The Beijing Hour
Evening Edition
Shane Bigham with you this Thursday, July 10th, 2014.
Welcome to the Beijing Hour, coming to you live from the Chinese capital.
Coming up on the programme this evening...
A high-level China/US dialogue has wrapped up in Beijing with agreements signed and promises to move forward on a new investment treaty...
A new report details how China is helping to reduce poverty and improve lives in developing countries...
And 29 of 31 provinces on the Chinese mainland have now relaxed rules regarding the one child policy...
In business, The US has announced an end-date for its stimulus program...
In sports, analyzing the upcoming World Cup final..
In entertainment, radio, film, and TV in China generated 60-billion dollars in business last year...
Weather
Beijing will be clear tonight with a low of 24 degrees Celsius. It will be sunny tomorrow with a high of 34 degrees.
Meanwhile Shanghai will be cloudy tonight, with a low of 26, tomorrow cloudy, with a high of 34.
Chongqing will see some rain tonight, 25 degrees the low, tomorrow rainy with a high of 27.
Elsewhere in the world, staying in Asia
Islamabad, cloudy with a high of 39.
Kabul, sunny, 32.
Over in Australia
Sydney, sunny, high of 16.
Canberra, slight rain,8.
Brisbane, sunny, 18.
And finally, Perth will have slight rain with a high of 15.
Top News
China-U.S Annual Dialogue Comes to an End
Anchor:
The annual China-U.S strategic and economic dialogue has come to an end.
Rounding up this year's discussions, representatives from the two countries briefed the progress that's been made over the past two days.
CRI's Luo Wen has more details.
----
Reporter:
On the economic track, the two countries have made over 90 achievements. Both sides agreed to continue exchanges and cooperation in macro-economic policies and finance.
It has also been agreed that the two countries will start negotiations on a negative list next year, as they work toward a bilateral investment treaty.
Chinese vice Premier Wang Yang
"The two sides agreed to reach consensus on the key issues and main clauses of the BIT in 2014 and promised to start negative list BIT negotiations in early 2015. The United States welcomes Chinese companies' investments and promised to provide an open investment environment to Chinese investors."
Investment treaty talks began in 2008. The deal is expected to deepen Sino-U.S. economic ties, with two-way trade already exceeding 520 billion U.S. dollars.
Vice Premier Wang Yang also said that the two sides carried out exchanges on the Sino-US Joint Commission on Commerce and Trade, intellectual property protection, and extending the Information Technology Agreement.
In terms of cyber security, Secretary of State John Kerry said the two sides engaged in frank discussions.
"Incidents of cyber theft have harmed our businesses and threatened our nation's competitiveness, and we have a frank exchange on cyber issues at our strategic security dialogue. And we both agree it is important to continue discussions in this area."
State Councilor Yang Jiechi added that the two countries will continue cooperation on an extensive range of issues concerning the security of both countries.
"Both sides have agreed to cooperate in areas including counter-terrorism, climate change, nuclear security, environmental protection and so on."
The strategic and economic dialogue, which was established in 2009, has offered a platform for both countries to address bilateral, regional and global challenges and opportunities.
For CRI, I'm Luo Wen.
Bilteral investment treaty tops S&ED agenda
Anchor:
For more on the talks of the bilateral investment treaty, CRI's Min Rui has more.
Reporter:
Chen Fengying is a researcher from China Institutions of Contemporary International Relations.
She explains the sticking points for the talks so far.
"For the U.S., they wish to see the negative list as short as possible. But sectors involving national economy, national security and traditional industries are still on the list. The U.S. is also concerning about the protection of intellectual property rights and policy on state-owned enterprise. As for China, the biggest concern is to protect Chinese investment in the U.S. Now the U.S' national security reviews have restricted Chinese investment. Therefore, China wants the US to allow Chinese companies to get in under a pre-establishment national treatment."
The negotiation entered a substantial phase last year after the two countries agreed to talk on the basis of "pre-establishment national treatment" and the creation of a negative list.
Pre-establishment national treatment means the rights of foreign investors and their investments would be protected as if they were native to the country in which business was being conducted.
The Chinese government wants this protection for Chinese companies setting up shop in the US.
Meanwhile, the US has concerns about China's negative list, which outlines sectors barred from US investment.
As negotiations on the treaty first started in 2008, the treaty is expected to make it easier for bilateral investment.
Chen Fengying points out further that it can bring better protection for Chinese companies on American soil.
"It includes an investment protection deal, providing legal protection to companies that want to invest in the U.S. Meanwhile, the treaty can offer better protection for our companies' interests. Currently, the problem is that Chinese investment in the U.S needs to go through a national security review. If the U.S. gives us as negative list, specifying which sector is not open for Chinese investment, it could help our companies to cut cost and save time."
Chen also says that for Chinese consumers, the treaty will help to stimulate consumption and reduce labor costs, which may bring down the prices of imported goods from the U.S.
During the talks, U.S Secretary of Treasury Jacob Lew has already expressed optimism in delivering results.
"President Obama and President Xi have been clear that a strong U.S and China economic relationship is a top priority. We've worked hard to establish a relationship based on frank communication and exchange. This has allowed us to deliver tangible benefits to our people, manage frictions and work together to address global challenges."
China and the U.S. will start a new round of talks on the Bilateral Investment Treaty in Washington starting from the 28th.
The two-way trade between the two countries has exceeded 520 billion U.S. dollars.
The U.S. has bilateral investment treaties with 41 countries.
But an agreement with China would be the largest such treaty by far.
For CRI, I'm Min Rui.
Design Exhibition to Mark the 30th Anniversary of Beijing-Washington Sister City Relationships
Anchor:
Coinciding with the fifth round of Sino-US Consultation on People-to-People Exchange in Beijing, cultural events are underway in the US capital as well.
A week-long exhibition featuring artists and designers from the two countries has opened to public in Washington DC.
CRI's Liu Yan has more
Reporter:
The week-long event is in celebration of the 30th anniversary of the "sister city" relationship between Beijing and Washinton.
Mary Kane, CEO of Sister Cities International, says there are actually over 200 sister cities relationships between the US and China.
"It is the one way to build people-to-people relationships. And what happens is you not only built peace, understanding, mutual respect and cooperation, but you also start to develop business."
The exhibition features about 80 contemporary works by DC- and Beijing-based designers, including furniture, fashion, graphic design, and even digital products.
Some designs have previously been nominated or won awards at international contests including Habitare Helsinki and Red Dot Design Award.
Unlike many other exhibitions, this one features practical works that can be put to everyday use. One of the goals of the exhibition is to sell everything.
"I'm really impressed with the combination of natural materials and the modern feel about these things. Really it combines practicality with elegance. And I can see myself owning these pieces, owning them in my own home."
"From this exhibition I really like, downstairs, there are lamps looks like flowers. These are amazing. What I like about you know art and design for clothes, or for your apartment is that it looks really good and will still be practical."
An auction is being held in conjunction with the exhibition.
Li Hong, Chief of the Office of Cultural Affairs with the Chinese embassy in DC, says the exhibition is a good example of people-to-people exchange between the two countries.
She is expecting more events like this to be held in the future.
"This year marks the 35th anniversary of diplomatic ties between our two countries as well as the 30th anniversary of Beijing-Washington DC Sister City Relationships. Although 30 years is not a short time, in terms of mutual understanding between our two countries, our two peoples, I think we still need to work hard. So I hope there will be more exchange like this."
The exhibition started on July 7th.
It will later travel back to Beijing with new exhibits on display.
For CRI, I'm Liu Yan.?
China's foreign aid helps improve livelihood in recipient countries
Anchor:
An official document shows China has provided some 90 billion yuan assistance to mostly Africa and Asian countries between the year of 2010 to 2012.
Released today, a whitepaper on China's foreign aid also details on how these programs have helped other developing countries reduce poverty and improve people's livelihoods without any political pre-conditions.
CRI's Cao Yuwei has more.
Reporter:
China's assistance to other countries has covered areas such as agriculture, education, medical services and general humanitarian assistance.
According to the white paper, China adheres to the principles of not imposing any political conditions and not interfering in the internal affairs of the recipient countries when providing foreign assistance.
Ronald Mutie is a journalist based in Nairobi, Kenya.
Mutie said China's assistance efforts are very much welcomed in Africa, despite some criticism from some western countries.
"Today, China enjoys a very big support and a very strong reputation in Africa due to its policy of non-interference. As you may be aware, China itself started practicing the non-interference policy in 1954. Ever since, for over 6 decades, it has never gone wrong with that policy. Therefore western countries who are friends of Africa should respect China and its policies and ways of engaging with other countries all over the world."
From 2010 to 2012, China provided more than 14-billion US dollars’ worth of foreign aid to 121 countries. Over half that aide went to Africa.
Some 28-percent of the total assistance during those three years went to social and public welfare infrastructure, a significant raise from the 3.2-percent as of the end of 2009.
Wang Luo is Head of the International Institute for Development and Cooperation under the Ministry of Commerce.
She said China has strengthened efforts to improve the livelihood of peoples in recipient countries.
"From the changes after those three years, we can see that China is actively responding to the United Nations Millennium Development Goals, which are calling for us to improve people's livelihood in less developed countries. In order to keep up with the international trend, we are gradually increasing inputs on these areas."
Wang also mentioned that enhancing the capability of independent development is an essential part of the aid.
In Africa, Mutie has witnessed some of the programs.
"In Uganda, in Chincha, that is eastern Uganda, some Chinese experts have been sent there to teach the Ugandan people who have been living by Lake Victoria how to do caged fish farming. Caged fish farming is a technology that is widely used in China, but in African countries, it is just a new technology."
Mutie says fishing productivity in Africa has improved with the use of Chinese technology, thus improving the lives of the local people.
For CRI, I'm Cao Yuwei.
Most Chinese Provincial Areas Relax One-Child Policy
Twenty-nine of the 31 provinces on the Chinese mainland have now relaxed the decades-old one-child policy.
Yang Wenzhuang is an official from the National Health and Family Planning Commission.
"So far, except Xinjiang and Tibet, twenty-nine provincial regions in the Chinese mainland have implemented the revised one-child policy. As of the end of May this year, about 270,000 couples have applied to have a second child. 240,000 of them got approved."
According to the official, around 6 million eligible couples in China have shown willingness to have a second child.
Yang says that means an additional two million babies a year.
But he also rules out the possibility of a new baby boom.
Zhai Zhenwu, a professor from Renmin University, agrees.
"The basic situation in China has not changed, and to control the overall population number will still be a priority. I think it is not a mature time to allow every couple to have a second child now. But with the social and economic development, together with the adjustment of the policy, it can be an option in the future. But for the time being, to fully relax the family planning policy will not be beneficiary to the balanced development in the long run."
China's one-child policy, first put in place in the late 1970s, is designed to curb population growth.
China calls on Iraq to build inclusive govt
A senior Chinese official visiting Iraq has been calling on the establishment of an inclusive government in the country.
Wu Sike, China's Special Envoy to the Middle East, made the remark while meeting with Iraqi Prime Minister Nouri al-Maliki in Baghdad.
China's Foreign Ministry Spokesperson Hong Lei reveals more details about their conversation today.
"During the meeting, Wu Sike said China is paying utmost attention to the current situation in Iraq. China firmly supports Iraq in protecting its national sovereignty and its crack-down on terrorism. We hope all parties in Iraq can promote unity and form an inclusive government as soon as possible. We also call on the international community to provide more support to the country. China will continue to provide political and humanitarian aid to Iraq, and we hope Iraq can provide better protection to Chinese companies and nationals in the country."
Wu is also calling on the Iraqi government to protect the safety of Chinese nationals.
China has evacuated some 1 thousand workers from Iraq last month given the fighting in northern Iraqi provinces.
Wu Sike is scheduled to visit Turkey and Iran for further talks on the situation in Iraq.
In the latest development, the Iraqi government says Sunni militants have seized nuclear materials used for scientific research at a university in the city of Mosul.
The authorities have appealed for international help to stop the use of the materials in Iraq.
The UN atomic agency has played down the threat, saying the material is low grade and does not pose a big security risk.
Ban Ki-moon requests urgent meeting on Gaza airstrike
UN Secretary General Ban Ki-moon has requested an urgent meeting of the Security Council to address the situation in Gaza.
Ban's request comes after Israel escalated its aerial assault in the Gaza Strip.
"I am alarmed by the new wave of violence that has engulfed Gaza, southern Israel and the West Bank, including East Jerusalem. This is one of the most critical tests the region has faced in recent years. Gaza is on a knife edge. The deteriorating situation is leading to a downward spiral which could quickly get beyond anyone's control."
The UN Secretary General has urged the Israeli government to exercise maximum restraint while condemning the rocket attacks launched from Gaza on Israel.
Earlier, the Chinese government expressed deep concern about the situation and called for an immediate ceasefire.
The Israeli military says its warplanes struck over 300 Hamas targets overnight, and about 750 targets since the operation began earlier this week.
At least 75 Palestinian have been killed in the air strikes.
The Health Ministry in Gaza says 20 civilians are among the dead.
Biz Reports
Asian stock markets closed mixed today after data showed that China's exports rose less than expected in June.
On the Chinese mainland, the benchmark Shanghai Composite Index closed almost unchanged.
The Shenzhen Component Index lost 0.5 percent.
Hong Kong's benchmark Hang Seng went up 0.3 percent.
In Japan, Tokyo shares ended lower due to weaker-than-expected machinery orders data for May, as well as a stronger yen.
The Nikkei-225 dropped 0.6 percent.
South Korea's KOSPI edged up 0.1 percent.
Singapore's Straits Times close 0.2 percent lower.
Lastly, Australia's S&P/ASX 200 climbed 0.2 percent.
U.S. Fed plans to end asset purchases in October
The US central bank has decided to end its asset purchase program in October if the U.S. economy stays on track.
This is the first time the Federal Reserve has clarified the exact end date of its open-ended asset purchase program, also known as QE3.
The bond purchasing program was launched in September 2012 to push down long-term interest rates and stimulate the U.S. economy.
The Fed has been trimming its asset purchase program by 10 billion U.S. dollars every policy meeting this year as the economy gradually picks up.
The central bank is currently buying 35 billion U.S. dollars of U.S. Treasuries and mortgage-backed securities a month.
Analysts say the end of asset purchases will have no bearing on the timing of the first interest rate hike.
The Fed has said it is appropriate to keep its benchmark short-term interest rates near zero "for a considerable time" after the asset purchase program ends.
China's exports up 7.2 pct in June
Official figures show China's exports in June increased 7.2 percent year on year, as the country's foreign trade continued its positive trend.
The General Administration of Customs says China's trade surplus for June exceeded 31 billion U.S. dollars.
The combined foreign trade volume in the first half of 2014 saw year-on-year growth of 1.2 percent.
Exports increased 0.9 percent and imports went up 1.5 percent during the period.
Zheng Yuesheng, a spokesman for the General Administration of Customs, says China's foreign trade has been stabilizing.
"The world's economic situation is still complicated this year. China's domestic economy has enjoyed stable development and foreign trade shows signs of moderate recovery."
China set a trade growth target of 7.5 percent this year, lower than the 8-percent goal for 2013 and last year's actual expansion of 7.6 percent.
For more on China's macro-economic situation, I spoke earlier with Zhuang Jian, Senior Economist at the Asian Development Bank's Resident Mission in China.
Back anchor:
Zhuang Jian, Senior Economist at the Asian Development Bank's Resident Mission in China.
Japan's machinery order down record 19.5 pct in May
New stats show Japan's core private-sector machinery orders declined by a record 19.5 percent in May due to the impact of a sales tax hike.
The value of the orders dropped to around 6.7 billion U.S. dollars, the smallest since January 2013.
Overseas demand for Japanese machinery largely tumbled 45.9 percent in May, following a 71 percent surge in April.
The Japanese government says the sales tax hike starting from April 1 has made domestic companies refrain from investment.
It also says the decline in May has prompted the government to hold a negative outlook on growth pertaining to the country's machinery orders.
S.Korea freezes interest rates amid expectations for rate cut
South Korea's central bank has frozen interest rates despite growing expectations for rate cuts caused by a gloomy economic outlook.
The Bank of Korea has decided to freeze the benchmark seven-day repurchase rate at 2.5 percent, refraining from altering the rate for the 14th month in a row.
The rate freeze is roughly in line with a market consensus, but expectations spread that the central bank would cut the policy rate as early as August amid the pessimistic growth outlook.
The central bank has downgraded its 2014 growth outlook to 3.8 percent from an earlier forecast of 4 percent.
The 2015 figure was revised down to 4 percent from 4.2 percent estimated three months earlier.
India's new gov't presents budget aimed at 7-8 pct growth
India's new government has presented its first national budget which is aimed at achieving a 7 to 8 percent growth rate in the next three to four years.
The government headed by Prime Minister Narendra Modi also aims to establish an employee's pension system, and provide electricity to all rural areas during Modi's curent term, which ends in 2019.
Headline News
China US wraps up S&E Dialogue
China and the US have agreed to accelerate the negotiation on a Bilateral Investment Treaty.
Talks on the negative list, a key point of the treaty, is set to begin from the start of next year.
This is a list of corporations and sectors excluded from the treaty.
The consensus was reached as the two countries wrapped up their Strategic and Economic Dialogue here in Beijing.
China's Vice Premier Wang Yang says some 90 other cooperation deals have also been signed during the two-day event.
Regional and cyber space securities as well as military cooperation have topped the agenda.
The US Secretary of State John Kerry has hailed this year's talk as "honest and constructive."
China issues white paper on foreign aid
The Chinese government has issued a new white paper on its foreign aid programs.
The new document talks about how China helps other developing countries reduce poverty and improve the livelihoods of people in foreign countries without any political pre-conditions.
The white paper says that from 2010 to 2012, China provided more than 14-billion US dollars’ worth of foreign aid to 121 countries.
Over half that aide went to Africa.
The assistance has covered areas such as agriculture, education, medical services and general humanitarian assistance.
Most Chinese Provincial Areas Relax One-Child Policy
Twenty-nine of the 31 provinces on the Chinese mainland have now relaxed the decades-old one-child policy.
This follows the decision by the country's top legislature in December to allow couples to have a second child if one of the parent's was an only child.
Previously, both parents had to be from one-child families before they could be approved for a second baby.
The newly-adjusted policy doesn't cover Xinjiang and Tibet yet.
Authorities say more than 270-thousand couples have applied to have a second child, as of the end of May.
China's population is well over 1.3 billion.
The one-child policy was first enacted in the 1970s to control population growth.
Five missing after SW China boat capsizal
Five people are missing after a boat capsized on the Yangtze River in southwestern China.
It happened in Chongqing Municipality on Thursday morning.
There were seven crewmembers on the boat. Two of them were rescued.
The boat was transporting sand. It belongs to a transportation company based in Banan District.
Authorities are still trying to determine what caused the accident, as the searching for the missing workers continues.
Chinese national kidnapped in Sabah, Malaysia released: embassy official
The Chinese national who was kidnapped in Malaysia's eastern state of Sabah in May 6 has been released.
The Chinese Embassy in Malaysia says the kidnapped person was freed by Philippine abductors and safely returned to Malaysia.
The Chinese abductee was from China's Guizhou province and was working for a Malaysian fishing company before being kidnapped.
Newspaper Picks
Xinhua
China's college teachers struggling for higher income
Teachers at Chinese colleges and universities are struggling to make ends meet, according to a nation-wide survey.
The survey said about half of Chinese college and university teachers earn less than 100-thousand yuan a year, and only 14 percent earn more than 150-thousand yuan.
Less than a third of those surveyed saying they could keep their bank accounts in the black.
A separate survey showed that seventy-two percent of the teachers said they were "under pressure".
There are 1.5 million teachers working at some 2,450 colleges and universities in China. About 70 percent of them are under 40 years old.
It is reported that poor salary and financial pressure have made them less devoted to their job, prompting many to take part-time work elsewhere.
--
China News Service
Higher degree graduates face battle in job market
Graduates with higher degrees in China are feeling the pinch in the job market as competitors with lower education levels rise on par and catch up as magnets for employers.
Latest statistics shows that by the end of June 2014, vocational school graduates reported the highest employment rate in east China's Jiangxi Province, standing at 82.7 percent.
Bachelor's, master's and Ph.D. graduates in the province had employment rates of 80.25 percent, 69.48 percent and 73.5 percent respectively.
Many Chinese students invariably think that a higher degree guarantees better job chances.
However those with lower education levels have been bucking the trend in recent years by showing better employment rates in the job market.
--
Sky News Australia
Doctors compare medical conditions to food
An expert has claimed that snatched meals between operations and procedures may explain doctors' stomach-churning habit of comparing tumors, infections and skin outbreaks to food.
Culinary terms are frequently used in the medical literature, such as 'anchovy sauce' to describe pus from a liver abscess, 'cottage cheese' thrush infection, 'oat cell' lung cancer and 'sago spleen'.
A complete dish is also used to identify the skin condition tinea versicolour, characterized by its 'spaghetti and meatball' appearance.
Experts believe that references related to food have re-informed and stimulated generations of physicians to identify and understand disease.
One possible reason for the food preoccupation might be physicians' habits of catching up on their meals between operations and procedures.
Another reason could be doctors' 'strong' stomachs to think of food while facing those sometimes 'disgusting' smells or sights of human affliction.
--
The Guardian
'Dead end' apprenticeships are failing to help young people find lasting work
A new report has found that apprenticeships are failing to help young people find work and improve their skills.
According to experts, most of the apprenticeships are "low skilled" and "dead end", useless for boosting young people's economic prospects, even though the number of advanced-level apprentices has increased.
One of the major problems is that too many people are taking an apprenticeship at intermediate level.
The report also criticizes the fact that many apprentices are adults, arguing that it contradicts the government's claim that the scheme is focused on helping young people find work.
In 2012-2013, 40 percent of apprentices in England were over 25.
It is said the government is focused on improving the quality of the scheme and has stripped out nearly 200-thousand apprenticeships that don't meet "tough new standards".
Special Reports
Commercial Football Games in Beijing
Anchor:
With World Cup fever gripping the world, we take a look back at some of the football highlights which have taken place in this country.
Here's CRI's Chi Huiguang.
Reporter:
In 1994, Chinese football League A began in Chengdu Sports Center in China's southwestern Sichuan province. It symbolized the initiation of Chinese football. In the same year, Beijing gained football fans' attention through the first commercial game in China's football history.
In August, Beijing's Workers' Stadium welcomed a game between Sampdoria, then champion of Italy Cup, and the Chinese national team. To many's surprise, China won the game.
In the same summer, European Champion AC Milan came to the same stadium and was defeated by Beijing Guoan.
Gao Feng is a former player of Beijing Guoan.
"It was like a legend at that time. Sometimes we thought we had to win, whether it was AC Milan or Arsenal. We dare not say that we stood from a high position. Actually, we put ourselves in a low position. But we felt that we were going to fight with you. Indeed, competitions with foreign teams in those years had injected a cordial??? to the Beijing football market."
However, the unbeaten legend did not last long. In 1996, the England National Football Team beat the Chinese National Team. Later, Beijing Guoan lost against Napoli and Boca Juniors.
It was the 2003 Real Madrid China tour that familiarized Chinese fans on the meaning of commercial games. With Beckham, Ronaldo, Zidane and Figo on board, the Galácticos visited China in August. The great exposure of the superstars sparked huge market effects. The revenue for ticket sales exceeded $4.8 million.
However, the obvious commercial ambitions and the fatigue during their long-distance journey dampened the enthusiasm of the renowned stars. Most of these games disappointed the fans.
Zhang Bin, director of CCTV Sports, explained that there are many uncertain factors in the commercial games.
"The major factor is probably the quality of the game itself. A football team is composed of football stars. And who come and how long they play on the field make a difference in the competitiveness, the quality and the value of a football game."
In 2011, the Italian Super Cup came back to the Bird's Nest. What's worth mentioning is that the game was between AC Milan and Inter Milan. It is not only the first time Milan Derby performed in the Italian Cup, but also the first time it took place in Asia.
All the 90,000 seats in Bird's Nest were packed. Fans across the country rushed and surged into the stadium to watch the gala.
It is, of course, the grandest football game ever played in Beijing.
BACK ANCHOR:
That is CRI's Chi Huiguang reporting.
Sports
Paul James Football
Argentina is through to the World Cup final after defeating the Netherlands in a penalty shoot-out this morning.
Meeting them in the final will be Germany, the side that gave a 7-1 thrashing to the hosts Brazil.
To discuss the closing stages of the 2014 World Cup, earlier Beijing Hour's Paul James got on the line with Mark Dryer, the founder of the China Sports Insider website.
That was Paul James speaking earlier to Mark Dryer, the founder of the China Sports Insider website.
Arsenal close to signing deals with Sanchez and Debuchy
In Premiership football
Arsenal are reportedly close to signing Barcelona forward Alexis Sanchez.
Though nothing has been signed yet all sides are said to be agreed with the terms and the Gunners will be paying in the region of 30 million pounds for the Chilean international.
The London-based club is also close to signing French right back Mathieu Debuchy from Newcastle United.
Elsewhere Hugo Lloris has signed a new 5-year-deal with Tottenham Hotspur. The France international goal-keeper has been with Spurs since an 8 million pound move from Lyon in 2012.
Chris Froome Crashes out of Tour de France at stage 5
In the Tour de France the defending champion Chris Froome is out of the cycling road race.
The British Team Sky lead rider was already nursing a damaged wrist after a fall on stage four, and then the 29-year-old went on to crash twice more early in stage five at which point enough was enough and he withdrew from the competition.
He is to fly home for some R&R and to assess what injuries he has sustained.
Marcel Kittel of Giant-Shimano - the winner of three of the opening four stages - also took a tumble in the rain sodden conditions but soon recovered.
Stage five was won by Holland's Lars Boom.
Overall leader Vincenzo Nibali, who also crashed yesterday, managed to recover to finish third.
Stage five was won by Holland's Lars Boom.
Vijay shoots 122 for India on first day of England test match
In Cricket,
India have closed the opening day of their test series with England at 259 for four.
Murali Vijay was the best batsman of the day hitting 122 not out. He said it had been a boyhood dream of his to hit a century against England.
James Anderson, meanwhile, was the pick of the bowlers, taking two for 70.
England complained however about the unhelpful surface at Trent Bridge in Nottingham. They said the 'unresponsive' ground gave little bounce which was not good for the bowlers, batters or spectators.
Giants fan awarded 18 million dollars after Dodgers baseball beating
In Baseball,
A San Francisco Giants fan has been awarded 18 million dollars following his brutal beating at a game against the Los Angeles Dodgers.
The Dodgers were found partially liable after Bryan Stow was left permanently disabled following the attack in 2011.
The father of two was assaulted by two men after a season-opening game against the San Francisco Giants.
The lawsuit alleged that the Dodgers and team owner Frank McCourt, who was the team's owner at the time, were to blame for lax security at Dodger Stadium.
The attackers Louis Sanchez and Marvin Norwood, pleaded guilty to criminal charges in the attack and were sentenced to prison terms of eight and four years, respectively.
Entertainment
Radio, film, TV industries generate US$60 bln in 2013
China's radio, film and TV industries reported revenues totaling over 60 billion dollars in 2013.
The number comes from an annual report issued by the State General Administration of press,Publication,Radio, Film and Television.
The report says most of the revenues came from TV and radio advertising, amounting to 22 billion dollars, up 9.19 percent from the previous year.
Box office revenues hit just over 3 billion dollars last year, with domestic productions grabbing almost two thirds of that.
According to the report, the revenues of the Internet audio-visual industry surged 41.9 percent from the previous year to just over 2 billion US dollars.
Hong Kong star Zhang Yaoyang detained over drug use
Hong Kong movie star Zhang Yaoyang has been arrested over drug use.
Beijing police say they have detained Zhang Yaoyang for using marijuana at a hotel in downtown Beijing.
The actor is well known for his role in the movie 'Gangster' a film that has given him great popularity.
He is the latest big name to be caught taking drugs, after a renowned Chinese screenwriter was detained for the same reason.
According to an informed source, besides drug use, Zhang is also being held on suspicion of paying for sex.
Zhang will be detained for 20 days.
Chinese pop star Wang Leehom declares having baby
Chinese pop star Wang Leehom has released a photo on the Sina Weibo showing that he's become a father.
He says that his wife Lee Jinglei has given birth to a healthy little girl and both mother and daughter are doing well.
Wang married Lee last November and announced Li's pregnancy in May.
Wang says the little girl has come early and thanks his fans for all their best wishes.
North Korea complains to U.N. about film starring Seth Rogen
North Korea has complained to the United Nations about the new Seth Rogen movie "The Interview".
The US comedy, about a TV host and his producer who manage to secure an interview with Kim Jong-un – only to find themselves hired by the CIA to assassinate him, has been condemned by North Korea as 'sponsoring terrorism'.
In a letter, North Korea's UN ambassador, Ja Song Nam told UN secratary Banki Moon, the United States authorities should take immediate and appropriate actions to ban the production and distribution of the aforementioned film.
The letter does not mention the name of the movie but talks about a plot that "involves insulting and assassinating the supreme leadership."
North Korea has already expressed its displeasure at the movie on a couple of occasions.
Assuming it doesn't escalate to military deployment, this is all perfect publicity for The Interview, which is released in October.
UK Princes- Princes William and Harry hang out on Google
Britain's Princes William and Harry took part in their first online question and answer session from Buckingham Palace.
The princes participated in a Google hangout, appearing live via webcam. They chatted to four young leaders in Commonwealth countries around the world, to help launch the Queen's Young Leaders Programme.
Speaking about the web chat, Prince Harry thanked everyone for their patience.
"Well I'd quite want to speak to everybody who is online at the moment saying a huge thank you. I know it's different times of the day or night all over the place but thank you very much for being patient and, well, myself and William are here just to show our support for all the young leaders across the Commonwealth and especially you guys and girls that have managed to get online and stay online for this amount of time. So, from both of us a huge thank you for taking part in this and, yeah, the stuff that you guys do is hugely inspirational. So, don't stop now - this is the beginning."
Prince William then hosted a reception at the British Sub-Aqua Club with his father Prince Charles.
The event was held to mark William's new role as the president of the club, following in the footsteps of his father and grandfather, the Duke of Edinburgh.
That's it for this edition of the Beijing Hour - a quick recap of headlines before we go:
A high-level China/US dialogue has wrapped up in Beijing with agreements signed and promises to move forward on a new investment treaty...
A new report details how China is helping to reduce poverty and improve lives in developing countries...
And 29 of 31 provinces on the Chinese mainland have now relaxed rules regarding the one child policy...
In business, The US has announced an end-date for its stimulus program...
On behalf of the Beijing Hour staffers, this is Shane Bigham in Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together.
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