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BEIJING, May 6 (Xinhua) -- Malta President George Abela missed the spectacular opening ceremony of the World Expo in Shanghai because of a leg injury, but he felt something that he said he would remember forever during the special Chinese tour.In the morning of April 30, twelve hours before the opening ceremony of the World Expo, Abela's leg was hurt in an accident. The head of the Mediterranean state was rushed to the city's best Ruijin Hospital."I will not meet with President Hu Jintao on a wheelchair," said Malta President George Abela lying on a hospital bed in Shanghai, striving to stand up, but failed.Absent from the opening session held beside the Huangpu River that evening, Abela, who was supposed to be there, watched in his ward the live TV show of those magnificent dancing, singing and splendid fireworks."I'm not there, but I can feel as the Chinese do," Abela was quoted by a Chinese diplomat as saying.President Hu, upon his knowledge of the accident, immediately instructed senior officials of the Chinese Foreign Ministry to visit Abela in hospital.On May 1, Hu met with six foreign leaders who came to the Chinese economic hub for the first World Expo in a developing country. He repeatedly asked about Abela's situation during the short breaks.Finishing all the meetings, Hu rushed to Abela's ward, and the two presidents' hands held tight."I know that today you are very busy and your coming impressed me very much," Abela said, noting such a meeting indicated the friendship and mutual respect between China and Malta."I was sorry to hear you got hurt yesterday," Hu told Abela, asking his counterpart to be relieved and pledged the best medicare."You sent a letter of condolence to us after the earthquake in Yushu of Qinghai Province, and you came here for the Expo after such a long journey.Now I would like to express my sincere appreciation to you," Hu said.As the Malta delegation failed to find a charter plane to take home their president, Hu decided to send a special plane for the task."I will remember forever the friendship with Chinese, as well as President Hu and his wife," Abela told senior officials of the Chinese Foreign Ministry and the Shanghai government at the Hongqiao Airport before leaving.The plane took off at 8:55 a.m., May 3 and landed on 4 p.m. local time at the Malta International Airport, where Abela, accompanied by a Chinese medical group, was received by his colleagues and Chinese ambassador Zhang Keyuan."I, on behalf of all the Malta people, invite all the friendly Chinese people to visit my country," Abela, still on a hospital bed, told the medical group who were backing China.

BEIJING, May 23 (Xinhua) -- Chinese Vice Premier Wang Qishan Sunday met with U.S. Federal Reserve Chairman Ben Bernanke, who was in Beijing for the second round of the China-U.S. Strategic and Economic Dialogue (S&ED).They exchanged views on issues including global economy and finance, and the reform on financial supervision system.Wang and State Councilor Dai Bingguo, as Chinese President Hu Jintao's special representatives, will co-chair the dialogue on May 24-25 with U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, who are President Barack Obama's special representatives.   Chinese Vice Premier Wang Qishan (R) meets with U.S. Federal Reserve Chairman Ben Bernanke in Beijing, capital of China, May 23, 2010.

BEIJING, April 2 (Xinhua) -- China needs to expand the Renminbi, or yuan, cross-border settlement efforts when conditions allow, the People's Bank of China (PBOC) said Friday."It is necessary for China to seek appropriate timing to expand the cross-border yuan settlement to more cities, enterprises and overseas pilot areas," said an international financial market report released on the central bank's website Friday.But the report did not detail the conditions for appropriate timing.The foreign trade volume settled in yuan is still small compared with China's total foreign trade volume, said the report, without specifying figures.Official figures from China's General Administration of Customs showed that the country's exports in 2009 stood at 1.2 trillion U.S. dollars, down 16 percent from 2008.China's State Council, or Cabinet, announced in April 2009 a pilot program to allow exporters and importers in five cities -- Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan -- to settle cross-border trade deals in yuan.The latter four cities are all in south China's Guangdong Province.The Bank of China (BOC), China's largest foreign exchange bank, announced on July 6 last year that its Shanghai branch had received the first cross-border yuan trade settlement deal from the BOC (Hong Kong).The government is considering enlarging the scope of cross-border yuan settlement from commodity trade into service trade, said the report.Yuan settlement was in accordance with the market demand, said Cao Honghui, a researcher with the Chinese Academy of Social Sciences, but increasing the yuan's global acceptance would be decided by factors such as the country's economic development and the financial system development.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.