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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 28 (Xinhua) -- Visiting Indian President Pratibha Patil and Chinese Vice President Xi Jinping Friday in Beijing attended a reception to mark the 60th anniversary of the establishment of bilateral ties.In a speech at the reception, Xi said China-India relations had gone beyond their bilateral scope to have global significance as the Asian neighbors both emerged as major players in the developing world."A review of China-India relations over the past 60 years tells us that good-neighborly friendship and mutual beneficial cooperation has always been the mainstream of our relationship," Xi said.Chinese Vice President Xi Jinping (R) attends the Reception to Mark the 60th Anniversary of the Establishment of Diplomatic Relations between China and India with Indian President Pratibha Patil in Beijing, May 28, 2010. He called on both sides to further increase understanding and trust, enhance strategic cooperation and promote sustainable development of bilateral ties.China and India should be partners rather than rivals because the two countries face similar challenges while having common interests on broad issues, he told some 400 delegates from both countries.

BOAO, Hainan, April 10 (Xinhua) -- Chinese Vice President Xi Jinping said Saturday that the mainland is willing to see the ongoing negotiations of the Economic Cooperation Framework Agreement (ECFA) with Taiwan "smoothly proceed without disturbance so as to achieve results and produce economic benefit soon."Xi made the remarks when meeting with Fredrick Chien, chief advisor of Taiwan's Cross-Straits Common Market Foundation, on the sidelines of the annual meeting of the Boao Forum for Asia in southern province of Hainan.The long-awaited cross-Strait economic pact, with aims to normalize mainland-Taiwan economic ties and bring the two economies closer, is hoped to be signed by the end of June.Chinese Vice President Xi Jinping (R) meets with Fredrick Chien, chief advisor ofTaiwan's Cross-Straits Common Market Foundation in Hainan, on April 10, 2010.Xi said how to further enhance economic cooperation remains a priority of the current cross-Strait relations.Both the mainland and Taiwan has been on the way of economic recovery, he said, adding the cross-Strait economic exchanges are entering a new development stage.He called on the two sides to constantly enrich the content of cooperation, expand cooperation areas, innovate ways of cooperation and improve the level of cooperation to further benefit people on both sides.The past year saw a series of positive progress and breakthroughs in cross-Strait relations, and both sides should value the hard-won situation and continue to improve it, Xi said.He said the mainland and Taiwan should actively promote cooperation of "new-type industries," expand two-way investment and strengthen exchanges of the financial services sector, among others, in order to enhance common economic development on both sides."We always believe that people in the mainland and Taiwan are both the Chinese and the economy of both sides belongs to the Chinese economy, though the two sides have gone through different development paths over the past six decades," he said.The cross-Strait economic cooperation advocated by the mainland is conducive to common prosperity and can help safeguard and expand the Chinese nation's interests, he said.Recognizing that the mainland and Taiwan belong to one China is a fundamental foundation for the peaceful development of cross-Strait relations, Xi said.He added that striving to realize the rejuvenation of the Chinese nation should be the mainstream of cross-Strait relationship development."As long as the two sides consider themselves as one family, it will be easy to discuss anything and any problem could be eventually resolved," Xi said.Chien said the two sides should strengthen cooperation, particularly in green industry and financial service sector, for common development.The two sides should work hard to ensure the signing of the ECFA as early as possible, he said.The mainland and Taiwan concluded the second round of expert-level talks on the ECFA on April 1.Formal discussions on the ECFA will also be a highlight at a new round of talks between the mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan-based Straits Exchange Foundation (SEF), which is scheduled in the first half of 2010.

BEIJING, April 29 (Xinhua) -- Top Chinese legislator Wu Bangguo met with French President Nicolas Sarkozy in Beijing Thursday, pledging more parliamentary exchanges in a bid to facilitate bilateral ties.Wu, chairman of the Standing Committee of the National People' s Congress (NPC), said a healthy and stable China-France relationship is in accordance with the interests of both countries.China will work closely with France in the spirit of equality and mutual respect to push forward an all-round strategic partnership, Wu added.Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, meets with French President Nicolas Sarkozy at the Great Hall of the People in Beijing, capital of China, April 29, 2010.Wu said the NPC will work with the French side to improve parliamentary exchange mechanisms.The NPC will also increase dialogue and communication with the French side to serve bilateral ties, Wu added.Wu also briefed Sarkozy on China's reform of its political system, its construction of democracy and its legal system.

BOAO, Hainan, April 10 (Xinhua) -- The Boao Forum for Asia (BFA) Annual Conference 2010 officially opened Saturday morning in Boao in south China's Hainan Province, with a focus on Asia's sustainable recovery from the economic downturn.Chinese Vice President Xi Jinping attends the opening ceremony and will soon deliver a keynote speech.Long Yongtu, BFA's secretary-general, said the world economy still faces huge challenges despite strong signs of recovery. Delegates attend the opening plenary of Boao Forum for Asia(BFA)Annual Conference 2010 in Boao,a scenic town in south China's Hainan Province,April 10 0,2010.The BFA Annual Conference 2010 with the theme"Green Recovery:Asia's Realistic Choice for Sustainable Growth h"officially opened here Saturday.The biggest challenge is to ensure quality, efficient and green growth rather than to have only strong economic data, Long said at the opening ceremony.Fidel Ramos, former Filipino president and chairman of BFA's board of directors, said all Asian nations should explore different ways on the way to recovery to ensure sustainable growth.