hao Ping, the Vice Minister of Education, is the first Chinese person to chair UNESCO for a two-year mandate.
The Vice Minister says the appointment indicates not only can he be relied upon to fulfill the role, but China can also be trusted.
"Today, I feel that my mission is glorious and my responsibility is huge on this solemn platform. All the representatives of the UNESCO member states have unanimously elected me to the president of the 37th General Conference. This means not only am I trusted, but my nation is trusted."
Hao Ping adds his appointment reflects China's growing influence on the world stage.
"With China's growing national strength and increasing influence on international affairs, many countries have high expectations of China, the world's second-largest economy. They hope China can be trusted with responsibilities in UNESCO and take the role of a responsible country."
Wu Jianmin is China's former ambassador to France, and former chairman of the International Exhibition Bureau.
He says another factor contributing to Hao's appointment is his numerous qualifications.
"China has its own candidate. That's Hao Ping. However, if the candidate was not accepted, the appointment could not be realized."
Besides Hao Ping, a rising number of Chinese have taken key positions in international organizations over past years, such as WHO Director-General Margaret Chan, IMF deputy director Zhu Min, and Li Yong, Director General of the United Nations Industrial Development Organization.
However, according to a new report from the United Nations, compared to other major countries in the world, the proportion of Chinese serving international organizations is relatively low.
As of June, there are only 74 Chinese nationals working in the UN secretariat, excluding translators.
This number is much lower than the UN's estimate which ranges between 116 to 157.
Meanwhile, there are only 11 Chinese nationals serving senior management positions, compared to 48 American, 19 British and 14 Japanese nationals.
Wu Jianmin explains China still lacks personnel to serve key positions at international organizations.
"On one hand, it's a matter of whether or not international organizations need China to send more people to fill in these positions. On the other hand, it depends on whether or not we have qualified candidates. According to my experience, people from other countries serving higher positions in international organizations are usually very familiar with how the organizations work. That needs years of working experience in those organizations."
Wu suggests China should foster more young talents, and dispatch them to work for international organizations as early as possible.
For CRI, I'm Xiezhao.
 
 
Biz Reports
 
 
Anchor
First off, a check on the stock market of North America and Europe.
Join me on the desk, CRI's Ding Lulu.
Reporter
US stocks slid as faster economic growth spurred concern the Federal Reserve will scale back stimulus sooner than expected, dragging the S&P 500 to its biggest loss in a month.
Meanwhile, the number of Americans initially applying for unemployment aid fell for a fourth consecutive week, but remained well above the pre-shutdown level.
Meanwhile, Chinese equities in New York fell for a third day as 51job tumbled after Morgan Stanley reduced its recommendation.
Morgan Stanley cut its rating on 51job to the equivalent of sell, saying the online human resources company's stock is trading at expensive valuations following better-than-estimated profit.
51job sank the most in two years, while Soufun slumped as much as 15 percent.
Suntech Power capped a two-day 44 percent drop on concern its restructuring plan will be derailed.
The iShares China Large-Cap ETF, the largest Chinese exchange-traded fund in the U.S., declined 1.4 percent, dropping for a third day.
When the market closed, The Dow fell 1 percent, the S&P 500 plunged 1.3 percent while the Nasdaq lost 1.9 percent.
Over to Europe, European shares ended flat in heavy, volatile trade as a boost from an unexpected rate cut by the European Central Bank was offset by funding concerns for smaller banks.
About three stocks dropped for every two that rose in the Stoxx Europe 600 index.
Germany's DAX gained 0.4 percent. France's CAC 40 lost 0.1 percent. And Britain's FTSE 100 dropped 0.7 percent.
 
 
Live call-in with Doug Young on corporate news of the week
 
Anchor
Twitter has completed its first day of trading in New York.
Twitter priced its initial public offering at 26 US dollars per share, valuing the company at more than 18 billion US dollars.
Twitter opened trading on Thursday at 45-dollars-10-cents a share in the first minutes of trading, which is 73-percent jump from the initial asking price.
Twitter rose to as high as 50-dollars-09-cents.
However, it closed out trading on Thursday at 44-dollars-90-cents, meaning investors who bought shares at the opening price actually lost money.
The Twitter IPO was the most anticipated Facebook's 2012 debut.
Facebook's shares closed just 23 cents above their 38 US dollar IPO price on its first day of trading.
The stock soared within hours of its debut to a high of $45. But its price later slumped.
Facebook has traded below 38 US dollars for more than a year.
Now for more on Twitter's IPO and other corporate news this week, we are joined live by Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
1. What do you think about twitter's performance on its first trading day, not too bad comepared to Facebook?
2. What's behind the surge of twitter's price since is unprofitable and has one-fifth as many users as Facebook?
Backgrounder for Suntech:
Suntech Power, the Chinese solar manufacturer whose main unit was dragged into bankruptcy in March, filed for provisional liquidation in the Cayman Islands and may also seek protection from creditors in the U.S.
1. It looks like Suntech Power is finally going to bite the dust. Is this the end of the company?
2. We knew that Suntech plans to emerge from bankruptcy restructuring as a distributor—rather than a producer of solar panels. will it be possible for Suntech to achieve a restructuring to return Suntech and its subsidiaries to solvency?
3. What's the impact of Suntech's liquidation on the Chinese and international solar panel industry?
Back Anchor
Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
 
 
ECB cuts interest rates to new low
 
The European Central Bank has cut its benchmark interest rate by 25-basis points to a record low of 0.25 percent.
The move has taken the financial markets by surprise.
The euro has fallen sharply, while at the same time, European shares have risen.
ECB President Mario Draghi says the cut has been made, given they feel the euro zone is due to experience a "prolonged" period of low inflation.
"Taking into account today's decision, the risks are broadly balanced for inflation so we believe that we have contributed to shorten this protracted period of time with today's decision."
Inflation in the eurozone fell to 0.7 percent in October - its lowest level since January 2010.
The ECB's target is to keep inflation just below 2 percent.
In May, the ECB cut the benchmark refinancing rate by 25 basis points to a record low of 0.5 percent because of weak economic expectations.
 
 
U.S. economy grows 2.8 percent in third quarter
 
New data shows the US economy grew at an annual pace of 2.8 percent through the third quarter.
This has come in above market expectations, and is an improvement on the 2.5 percent pace seen in the previous quarter.
Growth in the US has been bolstered by rising exports, businesses restocking shelves and a pick-up in home construction.
However, the pace of growth in consumer spending slowed to 1.5 percent from 1.7 percent seen in the previous quarter.
Consumption accounts for about 70 percent of the overall U.S. economy.
The release of the third-quarter GDP figures was delayed by a week because of the partial shutdown of the US government last month.
 
 
Chinese Premier voices hope to advance BIT negotiation
 
Chinese Premier Li Keqiang says he hopes China and the United States can advance negotiations on a bilateral investment treaty.
The Chinese Premier says the two sides need to convert their complementary advantages into cooperation.
He also says China and the US need to properly handle their differences to safeguard the overall development of bilateral ties.
Li Keqiang has also called on the U.S. side to provide a fair competition environment for Chinese investment in the U.S. and relax its restrictions on high-tech products to China.
The Premier has made the comments while meeting with former U.S. Treasury Secretary Henry Paulson here in Beijing.
 
 
Taiwan, Singapore sign key free trade agreement
 
Authorities in Singapore and Taiwan have signed a free trade agreement.
This is one of the first such agreements for Taiwan.
The agreement will eliminate tariffs on 97 percent of Singapore's exports to Taiwan when the FTA first takes effect.
The deal will eventually allow all Singaporian exports to enter Taiwan tariff-free.
The Singaporian side is eliminating all tariffs from Taiwan immediately.
The agreement comes after some 2-years of negotiation.
Singapore is Taiwan's fifth largest trading partner.
Taiwan is Singapore's eighth largest.
 
 
Deutsche Bank announces sub-branch in Shanghai FTZ
 
Deutsche Bank has announced it's setting up a sub-branch in the Shanghai Free Trade Zone.
The bank says its branch in the FTZ will cater to the needs of corporate and financial clients in the area.
Deutsche Bank says the branch will offer a wide range of corporate banking services, with a focus on cross-border transactions.
The German bank has already received approvals from the Chinese authorities.
The Shanghai FTZ is a testing ground for economic reforms, with Chinese authorities promising a "full-scale opening" of the financial services sector to private capital and foreign financial institutions.
 
 
Headline News
 
 
Chinese premier outlines major economic policies ahead of key party session
 
Chinese Premier Li Keqiang has outlined the central government's major economic policies ahead of a key party meeting this weekend
Li Keqiang has made the policy statement following a meeting with several senior provincial governors.
The Chinese premier is emphasizing the need to manage the economy "within a reasonable range", saying any massive disruptions could derail the economy and make it "very difficult" to recover.
He laid out several major policy directions being promoted by his administration, including streamling the government, delegating powers to local authorities, urban renovation, stabilizing consumer prices and job creation.
The four-day plenary session this weekend is expected to include discussions on a host of major new policies.
 
 
Chinese Premier voices hope to advance BIT negotiation
 
Meantime, Chinese Premier Li Keqiang says he hopes China and the United States can advance negotiations on a bilateral investment treaty.
He says the two sides need to convert their complementary advantages into cooperation.
The Premier has made the comments while meeting with former U.S. Treasury Secretary Henry Paulson here in Beijing.
 
 
P5+1 talks started in Geneva over Iran nuclear issues
 
A new round of nuclear talks among Iran and the P5+1 grouping is underway in Geneva.
Ahead of the session, Iranian Foreign Minister Mohammad Zarif has expressed guarded optimism about the possiblity of reaching a tenative agreement this week.
Representatives of the 5-permanent members of the UN Security Council, plus Germany, are also sounding optimistic.
The White House says world powers may consider offering limited sanction relief if Iran takes concrete steps to halt its nuclear activities.
At the same time, the Chinese government has issued a new statement, calling for flexibility and pragmatism in this latest round of negotiations.
 
 
Egypt likely to abolish upper house
 
The group working on a new Egyptian constitution has voted to do away with the country's upper house of Parliament.
The so-called Shura Council has acted as a political advisory organization for the parliament.
The courts in Egypt declared the Shura Council unconstitutional earlier this year.
The Shura Council was established in 1980, and was made up of nearly 300 elected and appointed representatives from different walks of life in Egypt.
The final disolution of Egypt's Shura Council will take place when the new Egyptian constitution is ratified.
 
 
Greek opposition tables no confidence motion in gov't over raid at former broadcaster
 
Greece's main opposition has tabled a no confidence motion against the government.
The radical-left SYRIZA party has called for the vote over a police raid earlier in the day at the headquarters of former state television and radio broadcaster ERT.
Greek police have removed protesters from the ERT's premises, which had been occupied since June.
The conservative coalition of Greek Prime Minister Antonis Samaras holds a slim majority in the parliament.
As such, should his government MP's stand against the no-confidence motion, Samaras' government should survive the vote.
 
 
Newspaper Picks
 
 
SHANGHAI DAILY
Headline
Panda breeding hits record
Summary
A total of 49 panda cubs have been born in China this year, with 42 surviving, marking a record for giant panda breeding in the country.
The number of captive-bred pandas in China this year has doubled from last year.
CHINA DAILY
Headline
More disabled barrier-free facilities
Summary
A new series of laws to help people with disabilities are set to go into effect next year.
China's top legislature will update three regulations next year in an effort to create a more inclusive society.
The government will begin inspections of existing barrier-free facilities around the country.
GLOBAL TIMES
Headline
Coal-to-gas project to come online
Summary
China's first coal-to-gas project will soon start pumping gas to Beijing to help meet the winter heating demand.
The project is coming online after a one-year delay due to an unfinished pipeline.
The Chinese government is spending 14-billion US dollars on projects to turn coal in remote regions into natural gas.
XINHUA
Headline
Sougou and 360 battle
Summary
The war between Chinese web browser Sogou and anti-virus software creater Qihoo 360 has escalated to a new level.
Sogou has released a statement, accusing Qihoo 360 of fabricating evidence to hurt its reputation.
Sogou and the browser developed by Qihoo 360 have been engaged in head-to-head competition in the Internet browser arena.
BEIJING NEWS
Headline
Beijing heating trial
Summary
Public heating here in Beijing has been switched on for a trial run.
The city's public heating will be officially available in all homes as of November 15th.
The temperature is going to be set at 18°C.
YANZHAO METROPOLITAN DAILY
Headline
Stolen newborn returned
Summary
Police have recovered a baby allegedly stolen from a hospital in Hubei.
The child was allegedly snatched from a hospital in the city of Tongcheng a day after the boy was born.
A 35-year old female suspect been arrested.
BEIJING MORNING POST
Headline
More cash for Beijing's elderly care
Summary
Authorities here in Beijing are vowing to increase their investment in nursing homes to take care of more elderly people in the city.
Municipal officials have unveiled plans to establish more than 120-thousand nursing home beds by 2015.
The local government is also looking at ways to attract more private capital into the nursing home sector.
 
 
Special Reports
 
 
Cultural and Creative Industries Propels Chinese Economy
 
Anchor:
Senior officials and industry insiders are suggesting a recent surge in spending in this country's cultural and creative sectors is helping bolster the overall economy.
The suggestion is being made at the ongoing Beijing International Cultural and Creative Industry Expo.
CRI's Shen Ting has more.
Reporter:
Yu Changxiang is an official with the State General Administration of Press, Publication, Radio, Film and Television.
He points out the cultural and creative industries in China have made huge economic contributions recently.
"The print and media trade, and radio, film and television industry has been witnessing a prosperous development and earning a business revenue exceeding two trillion yuan in 2012. Meanwhile, from the global perspective, all other nations are working hard to develop their cultural and creative industries and also seeking bilateral cooperation."
China is trying to increase its contribution to the culture sector of the national economy.
According to the Ministry of Culture, the output of the industry strives to account for 5 percent of China's gross domestic product in 2016.
To reach this target, both the central and local governments have mapped out their goals of cultural development in the coming years.
Hou Yulan, deputy secretary-general of the expo's organizing committee, is also an official with the Beijing municipal government.
She has announced Beijing's target in local cultural and creative industries' development.
"Under our planning, the added value of Beijing's cultural and creative industries would double by 2015, striving to take up 15 percent of the city's GDP. We aim to build cultural and creative industries into a strategic backbone for the local economy."
Anita Huss-Ekerhult is Deputy Secretary General of the International Federation of Reproduction Rights Organizations,
She says copyright protection is crucial in the development of cultural and creative industries.
"A well-functioning copyrights system plays a central role in sustaining the creative industries. The creative industries, in turn, are vital in sustaining national culture and cultural identity. The world intellectual property organization made a summary of its studies concluding that in highly-developed economies: the contribution of copyright industries to both GDP and employment is high: 10-percent GDP and 8-percent employment in the case of Australia."
In addition, professionals in cultural companies say China should learn from other nations.
For CRI, I'm Shen Ting.
 
 
Sports
 
 
Roger Federer defeats Richard Gasquet at ATP World Tour Finals
 
In tennis,
Roger Federer defeated Frenchman Richard Gasquet yesterday 6-4. 6-3.
The six-time ATP World Tours champion was coming off an opening round loss to Novak Djokovic. That was the first time the Swiss player had lost an opening match at the ATP World Tour finals since 2009.
The Swiss player got off to a shaky start, losing the first six points. But he seemed to steadily recover, and wrapped up the second set in commanding fashion.
The win over Gasquet keeps Federer's hopes for a seventh title alive. And will next face Juan Martin del Potro in the final group B match.
 
 
2014 Sochi Olympic torch is in outter space
 
The 2014 Sochi Winter Olympic torch made a historical journey into outer space yesterday when it was carried to the international space station.
"On board the International Space Station crew has also reported they have the Soyuz in sight, the view you're seeing now. The onboard crew likewise monitoring all the docking activities and ready to take manual control if necessary, but everything going very smoothly at this time."
It wasn't the first time an Olympic torch traveled to outer space. The 1996 Atlanta torch was carried aboard the shuttle Atlantis.
But this was the first time a torch has been taken outside the spacecraft for a spacewalk.
The torch will remain in space for five days, before resuming its relay toward Sochi back on earth.
 
 
McCoy claims 4000th win
 
In horseracing,
British jumps jockey Tony AP McCoy achieved his 4000th career win yesterday.
Since his first win in March 1992, the Northern Irishman has won more times than any other National Hunt jockey in history.
It's amazing. It couldn't have worked out any better. Obviously for Jonjo (trainer Jonjo O'Neill) and obviously for JP and Noreen (owner JP McManus and his wife Noreen) and the McManuses have been so good to me..."
AP's amount of victories has inspired many, including Arsenal coach Arsene Wenger, winger Alex Oxlade-Chamberlain,and forward Lukas Podolski who sent the jockey a special congratulations.
"Hi, I'm Arsene Wenger. I would like to congratulate AP McCoy on his fantastic achievement// "AP rode his first winner in 1992, a year before I was even born and it is incredible to think that he's been riding winners ever since. To reach 4,000 winners is an amazing achievement and to be at the top of his game for so long is a real inspiration// "To stay at the top of your game for that long shows a will to win that you only find in a true champion. Most importantly of all he is a true Gunner, and I'd like to congratulate him."
McCoy passed 4000 win milestone riding 6-4 favourite Mountain Tunes at the central England circuit of Towcester.
 
 
Liverpool manager Brendan Rodgers looks ahead to EPL match with Fulham
 
In football,
Liverpool coach Brendan Rodgers said he expected visiting club Fulham to challenge his team despite their struggles in the English Premier League.
"They had a few years ago they got to the final of a European competition which is always difficult to equal that - but I think he (Jol) has done an excellent job. Obviously he will be limited in terms of his budget, what he has, but he has brought in some very, very good players and they had a great win the other week at Crystal Palace and, as I said, they will be looking to come to us and put on a strong performance away from home which they've been at times."　
Rodgers also commented on Luis Suarez. Earlier this summer, the star striker was looking into transfer opportunities.
But Rodgers says Suarez has settled into the club, and gained a more mature understanding of how he can contribute to the team's success.
 
 
Sepp Blatter asks Iran to change law preventing women from watching football
 
FIFA president Sepp Blatter is asking Iranian officials to allow women into stadiums to watch football matches.
Blatter made the comment while visiting Tehran earlier this week to speak at the second International Science and Football Congress.
"In the government, they (Iranian officials) should try to change one of the cultural laws here (so) that women can attend football matches."
In Iran, women are allowed to watch other sports like volleyball and basketball, but aren't allowed to view football competitions.
 
 
NBA game preview
 
In the NBA
The Miami Heat will take on the LA Clippers this morning. The Clippers currently lead the league in scoring with an average 113.2 per game. They are also coming off a 98-90 loss to Orlando on Wednesday.
Meanwhile the heat have a budding winning streak, after winning their second straight game when they played at Toronto.
Lebron James is looking strong these days. He scored 35 points against the Raptors, to become the fifth player in NBA history to score double digits in 500 straight games. With those stats he joins Kareem Abdul-Jabbar, Michael Jordn, Karl Malone, and Moses Malone.
Also later this morning, Atlanta Hawks will face Denver Nuggets. And the Clippers cross-town rivals the LA Lakers will take on the Houston Rockets.
 
 
Storm messes first round up at Turkish Open
 
In golf,
A big storm challenged golfers as they attempted to get through their opening rounds at the Turkish Open yesterday.
Darren Fichardt, Steve Webster, and Paul Casey are technically the leading trio with scores of seven-under each.
Casey and Fichardt made it to the 14th hole before play was suspended for poor lighting.
But Steve Webster only needed his 12 holes to reach seven under.
Race to Dubai leader Henrik Stenson is three shots off the leaders, and Tiger Woods ended with a one-under after struggling on the 10 holes he did manage to complete.
Golfers who weren't able to complete their first rounds yesterday will do so today, before round 2 gets underway.
Over in the PGA,
Briny Baird leads with seven under at the McGladrey classic, while tournament favorite Webb Simpson is tied for third at five under after day one.
And in the LPGA,
Stacy Lewis will be looking to defend her title when the Mizuno Classic gets underway in Japan today.
 
 
Entertainment
 
 
Chinese film "The White Storm" to close Rome Film Festival
 
The 8th Rome Film Festival will be opening later today.
This year's event will see the program dominated by American and Italian films.
However, the festival will close with Chinese action film "The White Storm.", starring Louis Koo, Sean Lau and Nick Cheung.
Festival director Marco Muller says he is especially excited by what he sees as an atypical, groundbreaking project.
"'The White Storm' is definitely the ultimate action movie, in the sense that it really provides new paths. It really explores new ground for action thrillers.　In China it is the very first film where you have policemen, or even better to say agents, on an international mission. But, more than everything, it is visually a very outstanding film served by a trio of really amazing actors,"
Muller said that they aimed to curate a suitably varied program to cater to a diverse audience.
"Well hopefully we can provide the different groups of viewers from Rome, from Italy, from Europe, with a very contradictory program, in the sense that the philosophy of a metropolitan event, a festival-festa, has to be a philosophy in movement. So we brought together opposite elements, industry and culture, entertainment and the quest for new forms. Hopefully there will be films for everybody,"
The event will see 12 world premieres from the 18 films that have been selected to compete.
Scarlett Johansson, Joaquin Phoenix and Rooney Mara will be lighting up the red carpet to present Spike Jonze's latest film "Her".
The film tells the story of a man who falls for the female voice on his computer operating system.
Also in competition is "Dallas Buyers Club," by director Jean-Marc Vallee, starring Matthew McConaughey, Jennifer Garner and Jared Leto. It tells the story of a man who is HIV-positive fights the US medical and pharmaceutical establishment.
On the Italian side we have "The Last Wagon Wheel" by director Giovanni Veronesi, which will open the festival.
There will be a healthy dose of blockbusters too, with Jennifer Lawrence hitting town to present "The Hunger Games: Catching Fire," on the 14th.
There will also be 16 films participating out of competition with a total of 30 countries taking part in the festival.　
This year's jury will be headed by American director and screenwriter James Gray and the festival will run from November 8 to 17.
 
 
Patrick Wolf premieres new video for the Libertine
 
(Wolf)
British singer-songwriter Patrick Wolf has revealed the music video to "The Libertine".
The footage shows a wolf wearing a crown of thorns whilst sitting on a throne and is accompanied by a rather political poem Wolf wrote during his artists' residency in San Francisco.
The video is in support of his latest project Sundark and Riverlight, which brings together re-workings of the multi=instrumentalist's favourite tracks from his decade long career.
The 30 year old also unveiled a nine date tour of Europe, set to kick of in Spain on the 19th November and concluding at London's Union Chapel on 21st December.
 
 
Battersea Dogs home hold Star Studded Fundraising Gala
 
Finally news of a fluffy nature to leave you with this Friday.
London's Battersea Dog's and Cat's Home has just held its premier fundraising event, the Collars and Coats Gala Ball.
This year's theme was "Hollywoof" and talented dogs showed off their spectacular skills to a delighted crowd.
The event was attended by supermodel and Battersea ambassador David Gandy, fashion designer Julian McDonald and Amanda Holden amongst others.
This year, a special ebay auction is running for three days where bidders have the chance to win a walk in the park with a rescue dog and a Battersea ambassador, including Gandy, Holden and screen legend Jeremy Irons.
Battersea Dog's and Cat's Home spends 18 million pounds a year on helping give thousands of abandoned animals a second chance in life.
 
 
 
That's all we have time for on the show as well.
Recapping our top headlines....
Chinese Premier Li Keqiang has met with a group of provincial governors ahead of this weekend's highly-anticipated CPC plenary session.
Senior officials from China, Japan and South Korea have met for the first time in months amid the frosty political tensions in the region.
Swiss researchers looking into the death of former Palestinian leader Yasser Arafat say they believe his demise in 2004 was not accidental.
In Business.... Twitter wraps up its first day of trading in New York with a somewhat mixed result.
On behalf of the Beijing Hour staffers, this is Paul James in Beijing, hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together!