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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.

BEIJING, May 26 (Xinhua) -- Top Chinese legislator Wu Bangguo said here on Wednesday China highly values its relations with Europe, vowing to further promote China-EU comprehensive strategic partnership.Wu, chairman of the National People's Congress (NPC) Standing Committee, made the remarks in his meetings with European Parliament President Jerzy Buzek, and a group of European party leaders who were here for the first-ever China-Europe High-Level Political Party Forum.Wu hailed the progress of China-Europe ties over the years, citing enhanced political trust, fruitful cooperation, close coordination in global and regional affairs and the establishment of an annual summit mechanism and all-round strategic partnership.China attaches great importance to developing ties with Europe, and considers China-Europe relations a priority in China's foreign policies, he told Buzek.Buzek said China plays an increasingly important role at the global stage. The European Union highly values China's position, and he hopes to strengthen dialogues and cooperation between the European Parliament and the NPC to boost all-round relationship, Buzek added.In a meeting with European party leaders, Wu reiterated that the CPC is ready to strengthen friendly exchanges with various parties of Europe to boost bilateral all-round strategic partnership.

XIAMEN, Fujian, June 6 (Xinhua) -- Two foreigners were killed and another injured in an aggravated debt dispute Saturday night in the coastal city of Xiamen in east China's Fujian Province, local police said.The dead included a woman from Venezuela and a man whose nationality was not unknown yet.The other foreigner, who was a suspect as the police said, was hospitalized for injuries. His nationality was not confirmed either.The police did not reveal if there were other people involved in the case.Initial investigation showed the homicide was triggered by a debt dispute. One dagger had been found on the scene, near the Marco Polo Hotel on Jianye Road.It was unclear when the homicide happened, but local police said they received a report about it at 9:52 p.m.Local police were still investigating the case.

HELSINKI, March 26 (Xinhua) -- Visiting Chinese Vice-President Xi Jinping on Friday held talks here with Finnish President Tarja Halonen on efforts to further cooperative relations.Xi conveyed greetings from Chinese President Hu Jintao to the Finnish president and said his visit aimed to boost bilateral ties to a new high on the basis of achievements made since diplomatic relations were established 60 years ago.Xi said Finland was one of the first Western countries that established diplomatic ties with the People's Republic of China, adding that the development of the relations was won by the hard work of several generations of leaders from both sides.  Chinese Vice President Xi Jinping (R) holds talks with Finnish President Tarja Halonen in Helsinki, Finland, March 26, 2010He said bilateral ties have weathered various tests and enjoy stable development because the two sides stick to principles including equality, mutual benefit, mutual respect and non-interference in each other's internal affairs, and respect each other's core interests and major concerns.

BEIJING, April 29 (Xinhua) -- China's parliament on Thursday adopted a revision to the Law on Guarding State Secrets which narrowed the definition of "state secrets," in an effort to boost transparency.The amended law was approved by lawmakers at the end of the four-day bimonthly session of the National People's Congress (NPC) Standing Committee, or the top legislature, after three reviews, the first of which began last June.State secrets have a clearer definition in the amended law. They are defined as information concerning state security and interests and, if leaked, would damage state security and interests in the areas of politics, economy and national defense, among others.It also raises the level of government departments that can classify information a state secret.The National Administration for the Protection of State Secrets and local bureaus above the county level are responsible for national and local classification, respectively.Prof. Wang Xixin at Peking University Law School said the number of state secrets will decline as fewer levels of government departments have the power to classify information as a state secret."It will help boost government transparency," Wang said.Local officials often use the excuse "state secrets" to avoid answering inquiries from the public properly.After the amended law takes effect in October, governments under the county level will have to respond to public questioning with more openness and without the power to classify information as a state secret, Wang said.According to the amended law, there will be more complicated but standardized procedures to classify information a state secret which will eliminate "random classification."The amended law also grants more responsibility to classification departments and units, which will be penalized if they do not properly classify information.It also defines secrecy levels and authority limits, and clarifies time limits for differing levels of confidentiality and conditions for declassification.It says the time limit for keeping top-level secrets should be no more than 30 years; no more than 20 years for low-level state secrets; and at most 10 years for ordinary state secrets.Wang said reducing the number of state secrets will improve state secrets protection, as "the protection work would be difficult if there are many state secrets, and more manpower and resources would be used.""The more state secrets, the 'number' the public will be," he said.He said the revision to the law also enhances China's image on the international stage, as the country should narrow the gamut of state secret as it conducts increased international exchange.The call to amend the state secrets law strengthened when the State Council issued a regulation on government transparency in May 2008 which said "a broad definition for state secrets" is not in line with the public's right to know.INTERNET LEAKSThe rapid development of the Internet poses great challenges to the protection of state secrets, with Internet leaks of confidential information frequently occurring, observers say.The amended law requires Internet operators and other public information network service providers to cooperate with public and state security departments and prosecutors in probes of state secret leaks.Prof. Wang said, "Such stipulations are necessary," as fast information transmission can easily cause leaks of state secrets and many countries have similar requirements on network operators."If a sensitive photo is put online, people see it and they may obtain state secrets from it. That's very simple. But people cannot judge whether it is a state secret or not. They may take for granted the information has already been released by the government," he said."Information transmissions must be immediately stopped if they are found to contain state secrets, and once a leak has been discovered, records should be kept and it must be reported to the public security and state security departments in charge of confidentiality."The information relating to state secrets should be removed according to orders of relative departments," the amendment says.Wang said efforts must be made to ensure such clauses are not abused by authorities to invade citizens' privacy.He added more specific measures should be enacted to implement the rules."It should be carried out without harming the openness of the Internet," he said.