Morning Edition

Paul James with you on this Thursday, April 30, 2015.

Welcome to the Beijing Hour, coming to you live from the Chinese Capital.

Coming up on our program this morning...

The United Nations has put out an appeal of over 400-million US dollars for assistance for quake-ravaged Nepal.

The Chinese government is warning the US not to include the Diaoyu Islands in its defense policies with Japan.

China's State Council outlines new tax reductions for consumer goods.

In Business.... Chinese authorities have announced their subsidy program for shale-gas exploration is going to be extended.

In Sports.... Pacquiao and Mayweather address the media for the last time ahead of their big fight this weekend.

In entertainment... a Chinese psychological-thriller due to hit Chinese theatres later on today.

Top News

UN appeals for $415 million to help Nepal quake victims

The United Nations has launched an appeal for 415-million US dollars in international assistance for Nepal.

It comes as initial assistance is just beginning to reach remote regions near the epicenter of Saturday's devastating earthquake.

The 7.8-magnitude quake has left well over 5-thousdand dead.

Nepalese officials are warning the death toll may rise above 10-thousand as searchers begin to gain access to regions of the country which have been cut off by Saturday’s earthquake and subsequent aftershocks.

Jamie McGoldrick, UN resident coordinator for Nepal, says additional money is needed immediately to help cope with the half-million people still being forced to live outdoors.

"The biggest budget items are not a surprise to anyone: those are food, water sanitation, hygiene and shelter. Funding at this point in time is so critical, to get the amount of money across those key sectors, in order for us to deliver the humanitarian assistance at the level and the type that is required. It would be a real challenge due to the terrain and the topography of this country, it will be a real challenge because of the impact of the earthquake on some of these roads, and this would be problematic."

Meanwhile, thousands of people have been lining up to board buses to try to leave the capital Kathmandu, amid fears of further aftershocks.

All the climbers who survived Saturday's quake and had been trapped on Mt. Qomolangma, or Mount Everest, have now been safely extracted from base camps.

Close to 20 climbers were killed in the massive avalanches triggered by Saturday's quake.

Evacuation of Tibetan town begins after quake

Thousands of people are being evacuated from the Tibetan town of Zham, which lies on the border with Nepal.

This comes amid lingering concerns about additional landslides following Saturday's massive earthquake.

More than 2-thousand people in the town of some 6-thousand have already been moved out.

Xigaze Mayor Zhang Hongbo says the evacuation is going smoothly.

"The regional Party Committee and the government have given us clear instructions about the evacuation. We're doing everything we can to move the people out, with the help of the PLA soldiers and the Armed Police."

17 seriously injured residents of Zham are among the first group to be evacuated.

More than 600 tents have also been set up at a resettlement site outside the danger zone.

Officials are warning the site is likely be home to around 25-hundred people for at least a year while the reconstruction of the town takes place.

At the same time, authorities are also relocating close to 19-thousand people in Nyalam County, one of the hardest-hit by Saturday's quake in Nepal.

Zhang Quan with the Tibet Regional Armed Police Unit says one of their priorities is evacuating a school in the area.

"We are about to depart with 8 vehicles, carrying third-year teachers and students from the Middle School of Nyalam County. There are 218 of them, who will be moved to the Xigaze Vocational School to resume their education."

The quake in Nepal toppled more than 25-hundred houses in southern Tibet, displacing some 52-thousand people.

The death toll in Tibet stands at 25, with 4 still missing.

China urges US, Japan not to drag Diaoyu Islands into bilateral security treaty

The Chinese government is calling on both the United States and Japan not to drag the Diaoyu Islands into their bilateral security arrangement.

The call has been made following comments from US President Barack Obama, who says the Diaoyu Islands are covered under the current US-Japan security treaty.

Chinese Foreign Ministry spokesperson Hong Lei is warning the US side not to send wrong signals when it comes to territorial dispute between China and Japan.

"We urge the U.S. to take a responsible attitude and keep its promise of a neutral position on the territorial sovereignty issue, not to send wrong signals. The U.S. should play a constructive role on peace and stability in the region."

At the same time, the Chinese Foreign Ministry has also issued a response to the US side's stated concerns over Chinese land reclamation projects in the South China Sea, suggesting its work in those waters is of no concern to either the US or Japan.

"The U.S. and Japan are not the parties concerned in the South China Sea disputes and should keep a neutral position on the issue. Don't impair the peace and stability in the region or make moves that may complicate the issue."

The Chinese government insists it has irrefutable sovereignty over the Nansha Islands and their adjacent waters.

Disputes over those islands involve the Philippines.

China's State Council Unveils Tax Measures to Boost Consumption

The State Council, China's cabinet, has outlined a series of tax policies to fuel domestic consumption and promote the export of consumer goods.

Import tariffs on certain goods that have high domestic demand will be reduced within the next two months.

At the same time, the varieties of imports that enjoy tax reductions will be gradually expanded.

Consumption taxes on mass consumer goods such as clothing and cosmetics are among those items on the list.

More duty-free shops at ports of entry will also be given a higher purchasing cap for individual tourists.

For more on the changes, CRI's Zhao Yang spoke earlier with Einar Tangen, former Chair of the State of Wisconsin's International Trade Council.

Back anchor:

That was Einar Tangen, Former Chairman of the State of Wisconsin's International Trade Council, speaking with CRI's Zhao Yang.

Unrest in Baltimore Appears to be Easing

U.S. Attorney General Loretta Lynch has gone on-record saying she's "heartened" the unrest in the US city of Baltimore appears to be easing.

Lynch says she has directed the U.S. Justice Department to provide assistance to the city in the aftermath of the recent riots.

"I have been in direct contact with officials in Maryland, including the governor, and I have directed this department to provide any assistance that might be helpful in restoring calm and resolving the unrest that broke out across the city,"

Meanwhile, Baltimore police say they are preparing to release a number of those detained in the unrest, but say charges may still be pending.

Around 35 people have been arrested since the beginning of the night-time curfew in Baltimore on Tuesday night.

Rioting broke out in the city this weekend following the funeral of a young black man who died in police custody last week.

Filipino drug dealer's alleged recruiter now under protective custody

The woman who allegedly recruited the Filipino woman who was spared this week from an Indonesian firing squad is now under protective custody.

Maria Kristina Sergio, who has reportedly admitted to recruiting Mary Jane Veloso to carry drugs in Indonesia, has been granted protective custody by Philippine police after receiving death threats.

Sergio stepped forward in the final hours ahead of Veloso's execution, claiming she recruited Veloso to go to Malaysia, before giving her a suitcase with drugs to later travel to Indonesia.

Sergio previously insisted she was innocent.

Veloso has insisted she was duped into taking drugs into Indonesia, claiming she was first offered a job as a maid in Malaysia, then told the position would be in Indonesia.

The execution of Veloso in Indonesia has been delayed following the last-minute request by Philippines President Begnino Aquino III.

However, 8 other convicts in the group, including 7 foreigners, were executed by firing squad yesterday.

The executions have triggered a backlash among international community.

Iran says cargo ship seized under court order

Iranian authorities their decision to seize a foreign cargo ship is part of a long-running commercial dispute.

Iran's elite Revolutionary Guards intercepted the cargo ship on Tuesday in the Strait of Hormuz.

Iranian Foreign Minister Mohammad Javad Zarif says the case is connected to a 16-year old lawsuit filed against the ship's owners, Maresk, by a private company in Iran.

"It is not a security issue or a political issue. The ship was asked to come to port, it refused. And our naval forces took action to escort it to the port. For us, freedom of navigation of the Persian Gulf is a must and we are prepared not only to respect it ourselves, but we call upon all others to respect freedom of navigation."

Iranian authorities say the ship will be released after it pays the financial damages it owes the Iranian company, as per the court order.

The 24 crew members aboard - mostly from eastern Europe and Asia – are said to be "in good health."

The seizure comes amid the heightened tensions in the Gulf connected mostly to the fighting in Yemen.

India and France Conducting Naval Exercise in the Arabian Sea

Anchor

The navies of India and France are conducting a joint maritime exercise in the Arabian Sea off the Indian coast at Goa.

Drills include aircraft carriers from both sides taking part.

CRI's Indian correspondent Sun Yang has more.

Reporter

One of the major attractions in the exercise is the French aircraft carrier Charles de Gaulle. The nuclear-powered ship carries 12 naval version Rafale fighters on board.

During a visit to France by Indian Prime Minister Narendra Modi earlier this month, India agreed to purchase 36 French Rafales in a deal that could be worth up to 4 billion euros.

The Indian ships deployed for the drill are the Indian navy's aircraft carrier Viraat, fast attack craft, Sea Harriers, along with other ships and aircraft.

The scope of the exercise includes the entire gamut of maritime operations from aircraft carrier operations, anti submarine warfare exercises, maritime interdiction operations to multi-ship replenishment exercise.

And the focus of the exercise will be theatre-level cooperation in aero-naval and anti-submarine warfare.

Relations between India and France have traditionally been close and friendly. With the establishment of a strategic partnership in 1998, there has been significant progress in all areas of bilateral cooperation and exchanges including naval exercises.

The Indian Navy and the French Navy have been conducting joint exercises since 1983.

Following the establishment of a strategic partnership, these exercises were christened 'Varuna' in 2001. The 10-day exercise will continue till May 3.

Back Anchor

CRI's Indian correspondent Sun Yang reporting.

Saudi Arabia King appoints new crown prince

The US government is offering its reaction to the political shake-up in Saudi Arabia.

White House spokesperson Josh Earnest says they're closely monitoring the move.

"The decision that was announced by the Saudi King today is an internal Saudi government decision. Saudi Arabia is a strategic partner of the United States and a regional leader, and we're going to continue to enjoy close productive relationships with the leaders of Saudi Arabia. We will do that because it's clearly in the best interest of the United States, it's clearly in the best interest of Saudi Arabia and that's why we're confident the U.S-Saudi relationship will continue to be strong."

Saudi's King Salman has appointed his nephew, Prince Mohammed bin Nayef, as the new Crown Prince.

The position, vacated by Prince Mugrin, is the 2nd highest position in the Saudi Royal hiarchy.

The 55-year-old has been the country's interior minister, and is widely known as Saudi Arabia's counterterrorism czar.

At the same time, the King's son and the current defense minister, Prince Mohammed bin Salman, the deputy Crown Prince, the 3rd in-line to the throne.

The major reshuffle has also seen long-time Foreign Minister Prince Saud al-Faisal be replaced by the Saudi ambassador to the United States Adel al-Jubeir.

Russia Gives up ISS Supply Mission

Russian space authorities say they've had to abandon a mission to supply the International Space Station.

The unmanned Russian cargo ship, carrying almost 3 tons of supplies, has been unable to dock with the International Space Station because of problems it has suffered following its launch.

Roscosmos head Igor Komarov says the supply ship lost control shortly after it reached its preliminary orbit.

"Because of this, the continuation of the flight of the cargo ship and its safe docking with the ISS is not possible. At the moment we are monitoring the on-board systems of the cargo ship and working out different options to provide the ship a water landing."

Russian officials admit they're going to lose the ship itself.

It's expected to burn up as it re-enters the atmosphere.

In making the announcement, the Russian Space Agency also says its going to hold-off on launching any more supply ships until at least the 2nd half of this year.

A lone Australian cop with a beat the size of the UK

Anchor

The impending retirement of a police officer in Australia is creating challenges for Australian police services, as he's the only officer tasked with patrolling an area in the Australian outback roughly the size of the United Kingdom.

CRI's Poornima Weerasekara has more

Reporter

Unlike most other police officers around the world, Neale McShane has no backup if he gets into trouble.

The next closest police station from his is nearly 400-kilometers away.

McShane is the only officer in-charge of overseeing a jurisdiction roughly the size of the UK.

His patch of territory covers about 240-thousand sq km across south-west Queensland, the Northern Territory and South Australia.

"There's not much in it though; a lot of camels, a lot of rocks, a lot of sand hills. Never a dull moment! You enjoy the work, but there comes a time for all of us to move on I suppose."

In such a remote area, crime isn't a major problem.

The last time McShane arrested someone was 4-years ago for a minor offence at the annual Birdsville Races.

What usually keeps him busy is rescuing injured or lost tourists who venture out unprepared for the harsh outback conditions.

He also spends a lot of time preparing visitors for travelling through the Simpson Desert.

This is where temperatures can reach above 50 degrees Celsius in the summer.

But despite the preparation, things do go wrong in the desert.

This is when McShane is called upon.

He averages around five desert rescues a year.

One of the toughest cases he's handled was in 2009, when McShane woke up to a sandstorm so large that it could be seen from space.

Authorities in Sydney called him to rescue a driver who had rolled his car somewhere in the scorching expanse of sand and rock.

McShane then spent the next 20 hours in the Simpson Desert driving virtually blind before finally locating the stranded traveller and helping him to safety.

Because he's the only officer stationed in the area, he often relies on the support of the locals, including an aboriginal elder who helps him navigate the rough terrain.

But now after 40-years in the service – almost 10 of them as the senior constable patrolling the vast desert plains and dirt roads around Birdsville – officer McShane is ready to hand-in his badge.

He says he would like to continue.

However, he's facing compulsory retirement from the service now that he's turning 60.

But Police in Queensland admit they're facing a tough challenge trying to find a replacement for McShane.

For CRI I'm Poornima Weerasekara.

International short animated films shine on China's animation festival

Anchor

The "Golden Monkey Awards" have been handed out at this year's International Cartoon and Animation Festival in the city of Hangzhou.

CRI's Zhang Wan has more from the event.

Reporter

At the start of the award ceremony, a medley of theme music from masterpiece animations excited fans that grew up in an animation world dominated by US and Japan.

The 39 winners were handpicked from over 1-thousand contestants by a jury composed of industry insiders from China and abroad.

Mystical Winter, the latest big screen version of contagious animated series Boonic Bears, or "xiong chu mo zhi xue ling xiong feng" takes the top award.

Several other domestic productions dominate other categories with one exception - the short film category.

Among the 15 winners on the list, seven are foreign productions.

Jury member Nelson Lowry, Art Director of LAIKA and director of well-acclaimed animated film Corpse Bride, says it reflects that good story-telling in animations works from different cultures.

"Something with universal theme that anybody can connect with, any age, any culture, something that we all understand to be a truth about each other."

Jury member Shelley Page, head of the International Outreach of Dreamworks, says she is particularly amazed by a New York-Taipei short film coproduction.

"The film is called 'something important', it was about somebody' s memory of his father who has died, and he studying 30 years later in the same place his father studied, and he begins to better understand his father, it's a very moving film."

Page says for a festival with such a strong global participation, it is better for the jury of the Golden Monkey Awards to adopt a more diversified approach.

"I think sitting with a Chinese jury is a different experience with sitting with European or International jury. There is great respect for certain values. There is great respect for artistic qualities. An international jury will not expect something to be beautiful necessarily or the values to be positive, sometimes negative values will be accepted. So I think that is the biggest difference. For myself, I'm happy to look for film which has different qualities, but it must be excellent. That's my real requirement."

Around 600 animation exhibitors from more than 70 countries and regions are expected to participate in the event.

As the biggest event dedicated to animation and cartoons in China, the festival is bringing together leading artists, industry insiders, university professors, and fans.

Back anchor

CRI's Zhang Wan reporting from Hangzhou.

Supreme People's Procuratorate urges bribery crackdown

China's Supreme People's Procuratorate is calling for a crack down on people who offer bribes.

Xiao Wei with the Supreme People's Procuratorate says they want to ensure that people who offer bribes, and not just those who accept them, are punished.

"Particularly, criminals who offer bribes will be seriously dealt with. This particularly applies to those who intentionally bribe officials with a large amount of money and for multiple times. This has a very bad effect on officials in the country."

At the same time, Chinese prosecutors are also suggesting more needs to be done to recover the money used in bribery.

Professor Liu Junhai with Renmin University says one of the ways to crack down on bribery is to get the general public more involved.

"The public, especially those who lost bids in projects, should be encouraged to speak up. Only in this way can a strong deterrence against bribery come into being in society."

The Chinese government has been involved in a massive crackdown on graft.

However, the focus has mostly been on officials who accept the bribes, rather than those who have offered them.

US Sneaker Maker New Balance Fined $16m for Trademark Breach in China

US sports shoe maker New Balance has been ordered to pay nearly 16 million U.S. dollars in a trademark rights dispute with a Chinese individual.

An individual from China has successfully sued the company for using the term "Xin Bai Lun" as the Chinese name for its products.

The complainant, surnamed Zhou, successfully registered the term "Bai Lun" and "Xin Bai Lun" as his own trademarks.

New Balance attempted to block his registration of "Xin Bai Lun" in 2012, but failed.

Dong Yidong, Zhou's lawyer, says New Balance attempt to block his trademark stopped his client from developing his own brand.

"The direct cause is that Zhou was rejected from running an online shop on Taobao in 2012. The reason was the brand name "Xin Bai Lun" had been applied for. The same situation has also happened in e-commerce portals, including Jingdong and Tmall. The obstacles have hindered Zhou's business development, and reduced the number of his stores."

On top of the 16-million US dollar payment, New Balance has also been ordered to post a clarification on its official website.

New Balance has not yet filed an appeal.

Weather

Beijing will be cloudy today with a high of 30 degrees Celsius.

Overnight temperatures should drop down to 16.

Shanghai will be cloudy with a high of 25 and a low of 16.

In Chongqing, it will be cloudy during the daytime with a high of 32 and lows of 20.

Elsewhere in the world, staying here in Asia,

Kathmandu, thunderstorms, 25.

Islamabad will be cloudy with a high of 28.

Kabul will be partly cloudy with a high of 22.

Over to North America,

New York will be cloudy with a high of 17 degrees.

Washington, thunderstorms with a high of 22 degrees.

Honolulu, cloudy, 28.

Toronto, Canada, will be cloudy with a high of 17 degrees.

Finally, on to South America,

Buenos Aires will have showers with a high of 23.

And Rio de Janeiro will see rainy with a high of 24 degrees Celsius.

Headline news

UN appeals for $415 mn to help Nepal quake victims

The United Nations has launched an appeal for 415-million US dollars in international assistance for Nepal.

It comes as initial assistance is just beginning to reach remote regions near the epicenter of Saturday's devastating earthquake.

Over 5 thousand people are now known to have been killed.

The UN says additional money is needed immediately to help cope with the half-million people still being forced to live outdoors.

Meanwhile, thousands of people have been lining up to board buses to try to leave the capital Kathmandu, amid fears of further aftershocks.

Over 3700 Chinese tourists evacuated from quake-hit Nepal

New stats show over 37-hundred Chinese nationals who had been stuck in Nepal following Saturday's earthquake have been evacuated over the last four days.

A number of Chinese airlines have been making additional flights in and out of Nepal to help assist with the evacuation process.

Swiss to return Taiwan ex-leader Chen Shui-bian's corrupt coffers

The Swiss Supreme Court has ruled that more than 6.7 million US dollars held in the name of relatives of former Taiwan leader Chen Shui-bian in Switzerland should be returned to Taiwan.

The money is thought to be connected to bribes Chen accepted for the merger of two financial firms.

Chen Shui-bian was sentenced to 20 years in jail for embezzlement, bribery and money laundering in 2010.

During the investigation, Swiss authorities froze accounts at 3 separate banks held in the names of Chen's son and daughter-in-law.

Authorities in Taiwan requested Switzerland return the money in 2013.

However, Chen's son and daughter-in-law had been fighting the release of the money through the Swiss courts.

Abe offers no apology over wartime past in U.S. Congress speech

Visiting Japanese Prime Minister Shinzo Abe has refused to issue a full apology for his country's wartime atrocities in a speech to a joint session of the US Congress.

He only stated he would "uphold" related statements made by his predecessors.

In the first ever speech to Congress by a Japanese premier, Abe expressed "deep repentance" over Japan's role in World War Two.

But he made no mention of the issue of the so-called "comfort women," who were forced into prostitution at Japanese military brothels in the war.

The speech was focused more on the future of the U.S.-Japan military alliance and a Pacific trade pact.

Hundreds of protesters gathered outside the Capitol Hill as Abe spoke.

WHO calls for urgent action to curb global antibiotic resistance trend

The World Health Organization is calling for critical action to prevent the misuse of antibiotics.

A new WHO report is suggesting the overuse of antibiotics is leading to a growing increase of antibiotic resistant viruses around the world.

The WHO is also warning public awareness of the issue remains low.

Medical studies show that pneumonia, tuberculosis, HIV and malaria are becoming harder to treat as a result.

Biz reports

Anchor

First, a quick look at the closing numbers across North America and Europe.

Joining me on the desk, Niu Honglin.

Reporter

U.S. markets ended lower on Tuesday as investors were left disappointed by weaker-than-expected GDP data for the first quarter, on top of uncommitted statements from the US Federal Reserve when it comes to interest rates.

An advance estimate from the US Commerce Department is putting US first quarter GDP growth at 0.2 percent, suggesting the economy has largely stalled through the first three months.

This will be a sharp slowdown from the fourth quarter's 2.2 percent pace.

It also misses the widely-held expectation of 1 percent growth through Q1.

Data also shows that personal consumption, which accounts for about 70 percent of the U.S. economy, grew 1.9 percent, compared with an increase of 4.4 percent in the previous quarter.

Exports also contracted 7.2 percent, compared to an increase of 4.5 percent in the fourth quarter.

The tepid data was also followed by the Federal Reserve's statement which says the U.S. economy slowed during the winter, a downgrade from an assessment of "moderated somewhat" in its previous statement.

At close,

Both the Dow and the S&P 500 ended down 0.4 percent.

The Nasdaq lost 0.6 percent.

Over in Europe,

The disappointing US GDP figures also came as an unpleasant surprise to investors in Europe.

At close,

The UK's FTSE 100 shed 1.2 percent.

Germany's DAX plunged 3.2 percent.

and France's CAC 40 retreating 3 percent.

China will subsidize on shale gas exploration

The Chinese government has announced its going to continue subsidize shale gas exploration for the next 3-years.

In making the announcement, the Ministry of Finance says a subsidy of 0.3 yuan will be offered for every cubic meter of shale gas developed by any company.

The new rate is down slightly from the 0.4 yuan subsidy provided during the last 3-years.

The Chinese government has been encouraging the exploration of shale gas in a move to promote the use of clean energy.

Sinopec, the country's largest oil refiner, now operates the country's biggest shale gas field in Chongqing.

The Fuling field has an annual output of close to 1 billion cubic meters, accounting for two-thirds of the total shale gas capacity in China.

Ministry announces huge cuts to subsidies for green cars

The Chinese government is moving to cut its subsidies for new energy cars.

The Ministry of Finance has announced it will cut its support for the purchase of new energy cars by 20 percent in 2017 and 2018.

It plans to further reduce the subsidies by 40-percent in the two years after that.

Subsidies for next year will be maintained at the current level.

In making the announcement, the Finance Ministry says it believes carmakers need to make the technology more affordable to survive, rather than being overly reliant on hefty subsidies.

The Chinese government's subsidy program for new-energy vehicles is going to end completely by 2020.

Call-in Chinese Official Denies Reported Plans for QE Program

Anchor

A leading official with China's central bank is rebuffing reports suggesting the PBOC is planning to implement a new quantitative easing program by buying local government debt.

Central Bank Research Bureau Chief Economist Ma Jun says there is no need for the central bank to buy new government debt directly, noting the central bank is also forbidden by law to provide funds directly to local governments.

This has to be done through the Ministry of Finance.

Ma Jun also suggests the PBOC still has a series of monetary and policy tools available to cope with economic downward pressure.

The central bank has been injecting liquidity into the market more aggressively since last year, including a pair of interest rate cuts since November.

For more on China's growth and the idea of a quantities easing program, we are joined on the line by CRI's financial commentator, Cao Can.

Talking points:

Q1: Where is the speculation of "China's QE"coming from?

Q2: How do you interpret the official's response to the speculation?

Q3: Do you think the current monetary and policy tools are powerful enough to cope with China's slowing economy?

Back anchor:

Cao Can, CRI's financial commentator.

CSCEC wins contract to build tallest skyscraper in East Africa

State-owned China State Construction Engineering Corporation has been awarded the contract to build the tallest skyscraper in East Africa.

The building will be home to the headquarters of the Commercial Bank of Ethiopia.

The 46-story building will reach a height of 198 meters.

The value of the contract has not been revealed.

China State Construction Engineering ranked 52nd among companies on last year's Global Fortune 500 list.

The company is the one who built the 492-meter tall Shanghai World Financial Center and the new CCTV office building in Beijing.

CCECC to build 2 railway lines in Zambia

China Civil Engineering Construction Corporation has been awarded a 2.7-billion dollar contract to build two railway lines in Zambia.

The project, a 760 kilometer long line, will begin next year.

It's expected to be finished in the next 5-years.

Sinopec first quarter profit down 85 percent

Sinopec has announced its net profits through the first-quarter have plunged some 85 percent year-on-year.

Sinopec is attributing both the slump in profits to plunging oil prices in the global market.

The company's total oil and gas output has dipped 1 percent in the first quarter.

Sinopec's earnings report comes on the heels PetroChina reporting an 82-percent drop in profits through the first quarter.

China's top air-conditioner maker profit jumps 23 percent in Q1

Gree Electric, China's largest maker of air-conditioners, is reporting a 23-percent jump of net profits through the first quarter of this year.

The Shenzhen-listed firm says its net profit hit some 2.8-billion yuan during the period.

Sports

Boxing: Floyd Mayweather, Manny Pacquiao Meet One Last Time Before Big Fight

Let's ring the bell with some boxing news:

With three days to go until their much-hyped mega fight, Manny Pacquiao and Floyd Mayweather came together in a final promotional news conference on Wednesday.

During the event, the undefeated Mayweather says he feels ready for what will be one of boxing's biggest bouts:

"You know it time to fight now. You guys came out here to see excitement. A great event and I think that's what both competitiors bring to the table. Excitement. The biggest fight in boxing history and I'm a part of it. I feel good and I feel strong."

Pacquiao says that he hopes his participation in such a huge event will inspire others to achieve their goals:

"I hope this fight is not only going to entertain people but give an inspiration to all the people around the world and that there is god who can raise someone from nothing into something."

The long awaited bout between Mayweather and Pacquiao, which has been more than five years in the making, will take place on Saturday Night.

A duel between the defence-minded Mayweather and the aggressive Pacquiao, the biggest drawcards of their generation which many hope will finally decide the mythical title of the world's best pound-for-pound fighter.

NBA Playoff Preview

In hoops action from the National Basketball Association Playoffs:

Game five of the Brooklyn Nets and the Atlanta Hawks is underway right now:

The series is tied at two games apiece, but Brooklyn has been bringing in their best performance against the Hawks this year, beating Atlanta in overtime to take game 3 and rallying back from eight points down in the fourth quarter to snatch game 4.

At 9:30 a.m., Beijing time:

The Memphis grizzlies will host the Portland Trailbazers for game five of their series. Portland need to win this game to stay in the post-season, since Memphis hold a 3-1 lead.

Football: Chelsea Now 1 Win Away from Premiership Title

In Football action:

Over in the English Premiere League:

Chelsea now stand just one win away from clinching the league title after beating Leicester 3-1.

The win puts them 13 points clear at the top of the standings; a victory on Sunday against Crystal Palace will give Chelsea their first EPL title since 2010.

In the German Bundesliga:

Wolfsburg routed third-tier Arminia 4-0 to make it into the DFB-Pokal final. The Wolves will meet Dortmund on May 30, who beat Bayern Munich in a shootout on Tuesday to secure the other spot in the final.

In the AFC Cup:

South China continued their perfect run at Mongkok Stadium on Wednesday night, routing Global FC of the Philippines 3-0 to underline their place at the summit of Group G with a maximum 15 points from their opening five fixtures.

In accion de La Liga:

Second-place Real Madrid shut out Almeria 3-0; the win keeps them hot on the heels of leaders Barcelona.

Celta Vigo defeated Malaga 1-0;

Sevilla beat Eibar 3-1;

Elche dumped Deportivo 4-0;

And Atletico Madrid edged Villareal 1-0.

Belgian Footballer in Critical Condition After On-Pitch Heart-Attack

In other football news;

Belgian footballer Gregory Mertens remains in critical condition after reportedly suffering a heart attack while playing for Sporting Lokeren reserves on Monday.

Gregory Mertens collapsed on the field 15 minutes into Sporting Lokeren's reserves game against Genk.

The 24-year-old was initially attended to by both the Lokeren and the Genk medical staff before being transported to hospital, where he remains in a medically induced coma.

Mertens began his senior career at Cercle Brugge in 2011 before moving to Lokeren during last January's winter transfer window.

Update of Action from ITTF Table Tennis Tournament

In table tennis action down at the ITTF Table Tennis World Championships in Suzhou:

Reigning champion and Olympic gold medallist Zhang Jike of China was hardly tested in his straight-game match against Seo Hyun Deok of South Korea in a second round match of the men's singles

In a major upset, European number-one and world number four Dimitrij Ovtcharov of Germany was beaten in seven games by South Korean Lee Sangsu.

Snooker: Ronnie O'Sullivan, Ding Junhui Out of World Championship

In snooker:

Ronnie O'Sullivan was handed a shock 13-9 defeat from Stuart Bingham in the quarter-finals of the World Snooker Championship in Sheffield, England.

And third-seed Chinese Ding Junhui was crushed by Englishman Judd Trump 13-4. Trump needed just one more frame to advance in the third session, and he did so off a break of 66.

Hockey: Tampa Bay and Detroit Hit Ice for Game 7 of Series

In the National Hockey League playoff match just getting underway:

The Detroit Redwings and the Tampa Bay Lighting are on ice for game seven:

Tampa Bay secured the last win in the back-and-forth series on Monday night, ruining Detroit's chances of a playoff berth by routing the Redwings 5-2.

The winner goes on to meet Montreal for the first game of the Eastern Conference semi-finals.

Entertainment

Red Amnesia to hit cinemas across China Today

The much awaited psych-thriller "Red Amnesia" will hit cinemas across China Today.

The film is directed by famous writer turned director Wang Xiaoshuai

Stage veteran Lv Zhong, who plays the lead role has already won the best actress award at the Asia Pacific Screen Awards late last year for her performance in the movie.

Lv Zhong says it was challenging to play the role of a stubborn elderly widow with a split personality.

"She is busy, hard-working, and takes care of her sons' daily life. She regularly visits her elder son's flat to cook meals and does the same with her younger son. She's been keeping her two sons at the center of all her life. And as she's young, she had inflicted harm on others forgetting any consideration of interests beyond her own kids'".

Popular mainland singer and songwriter Laure Shang Wenjie has penned the theme song for the movie.

First 'Dragon Ball' Anime in 18 Years to Premiere in July

The popular manga and television franchise Dragon Ball has been revived for its first anime series in 18 years.

Dragon Ball Super, will air in Japan this July.

This will be the first Dragon Ball series since Dragon Ball GT, which aired in the mid 90's.

Set in the aftermath of Goku's defeat of the evil Majin Buu, Dragon Ball Super tells the story of Goku trying to maintain the world's newfound, but fragile, peace.

Akira Toriyama is listed as not only the original creator, but as the man in charge of the storyline and character concepts for the new Super series.

Kimitoshi Chioka, from Toei Animation, is the series director.

Since it first appeared in 1984, the Dragon Ball series has become a cultural force and has gone on to spawn not only three animated series, but also video games and numerous films and TV specials.

Justin Bieber Joins 'Zoolander 2′

Justin Bieber is joining Ben Stiller's "Zoolander 2″ in an unspecified role, according to Bieber's latestest Twitter post.

Bieber will be joining a cast that includes Stiller, Owen Wilson, Will Ferrell and Penelope Cruz.

Stiller and Wilson announced the film's release date at the Paris Fashion Week in March.

The sequel is written by Stiller and Justin Theroux, with Stiller set to direct.

Stiller noted that the original film grossed 46 million dollars in the US and a "whopping" $15 million internationally in 2001. And he promised that the sequel will be bigger.

"Zoolander 2″ is expected to open on February 16, next year.

'Kingsman: The Secret Service' Sequel in Works at Fox

A sequel to the surprise blockbuster "Kingsman: The Secret Service" is in the works at Fox.

The blockbuster film directed by Matthew Vaughn and starring Colin Firth just topped 400 million US dollars at the global box office.

Samuel Jackson, Michael Caine and Taron Egerton co-starred in "Kingsma," which had an 80 million dollar production budget.

Vaughn also co-wrote with screenplay with Jane Goldman and produced the film, which was based on the comic book "The Secret Service" written by Mark Millar and Dave Gibbons.

Alabama Shakes rock their way to top of Billboard 200

Southern rockers Alabama Shakes has scored their first chart-topping album on the weekly U.S. Billboard 200 chart on Wednesday.

"Sound & Color," the second album by the band, sold 91,000 copies and was streamed 3.6 million times online.

The album's success comes after the band was one of the standouts from the annual Coachella 3-day music festival in Southern California earlier this month.

The soundtrack to Universal Pictures' April blockbuster "Furious 7" held its spot at No. 2, while rapper Yelawolf's new album "Love Story" debuted at No. 3.

No other new entries cracked into the top ten of the Billboard 200 chart this week, and last week's chart-topper, Shawn Mendes' "Handwritten," has dropped to No. 17.

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

A quick look at the headlines before we go...

The United Nations has put out an appeal of over 400-million US dollars for assistance for quake-ravaged Nepal.

The Chinese government is warning the US not to include the Diaoyu Islands in its defense policies with Japan.

China's State Council outlines new tax reductions for consumer goods.

In Business.... Chinese authorities have announced their subsidy program for shale-gas exploration is going to be extended.

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.