| The Beijing Hour
Morning Edition
Paul James with you on this Tuesday, April 14, 2015.
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 issued a new call for closer clean-energy cooperation with the US.
A new program has been launched by authorities in Hebei to try to clean-up the worst-polluted province in China.
Florida Senator Marco Rubio has officially announced his intention to run for the Republican nomination for President.
In Business... Chinese officials pointing to a sluggish global economy as the main reason for a sharp downturn in foreign trade.
In Sports... China's representation in the Volvo Ocean Race back in-action after repairs.
In entertainment... British actor Benedict Cumberbatch talks about life as an impending father.
All of that coming up in just a moment, but first, just a reminder there are several ways to reach out to us here on the Beijing Hour.
You can follow us on our weibo account at weibo.com/beijinghour, or email us directly at [email protected].
Top News
Chinese premier urges stronger clean energy cooperation with U.S.
Chinese Premier Li Keqiang has met with a U.S. trade mission in Beijing, calling for stronger cooperation in clean energy and environmental protection between the two countries.
The US delegation is in China to help implement a consensus reached between the leaders of the two countries connected to clean energy cooperation.
U.S. Commerce Secretary Penny Pritzker.
"As part of President Obama's visit last November, the president directed that I on behalf of the department of commerce and my colleague, the deputy secretary from the department of energy that our two departments lead a clean energy , trade mission. And this is a historical mission because it's a presidential mission and also the first time to China led by two departments of our government."
Speaking to the delegation, Chinese Premier Li Keqiang says the promotion of clean energy will benefit both sides.
"Your visit this time is labeled as "presidential trade mission" which according to you is the first time. It shows the importance and great potential of the trade ties between China and the US, China is willing to work with the US side to promote its stabilization and fast development."
The Chinese and US sides formalized new emission reduction targets as part of last year's APEC Summit held here in Beijing.
China-US Joint Cooperation on New Energy Makes Progress
Anchor
For more on what China and the US are doing when it comes to clean energy cooperation, CRI's Xie Cheng caught up with a number of the business leaders from the delegation.
Reporter
Ecolab Inc., an American global provider of clean energy technologies and services, has made great progress on helping industries in China to produce their goods with less water consumption.
Those industries include dairy plants, food industries, steel mills, paper mills and a great number of energy firms.
The company has grown 10 times larger for the last 5 years in China.
Christophe Beck, the Executive Vice President of the firm, talks about how green technologies are successful in China's paper industry.
"If we take the paper industry, for instance, which is a big one in China. We've brought our technologies to purify the water to produce better paper and afterwards we purify the water that comes out from the paper mill, and we recycle it within the paper mill which helps paper mill produce with much less water."
He also says water treatment and food safety are the two biggest fields in which they will cooperate with China.
"The first one is water treatment and helping companies produce with no net water intake, we recycle everything. The second one is food safety, we can help the food and beverage industry to produce safer food."
Another company, McWong Environmental Technology, has been promoting ZLD, or Zero Liquid Discharge, to solve the waste water issue in some Chinese industries.
The main idea is to reuse the solid waste, turning it to a useful industrial product.
In this way, they will recycle all of the material from waste water treatment.
Alex Ping Zhang, President of the company, says he's quite pleased with the cooperation with China.
"Many Chinese companies now have better understanding the needs and have a very high social responsibility, and are also required by new environmental law, so cooperation we getting from counterparts are very good."
He adds that the company's goal is to save money, land, energy, manpower, and eventually to produce affordable ZLD projects for Chinese clients.
For one of the ZLD projects, they're cooperating with ChinaCoal Mengda New Energy Chemical Company Limited in Inner Mongolia. This project is now under the commissioning stage.
Another project with China National Cereals, Oils and Foodstuffs Corporation is still in operation.
For CRI, I'm Xie Cheng.
Hebei Launches New Program to Fight Air Pollution
Provincial authorities in Hebei have launched a new action plan to try to curb air pollution.
The goal is to cut average concentrations of PM2.5 by 25 percent below 2013 levels over the next 3-years.
Plans include upgrading highly-polluting industries in the region, including iron, steel and cement mills.
They also involve stricter punishments for companies which don't comply with the new regulations.
Xu Huailiang is the deputy director of the Environmental Protection Bureau in the city of Xingtai.
"There will be no ceiling for daily fines. We won't stop imposing penalties on companies until they start complying. Under the new rules, the legal owner of these companies will also be held accountable."
Hebei's provincial government also has plans to promote the use of clean energy to cut emissions.
Provincial vice-governor Zhang Jiehui.
"All the 'yellow label' vehicles are being removed from the streets, as planned. At the same time, we're strengthening the monitoring of automobiles, as well as introducing new energy cars into the public transportation sector."
Municipal authorities in Tianjin are also pulling all so-called 'yellow label' vehicles off the road.
This is expected to be complete by next month.
"Yellow label" vehicles are older vehicles which don't meet the current emission standards.
The province of Hebei is the most polluted region in China, with 7 of the 10 most polluted cities in the country in the province for the last 2-years.
China to intensify terror fight, enhance video security monitoring
Additional security measures are being established in more public areas in China.
The security upgrade will include more counter-terrorism patrols in the public transport system.
Additional video monitoring is also being established.
Stepped-up police patrols will also be taking place during both the morning and evening rush hours.
Schools, financial institutions, commercial sites and hospitals will also have additional security.
Security forces are going to be bolstered by additional community volunteers.
A new recruitment campaign is being launched to get more people involved in the community volunteer program.
Premier Li Keqiang Highlights Observing Common International laws at the 54th AALCO annual session
Anchor
Chinese Premier Li Keqiang has stressed the importance of observing international laws as part of the development strategy for Asian and African countries.
The comments have been made as part of a speech the Premier has made to the Annual Session of the Asian-African Legal Consultative Organization in Beijing.
CRI's Yin Xiuqi has more.
Reporter
Premier Li Keqiang reiterates China's commitment to the Five Principles, noting that the ideas are even more important under the current complex international situation.
“As a founding member of the United Nations, China holds the view that we should consolidate the international system on the basis of sovereign state, and abandon the law of jungle. Asia and Africa countries should jointly protect the post-war international order with the United Nations at its core, staunchly uphold the authority of the UN Charter, and adhere to the fundamental principle of sovereign equality, non-interference in each other's internal affairs and non-use of force."
In 1954, leaders of China, India and Myanmar initiated the Five Principles, including mutual respect for sovereignty and territorial integrity, mutual non-aggression, non-interference in each other's internal affairs, equality and mutual benefit, and peaceful coexistence.
The Principles were laid out at the first Asian–African Conference held in the Indonesian city of Bandung.
The notion has become the grounding of the basic norms governing international relations as well as basic principles of international law.
The Asian-African Legal Consultative Organization, or AALCO, was also established after the conference in Bandung.
Premier Li Keqiang said China would further work with AALCO and member countries to seek democracy and the rule of law in international relations.
For some regional conflicts and historical problems, we need to solve them through negotiations rather than resorting to force. For the controversial issues, we should tackle them in the manner of mutual understanding and accommodation, and try to achieve the greatest common divisors. If we are pursuing peace in a sincere way, we can resolve all the problems and overcome all the barriers. The way Asian and African people getting along with each other will be broader and smoother."
The annual AALCO session, which will take place in Beijing from April 13 to 17, will involve delegates from AALCO members and international organizations.
A special meeting will commemorate the 60th anniversary of the Bandung Conference in 1955, and an international seminar on United Nations chapters and post-war international order are scheduled to take place on the sidelines of the AALCO session.
For CRI, I'm Yin Xiuqi.
Senator Rubio Stretched the GOP bench for 2016
Anchor
Florida Senator Marco Rubio has announced he's making a run for the Republican nomination for President, joining Ted Cruz and Rand Paul in the race for the White House.
CRI chief Washington correspondent Xiao Hong with more.
Reporter
The 43-year-old Rubio, the son of Hispanic immigrants, is one of the rising stars in the GOP.
In making his announcement, Rubio is promising his election will usher in a "new American Century".
"Well now the time has come for our generation to lead the way towards a new American century."
Rubio has told his supporters he feels "uniquely qualified" to be president.
He's also used his announcement to criticize Democratic hopeful Hillary Clinton as "a leader from yesterday".
Clinton, the former first-lady and Secretary of State, confirmed her intention to run for the Democratic ticket on Sunday.
He says his election to the White House will see him clean-up, what he describes as, the Obama administration's failed policy.
"But our country is always about the future. And before us now is the opportunity to author the greatest chapter yet in the amazing story of America. But we can't do that by going back to the leaders and ideas of the past. We must change the decisions we're making by changing the people who are making them"
Rubio is considered by many pundits as the Republican’s best chance to court both the Latino vote, as well as younger voters, in the swing-state of Florida.
However, it's widely expected he's going to have to face-off against former Florida governor Jeb Bush.
Bush has yet to officially declare his candidacy.
Xiaohong, CRI, Washington DC.
Russia lifts ban on supply of S-300 missile systems to Iran
Russia is now moving to ship an air defense missile system to Iran.
The S-300 missile system deal, worth around 800-million US dollars, was originally signed in 2007.
However, the contract was cancelled in 2010 after a UN Security Council resolution passed which banned the supply of conventional weapons to Iran.
Russian Foreign Minister Sergei Lavrov says the preliminary nuclear deal which Iran has agreed to now allow for the original contract to be fulfilled.
"We are convinced that at this stage there is no longer need for such an embargo, specifically for a separate, voluntary Russian embargo. Because of the suspension of the contract, Russia has failed to receive significant funds. We see no need to continue doing that, taking into concern the progress in the Iranian nuclear program settlement."
Iran's defense minister is welcoming the renewal of the contract, saying Russia's decision indicates a political will between the two countries to improve cooperation.
The Israeli government is blasting the Russian move, saying it's a proof that Tehran is benefiting from the nuclear deal by arming itself with advanced weapons.
The US government is also raising concerns.
White House Press Secretary Josh Earnest.
"We're studying the details. And if this sort of arrangement were to move forward, it would raise serious concerns and even could potential raise sanctions concerns. So we're going to continue to evaluate that moving forward as well."
Moscow's decision to re-establish the missile contract follows on the heels of Iran agreeing to an interim nuclear agreement which should significantly restrict Tehran's ability to produce nuclear weapons in exchange for relief from international sanctions.
Fukushima robot may finally reveal melted fuel debris
A robot has been sent inside one of the reactors at the Fukushima nuclear plant in Japan.
Japanese officials are sent in the robot will be able to locate the melted nuclear fuel debris left-over from the 2011 meltdown.
Teruaki Kobayashi is with the Tokyo Electric Power Company, or TEPCO.
"We have found out that there is a secure opening to go further into the basement, and confirmed that there is nothing obstructing the way. The mission proved that in future inspections, we won't be faced with factors that block our way to go further."
TEPCO officials say the initial testing suggests the radiation levels inside the plant are significantly lower than first expected.
The robot itself only completed around two-thirds of its survey before becoming stuck in the debris.
TEPCO says the machine did manage to collect enough data before becoming immobilized.
The Fukushima nuclear power plant melted down after water from the 2011 tsunami innondated the facility, creating the worst nuclear power disaster since the Chernobyl disaster in the 1980's.
French Spy Law Causes Controversy
The French parliament is debating a bill that would grant the country's spies more power to track phones and emails inside the country.
France's ruling Socialists are pushing forward the proposal, which would allow the country's intelligence agencies to tap phones and emails without seeking permission from a judge.
French Prime Minister Manuel Valls.
"Intelligence services need to have the human, judicial and technical means in order to accomplish necessary and appropriate surveillance operations."
Under the proposed law, French surveillance staff will be able to bug suspects' flats with microphones and cameras.
They can also add so-called "keyloggers" to those suspects' computers to track every keystroke.
The French government has already set aside 450-million US dollars to recruit thousands of extra police, spies and investigators.
However, web hosting companies and civil liberties advocates are already raising concerns.
A number of web-hosting companies are already threatening to relocate outside France.
One Year Anniversary for missing Nigeria's Chibok girls
An activist group calling itself "Bring Back Our Girls" has held a prayer session in Nigeria's capital Abuja to mark the one-year anniversary of the kidnapping of dozens of school girls by Boko Haram militants.
Over 200 schoolgirls were abducted by the Islamist militants in northern Nigeria.
Many of them have reportedly been sold into sexual slavery.
Maureen Kabrik is part of "Bring Back Our Girls."
"So for us this is a very significant event as we commit our activities into the hands of God and ask for his mercy and plead that he also helps to intervene in the issue of our Chibok girls."
Reports have suggested that as many as 50 of the abducted girls were spotted nearly a month ago.
Those reports have not been confirmed.
The abduction of the girls led to wide-spread criticism of the Nigerian government's handling of the Boro Haram insurgency.
Disatisfaction about the handling of the insurgency is widely believed to have led to the downfall of former Nigerian President Goodluck Johnathan in the election earlier this month.
Coordinating center established for customs along the Silk Road
A new coordination center for customs clearance along the Silk Road Economic Belt has been put into operation in the coastal Chinese city of Qingdao.
The center is going to be responsible for coordinating customs clearance of goods through 10 different cities in China.
Aside from Qingdao, other cities along the Silk Road Economic Belt, including Xi'an and Tibet's capital, Lhasa, have been tapped as customs clearance hubs.
In creating the customs clearance centers, Chinese officials say they expect they will help reduce the time and costs of transporting goods along the proposed Silk Road Economic Belt.
Shenzhen citizen's entry to Hong Kong restricted
Anchor
The central authorities have officially announced people from Shenzhen are now limited to travelling to Hong Kong only once a week on their multiple-entry permits.
The new policy is part of a broader-based initiative to try to crack down people smuggling goods from Hong Kong into the mainland.
CRI's Hong Kong correspondent Li Jing has more.
Report
Shenzhen, a border city in South China's Guangdong Province, introduced the multiple-entry scheme in 2009, facilitating its permanent residents to visit Hong Kong as many times as they want.
Parallel traders have since taken advantage of the policy to buy duty-free products in Hong Kong and resell them in the mainland for profit. As a result, the increase in parallel importers has pushed up retail prices and disrupted locals' daily lives in border districts in Hong Kong.
The decision was made by the central government after huge numbers of tourists from the mainland put a strain on Hong Kong's accommodation capacity.
Chief Executive in the Special Administrative Region CY Leung.
"The Hong Kong government is very concerned over the recent period as a result of Hong Kong's ability to withstand this problem (the influx of mainland shoppers). So, last June, the Hong Kong government proposed to the Chinese Central government to cancel the policy of multiple visits passes and replacing it with the once-a-week travel passes."
The new policy is welcomed by some Hong Kong residents.
"It will be less crowded, and if the rental fee drops in retail stores, we can buy cheaper products there."
However, Lau Nai-keung, a member of the Basic Law Consultative Committee, says the new move will not reduce parallel trading activities.
"Hong Kong residents will monopolize the parallel trading business. We have been doing this business for hundreds of years. It cannot be stopped. "
Statistics show that currently, more than half of the parallel traders are actually from Hong Kong.
Hong Kong's Chief Executive CY Leung says the authorities will fight against the parallel trading business hand-in-hand with authorities in Shenzhen.
"We have to distinguish parallel traders that come to Hong Kong more than once a week from other visitors. The new measure is to target professional parallel traders. We are aware that Hong Kong residents will continue their business, authorities will strengthen the crackdown."
Some retail insiders also worry that the new policy would further dampen the local economy. Lawmaker Vincent Fang is one of them.
"The retail sector will be affected. Pharmacies and stores selling daily necessities will be hurt first. We don't know what to do yet. "
The tightening measure comes at a time when Hong Kong tourism sees a decline in the number of visitors and a slump in sales last month. CY Leung says Hong Kong continues to welcome all tourists.
"The new policy doesn't mean that we don't want to promote tourism development. As a matter of fact, authorities will adopt a series of campaigns shortly to attract visitors from all around the world."
The one-visit-per-week permit would be issued from Monday, while multiple visit visas already issued remain valid.
The restriction is expected to cut the number of visitors to Hong Kong by 4.6 million a year.
For CRI, this is Li Jing in Hong Kong.
Stranded Sea Lion Pups Put Californian Rehabilitation Centers on Strain
Anchor
Rising sea temperatures are being pointed to as one of the main factors behind the record-high number of seal pups found starving along beaches in California.
CRI's Guo Yan has more.
Reporter
According the US National Marine Fisheries Service, the organization has seen nearly 2500 sea lion pups come ashore along the California coast through the first three months of this year.
The number is 20 times higher than the average number of strandings for the same time period over the last decade.
It is also twice the number documented in 2013, which was the worst winter season recorded.
Scientists believe the animals are suffering from a shortage of prey, which forces nursing mother to venture farther out to sea for food, leaving their youngsters behind to defend themselves.
The stranded animals are usually picked up by local wildlife and marine animal rehabilitation centers.
However, space is running out.
Justin Viezbicke is a California Stranding Network Coordinator for the National Marine Fisheries Service.
"It's very difficult and I've had a lot of really though heart to heart conversations with people on the phone trying to explain that we're doing our best but the reality is, with our limited resources, there's only so much that we can do and then after that mother nature is going to take her course."
Another facility hosting stranded sea lions is the triage center.
But if spots are not available, staff in the center must euthanize the animals.
The food shortage off the coast of Southern California is believed to have been triggered by warming waters due to unusually weak winds along the West Coast
Stronger winds usually help pull nutrient-rich cooler water from the depths of the Pacific closer to the surface, providing larger supplies of sardines, smelt and other prey for the sea lions.
Experts also assume this winter's El Nino effect, which alters ocean currents and temperatures, may be compounding the food shortage.
The weaker winds and rising ocean temperatures have been occurring since 2013.
Viezbicke worries the trend will cause additional ecological effects.
"I think the bigger question is in the long term how is our coastal ecosystem going to be in the next year or so. Are the winds going to kick back up? Are we going to start to see some upwelling? Those are the things that are going to be kind of indicators as to what we should expect for the future. If we don't see that north wind like we normally see and that upwelling start to occur out there, we will probably anticipate seeing more of what we're seeing in the next year."
Some scientists say the elevated stranding numbers during the past three years could be a trend.
The fisheries service documented over a thousand strandings in March alone, which represents the largest number recorded for a single month since 2004.
The surge of stranded sea lions has overwhelmed marine mammal rescue centers from Santa Barbara to San Diego.
For CRI, I'm Guo Yan.
Shanghai Launches Rush-hour Taxis Project to Facilitate Roadside Hailers
Authorities in Shanghai have initiated a new project to help people hail taxis in the downtown area.
Around 6-thousand taxis are going to be allowed during rush-hours to pick up street-fares.
This is around 10-percent of all the taxi's in Shanghai.
The taxis themselves will only be on the street during the morning and afternoon commutes during the weekdays.
Sun Jian is with the Shanghai Transport and Port Administration.
"The project not only helps taxi-booking apps, but also meets the needs of people with no access to the Internet, such as elderly people."
The taxis themselves will have different color signs in the windshield to designate that they are street-fare-only taxis.
Shanghai, China's most populous city, is notorious for its lack of available taxis.
weather
Beijing will be sunny today with a high of 25 degrees Celsius.
Overnight temperatures should drop down to 8.
Shanghai will be cloudy with a high of 16 and a low of 11.
In Chongqing, it will be sunny during the daytime with a high of 27.
Overnight it will see showers with a low of 16.
Elsewhere in the world, staying here in Asia,
Islamabad will be sunny with a high of 39.
Kabul will be cloudy with a high of 25.
Over to North America,
New York will have rainy with a high of 19 degrees.
Washington, also rainy with a high of 18 degrees.
Honolulu, cloudy, 28.
Toronto, Canada, will be cloudy with a high of 18 degrees.
Finally, on to South America,
Buenos Aires will be overcast with a high of 29.
And Rio de Janeiro will be cloudy with a high of 28 degrees Celsius.
Headline news
Australia approved as AIIB founder
China's Finance Ministry has confirmed Australia has been approved as a prospective founding member of the Asian Infrastructure Investment Bank.
This brings the number of prospective founding members of the organization to 47.
Founding members of the bank will have a say in how the organizational structure of the AIIB will be laid-out.
Countries that applied after March 31st will still have voting rights only but they will not have much of a say in the rules of the bank.
The final list of who will be founding members is due to be released tomorrow.
The AIIB is expected to be established by the end of this year to finance infrastructure projects in Asia.
Norovirus outbreak hits cruise ship
More than 100 people have become ill as part of an outbreak of the Norovirus on a cruise ship currently docked in the city of San Diego, California.
The outbreak began as part of a 15-night cruise, which ran along the North American west coast.
In February, another ship run by Celebrity Cruises suffered a Norovirus outbreak which sickened more than 140 people.
The Norovirus creates flu-like symptoms in its victims.
While uncomfortable, the virus is generally not deadly.
However, it his highly virulent, which makes cruise ships particularly vulnerable as hundreds of people are confined in a small space for days on-end.
U.S., AU sign agreement to establish African CDC
The United States and the African Union have signed an agreement to establish a Center for Disease Control and Prevention in Africa.
The African CDC will be headquartered in the Ethiopian capital, Addis Ababa.
The US CDC is to provide technical help in establishing the new center.
In signing the deal, US Secretary of State John Kerry says the Ebola outbreak in West Africa has highlighted the need for a public health support center for Africa.
Two detained in Beijing "Fast and Furious" car race
Two people are being detained after an accident, which is being described as a real-life "Fast and Furious" car race.
The drivers of a red Ferrari and a green Lamborghini ended up crashing as part of a street-race in Beijing.
The drivers both ended up clipping a tunnel guardrail, then slamming into walls at speeds of more than 160-kilometers per hour.
Both drivers survived.
"Fast and Furious 7", the latest installment of the street-racing film franchise, premiered in Chinese theatres this past weekend.
Canadian tourist sued for hitting, killing Chinese woman at Great Wall
A Canadian tourist is being sued by the family of a Chinese woman who died after an accident in Beijing.
The 73-year-old woman died after being bumped by the Canadian woman while climbing down the Mutianyu section of the Wall last week.
She hit her head and later died of her injuries.
Police have declared the incident an accident.
Biz Reports
Anchor
First, a quick look at the closing numbers across North America and Europe.
Reporter
The US markets finished lower on Monday, snapping a three-day winning streak, with investors mostly sitting on the sidelines while they await the rollout of a series of quarterly earnings reports from big companies.
Earnings season shifts into high gear this week with results from blue chiper JPMorgan due out before the opening bell later on this Tuesday.
Wells Fargo, Johnson & Johnson and Intel are also set to report their quarterly earnings this Tuesday.
Analysis by Bank of America-Merrill Lynch is suggesting this quarter is likely going to mark the first since 2009 for earnings to decline on a year on year basis.
At the close, both the Dow Jones and the S&P 500 dipped half a percent.
The Nasdaq Composite Index slipped 0.2 percent.
Over in Europe,
Equities' there dipped on the heels of poor Chinese trade data.
We'll have more on that in just a moment.
At close,
The UK's FTSE 100 declined 0.4 percent.
Germany's DAX finished down 0.3 percent.
France's CAC 40 bucked the trend, gaining 0.3 percent.
China's export slumps 15 percent in March
Chinese customs officials are pointing to a sluggish global economy as one of the key factors behind the dramatic downturn in foreign trade this past month.
Imports into China through March dipped nearly 13-percent.
At the same time, exports through last month dropped by nearly 15-percent on an annualized basis.
The March figures pulled China's first-quarter foreign trade volume down by 6 percent year-on-year.
Huang Songping with the General Administration of Customs.
"First, demand from the global market is down and export orders have declined. According to our survey of some 3-thousand Chinese exporters, about 44-percent of them are showing that their export orders have fallen significantly since October. In March, the proportion of exporters with down numbers has risen to 47.3-percent, which is worse than the previous levels."
The Chinese government's foreign trade growth target for this year has been set at around 6 percent, which is down significantly from the 7.5-percent goal set for 2014.
China's rail freight volume shrinks 9 percent in first quarter
New stats show railway freight volume has dropped significantly through the first quarter in China.
The China Railway Corporation says around 870-million tons of cargo moved along the rail system from January to March.
This is down around 9-percent year-on-year.
Railway freight data is part of the so-called Li Keqiang Index.
These are indicators looked at by the government to assess the overall health of the economy.
China's crude imports rise 14 percent in March
Crude oil imports here in China have increased by some 14-percent in March on an annualized basis.
However, March imports, which hit 6.3 million barrels per day, are down 5-percent on a month-by-month basis from February.
With global oil prices at their lowest level in some 6-years, the Chinese government has been taking advantage to top-up the strategic reserves.
Crude oil imports through the first-quarter increased 7.5-percent year on year.
China has remained a net oil importer so far this year after being a net exporter through part of last year.
Call-in with Gao Shang Hang Seng Surges to seven year high
The Hang Seng in Hong Kong extended an 8-day winning streak on Monday, jumping 2.7-percent.
The index closed Monday at a 7-year high, with a rush of mainland investors moving to buy stocks.
HSBC, which has the largest weighing on the Hang Seng Index, increased 1.5-percent.
China Construction Bank and Bank of China shares saw even stronger trading days, both gaining nearly 8 percent in value.
Reports suggest some 4.3-billion US dollars worth of money from the mainland has poured into Hong Kong since last Wednesday.
For more on the surging Hong Kong stock market, we are joined on the line by Gao Shang, analyst with Guantong Futures.
Talking points:
1. The Hang Seng Index ended at a seven year high on Monday, is this mainly driven by the enthusiasm from mainland investors?
2. Are there any volatility risks as the market has been soaring very fast?
3. Southbound investment in the stock connect program dropped significantly yesterday. Only 10 percent of the daily quota was used. Are mainland investors already starting to cash in?
Back anchor:
Gao Shanghai, analyst with Guantong Futures.
Tencent hits 206 billion dollar market cap
Chinese tech giant Tencent has, for the first time, surpassed a market cap of over 200-billion US dollars.
Share of China's largest social networking firm gained over 5.4 percent in Hong Kong trading on Monday, valueing the company at 206-billion US dollars.
Tencent's shares have surged 52 percent from the start of this year.
Shenzhen-based Tencent is now ranked 3rd behind Facebook and Alibaba in valuation in the tech world.
Facebook is valued at 230-billion US dollars.
Alibaba is said to be worth some 210-billion US dollars.
State Grid in 32 billion dollar move in Xinjiang
State Grid has announced plans to invest some 32-billion US dollars in Xinjiang over the next 5-years.
The goal is to funnel Xinjiang's excess power generation to other parts of the country.
The multi-billion US dollar plan includes creating transmission lines among Xinjiang, Sichuan and Chongqing.
Other lines will also be established linking Qinghai and parts of eastern China with Xinjiang's power grid.
Money is also going to be spent on increasing the power generation capasity in Xinjiang as well.
Greenland rolls out 1st online debt offer
Chinese property developer Greenland has launched a new bond offering on Alibaba's online financing platform.
Greenland has already raised 32-million US dollars through the offering.
The bonds have an annual yield of 6.4-percent.
The product, which has a minimum subscription of 20-thouasnd yuan, sold out within 30 minutes of being listed.
Greenland says its going to use the money for a redevelopment project.
Redflag launches new model to target lower-end market
Chinese luxury auto maker Redflag has announced plans to launch a low-end model to try to cater to the middle-class.
Redflag is launching a new model of sedan which is priced below 250-thousand yuan.
Redflag's parent company, FAW, has also announced plans to spend some 200-million US dollars to upgrade its Redflag H7 model.
The new model, which is powered by an 18-hundred CC Turbo engine, will not be retailed.
Instead, the company will produce the cars through pre-orders.
Redflag became famous in China for being the official vehicles of the Chinese leadership in the 50s and 60s.
Sports
Dongfeng Team Arrives in Brazil to Start Next Leg of Ocean Race
Dongfeng Race Team arrived in Brazil in the early hours of Monday (April 13) two weeks after breaking their mast on Leg 5, but are ready to fit a new one and continue the Volvo Ocean Race.
The team docked at Itajai in the early hours, ready to fit the new mast which arrived from Dubai on Sunday (April 12) and rejoin the rest of the fleet.
Dongfeng Skipper Charles Caudrelier:
"I'm very happy because there was two things very important to be ready for the next leg, that's the boat arrive on time and the mast. And now tonight we know everything is there and we will be ready for the next leg."
Dongfeng dropped back to second overall with 16 points, seven behind Abu Dhabi Ocean Racing and just two ahead of Team Brunel and MAPFRE.
Leg 6 to Newport, Rhode Island starts this coming Sunday.
NBA: Preview Leading Up to Playoffs
Tipping things off with hoops action from the National Basketball Association as the regular season winds down:
In the playoff hunt are the Brooklyn Nets, who will face a Chicago Bulls. Brooklyn is one game behind seventh-place Boston and tied with Indiana for the eighth. Another Brooklyn loss or Boston win puts the seventh seed out of the Nets reach.
(UPDATE)
The New Orleans Pelicans and Oklahoma City Thunder are vying for the final playoff spot in the West, with N.O. owning the tie-break.
Which team will make it into the post season depends on the next two games remaining in the regular season
Today at 8 a.m., Beijing time, New Orleans is taking on Minnesota, while OKC will face a strong Portland Trailblazer team.
Oklahoma needs a strong two-game finish to have a chance at a playoff berth.
Football: CSL, EPL, La Liga Recap
In football action,
last night in the Chinese Super League:
In a meeting of middling clubs, Hangzhou Greentown and Henan Jiangye tied things at 0-0 in their scoreless match.
Over in teh English Premiere League:
Raheem Sterling may be earning back the love of Liverpool fans after delaying his decision to stay with the club until the summer.
Sterling opened up scoring in Liverpool's 2-0 win over Newcastle this morning. Joe Allen followed up in the 70th minute to double the Reds' lead.
The win keeps Liverpool's Champions League qualification hopes alive.
Over in La Liga:
Valencia cruised to a 3-0 win over Levante, who are in danger of dropping into relegation.
With the win, Valencie are now one point behind third-place Atletico Madrid and stay in the race for a Champions League showing.
Football: UEFA Quarter Finals Preview
In upcoming football action:
Atletico Madrid will be looking to avenge their 4-1 UEFA Champions League final defeat from last May, when they face bitter rivals Real Madrid in the quarter-finals tomorrow.
But Atletico mid-fielder Mario Suarez says this match will be different:
"We forget about that, it's the past, we are focused on the present - that is the quarter-finals this year, against Real Madrid. So it's going to be a beautiful game for all the people and we hope that we can win this time."
Atletico are unbeaten against Real in six matches, including a 4-0 rout.
And Juventus will host AS Monaco.
Juve have lost just once in 16 European matches at home and have never been beaten by French opposition at home.
Monaco won a group containing Bayer Leverkusen, Zenit St. Petersburg and Benfica and saw off Arsenal in impressive fashion in the last 16.
Tennis: Monte Carlo Masters
In tennis:
Roberto Bautista Agut, Fabio Fognini and John Isner advanced into the second round of the Monte Carlo Masters on Monday with straight sets wins.
Number 12 seed Roberto Bautista Agut was untroubled by Benjamin Becker in his Monte-Carlo Masters first round match on Monday.
The Spaniard capitalised on six of his nine break point chances to advance to the second round with a 6-0, 6-2 win over the German in 52 minutes.
Bautista Agut will next face Germany's Philipp Kohlschreiber.
Italy's Fabio Fognini also found things fairly comfortable against Jerzy Janowicz of Poland.
The world number 28 triumphed 6-3, 6-1.
He could be on course for a third round match against defending champion Stan Wawrinka.
Number 15 seed John Isner prevailed in an all-American first-round match.
The 29 year-old fired 13 aces to defeat Steve Johnson 6-4, 6-4 in 70 minutes.
Hockey: Blackhawks Winger Patrick Kane Cleared for Contact
And quickly, in hockey news:
Chicago Blackhawks winger Patrick Kane has been cleared for contact as of Monday after finishing up rehab for a shoulder injury.
The Chicago Tribune reports that Kane was seen during practice without wearing a non-contact sweater.
Kane told reporters he didn't "really know yet" if he will play in Game 1 of the Hawks' playoff match against Nashville on Wednesday.
Entertainment
China Benedict Cumberbatch talks during his trip to Shanghai
Actor Benedict Cumberbatch has taken time to muse about his impending role as a dad.
The 38-year-old actor is in Shanghai for a series of events, including Shanghai Fashion Week.
He also took in this past weekend's F1 race in Shanghai.
Cumberbatch, whose wife is pregnant, was asked how he plans to juggle fatherhood with his career.
"I think there are plenty of good actors who are fathers. I think what children do is enhance your life, they don't inhibit it, they don't limit it, they give you inspiration and depths of understanding of the human condition and what it is to be on this planet."
Cumberbatch is also in China to help promote the latest season of his hit TV show "Sherlock."
The latest season is set to be released in December.
Pole dancers from 14 countries gather in Beijing for World Championships
Pole dancers from 14 different countries have taken part in the World Pole Dancing Championships here in Beijing.
25-year-old Russian Galina Musina won this year's event.
"I am so happy and I am very surprised that I won. It's my dream. I hope pole dancing can become more popular. It's a nice sport and I wish more dancers start this sport and it becomes an Olympic sport."
Around 50 women, as well as men, from countries including U.K., Russia, Argetina, Ukraine, Chile, Philippines and host China took part in this year's competition.
Pole dancing has been increasing in popularity in China.
It's estimated around 100-thousand people have signed on for pole dancing lessons here in China.
Tight rope walker Nik Wallenda announces to walk along Orlando Eye
Stunt man Nik Wallenda has announced plans to walk along the "Orlando Eye."
The "eye" is a 400-foot tall spinning observation wheel.
The 36-year-old Wallenda admits this is one stunt he's going into somewhat blind.
"This is something that I can't really train for. Normally for my events I train with wind machines and I train with weather in the area and I train on a wire that's rigged the same and tensioned the same."
Wallenda broke two world records in November when he walked a high-wire between two skyscrapers in Chicgao without a net or harness.
The second walk he did blindfolded.
His great-grandfather, Karl Wallenda, fell to his death at age of 73 while performing a high-wire stunt in 1978.
Kate Winslet and Alan Rickman attend the premiere of 'A Little Chaos'
Actors Kate Winslet and Alan Rickman are reuniting for the first time since their 1995 film "Sense and Sensibility."
The British actors are starring in a new film titled "A Little Chaos."
The film, set in France in 1682, depicts a strong-willed and talented landscape designer, played by Kate Winselet, who is chosen to create one of the main gardens for the Palace of Versailles.
Alan Rickman both stars-in and directed the film.
"I hope that what people see after a while is that the period costumes fall away, metaphorically, and that you see that this is still a very modern story about a male-dominated world, where women are decorative objects and judged by how they look, what they are wearing."
"A Little Chaos" is set for release in the UK later this week.
That’s it for this edition of the Beijing Hour.
A quick look at the headlines before we go...
Chinese Premier Li Keqiang has issued a new call for closer clean-energy cooperation with the US.
A new program has been launched by authorities in Hebei to try to clean-up the worst-polluted province in China.
Florida Senator Marco Rubio has officially announced his intention to run for the Republican nomination for President.
In Business... Chinese officials pointing to a sluggish global economy as the main reason for the sharp downturn in foreign trade.
On behalf of the Beijing Hour staffers, this is Paul James Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together. |