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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.

COPENHAGEN, May 28 (Xinhua) -- Danish Deputy Prime Minister and Foreign Minister Lene Espersen met here Friday with visiting Vice Chairman of the Chinese National People's Congress Standing Committee Hua Jianmin.Espersen congratulated China on its successful opening of the 2010 World Expo in Shanghai. She said Denmark has fully supported the expo by sending its national treasure Little Mermaid."I hope the Chinese audience will learn more about the Danish culture and the economic and social development of Denmark," Espersen said.The minister praised the Chinese people's hard working and entrepreneurial spirit, and lauded the miracle of China's economic development.Espersen said China and Denmark are important trading partners, not least due to the fact that there are more than 400 Danish enterprises investing in China."Denmark greatly appreciates that China recently sent a trade and investment mission to visit Denmark, and Denmark more than welcomes Chinese corporations to invest in Denmark," Espersen said.Hua, for his part, said bilateral relations have matured over the past 60 years. He said the two sides have sought a common ground on the basis of friendly cooperation.Hua noted that the bilateral comprehensive strategic partnership established in 2008 has offered new opportunity for further development of the Sino-Danish relationship.He also mentioned the increased cultural exchanges between China and Denmark, citing the establishment of a Confucius Institute in Denmark.

BEIJING, May 19 (Xinhua) -- The Chinese government has given priority to the rebuilding and repairing of residential houses during post-quake reconstruction in northwestern Yushu.A 7.1-magnitude earthquake struck Yushu Tibetan Autonomous Prefecture in northwest China's Qinghai Province on April 14, leaving at least 2,200 dead."Houses that are repaired must be repaired in a timely manner. For those that are to be rebuilt, residents' wishes regarding house style must be respected," the statement released after a regular State Council meeting on Wednesday said.The statement noted the difficulties the reconstruction work faces: cold weather, low oxygen-levels, a fragile ecosystem, and inadequate construction resources.According to the statement, the country plans to spend three years finishing the "main reconstruction task."The government vowed to build the "safest and most stable" schools and hospitals in the quake zone while protecting local ethnic and religious cultural heritage.

BEIJING, April 1 (Xinhua) -- Chinese Premier Wen Jiabao has pledged to further reform of income distribution to narrow the gap between rich and poor and secure social stability.In an article published Thursday in Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, Wen said greater efforts were needed to build a rational income distribution structure."If the income gap continues to widen, it will pose a major threat to our economic development and social stability," Wen wrote. "We are poised and capable of gradually resolving this problem with a sound momentum of economic and social development and greater sustainability in various fields."Complaints have been growing about how the income growth of many Chinese was lagging behind the rise in state fiscal revenue. Low incomes have been blamed for dragging down consumer spending."We will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system," Wen wrote.

BEIJING, May 31 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday called for the proper handling of the serious consequences of the March sinking of a South Korean warship, and efforts to gradually ease tensions in the region over the incident."The pressing task for the moment is to properly handle the serious impact caused by the Cheonan incident, defuse tensions in the region, and most importantly of all, avoid possible conflicts," Wen said.Wen was speaking at a joint press conference following a two-day summit meeting with South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama on the South Korean resort island.Chinese Premier Wen Jiabao attends the second phase of the third trilateral summit in South Korea's southern resort island of Jeju on May 30, 2010. Chinese Premier Wen Jiabao, South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama met in the trilateral summit with the aim of mapping out future cooperation in East Asia.Wen urged the Northeast Asian nations to help maintain regional peace and stability."We must spare no effort to promote peace and stability in Northeast Asia. Short of this precondition, development will be out of the question, and the hard-won achievements will be lost again," he stressed."China will continue to enhance communication with relevant parties (over the Cheonan incident) in order to steer the situation toward a direction which is conducive to peace and stability in Northeast Asia. This is in our best common and long-term interests," Wen said.As the region is facing many new challenges, China, Japan and South Korea should strengthen coordination between them, appropriately deal with sensitive issues and increase mutual political trust, Wen said.