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BEIJING, Dec. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

UNITED NATIONS, Jan. 18 (Xinhua) -- China welcomes the smooth completion of the referendum in south Sudan, which is "an important step" towards the full implementation of the Comprehensive Peaceful Agreement, a senior Chinese diplomat said here on Tuesday. Addressing an open debate on the situation of Sudan in the Security Council, China's deputy permanent representative to the UN Wang Min said that the referendum in south Sudan is not an end in itself in implementing the CPA, instead, realizing sustainable peace, stability and development in Sudan is the final purpose. "No matter what the outcome of the referendum is, it is imperative to ensure the long-term peace and stability in Sudan and the region at large," said Wang. Wang noted that China hoped to see the north and south Sudan would continue to conduct dialogue and consultations, so as to reach an earlier agreement on such issues as the status of Abyei, wealth sharing and border demarcation, lying down a foundation for further promoting the north-south peace process. On Saturday, South Sudan referendum polling centers closed. The referendum will determine whether south Sudan remains a part of Sudan or becomes independent, in accordance with the 2005 CPA that ended a long-running north-south civil war. In order to assist Sudan in the referendum, China has donated to the Southern Sudan Referendum Commission 500,000 U.S. dollars in cash and provided its bureau with support in kind. China has also sent a group of observers to Sudan. Wang reiterated China's willingness to "work together with the international community and the parties concerned to continue to play an active and constructive role in promoting the long-term peace, stability and development of Sudan." Concerning the situation in Darfur region, Wang said that China supports a peaceful and comprehensive settlement to the Darfur issue, in particular the tackling of the root causes for the issue. "At present, the security situation in Darfur is very fragile, and humanitarian assistance is faced with many difficulties, " said Wang, "the root cause is the lack of a strong and widely supported political agreement in Darfur." China called on the Security Council and international community to strengthen support for political process in Darfur and urged the Darfur rebel groups to join the peace talks without conditions and delay, said Wang.

BEIJING, Nov. 20 (Xinhua) -- China Petroleum and Chemical Corporation (Sinopec), China's largest oil refiner, said Friday it has suspended diesel exports to relieve shortages in the domestic market.Sinopec also said it is seeking to import 200,000 tonnes of diesel.PetroChina Co., China's largest oil producer, plans to import 200,000 tonnes of diesel. Some 35,000 tonnes of it has already arrived.Insiders said China's diesel output in the first nine months soared, prompting the two oil giants to expand exports.Sinopec attributed recent hikes in the domestic price of diesel to hoarding, seasonal factors, transport factors and energy-saving measures."The fundamental reason for the diesel shortage is the industry monopoly. Oil refiners are not keen to increase production because profit margins in the sector are relatively low," said Qi Fang, director of the Hebei Provincial Petroleum Industry Chamber of Commerce."The two oil giants operate on a planned-economy basis, resulting in an unbalanced supply-and-demand situation. Supply and demand can easily outstrip each other as government planning cannot keep pace with changes in the market," Qi said.Statistics from the General Administration of Customs show China exported 360,000 tonnes of diesel in October - only slightly lower than the 368,100 tonnes it exported in September - even as diesel shortages worsened.Diesel imports in October rose to 400,000 tonnes, up from 250,000 tonnes in September.

BEIJING, Dec. 15 (Xinhua) -- A senior leader of the Communist Party of China (CPC) Wednesday called upon Chinese people to stick to their hardworking spirit and devote themselves to their careers.Li Changchun, member of the Standing Committee of the CPC Central Committee Political Bureau, made the remarks after meeting with Jiang Hangang, a Chinese peacekeeping army officer.Though suffering from gastric cancer, Jiang, head of an engineering corps of the Beijing Military Area Command, led other soldiers and officers and successfully finished all tasks while in Liberia in 2008 for peacekeeping duties.Li Changchun (5th L, front), a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, poses for group photos with members of a report group, which held a meeting on Jiang Hangang (4th L, front)'s outstanding deeds, at the Great Hall of the People in Beijing, China, Dec. 15, 2010. Jiang won high praise from the Liberian government and officials of the United Nations."Jiang is the outstanding model for our country's peacekeeping troops... His exemplary stories reflect the excellent qualities and noble morality of today's soldiers and officers," Li said.Li urged all Chinese people to learn from Jiang's strong belief, hardworking spirit and the devotion to his career.

WASHINGTON, Jan. 19 (Xinhua) -- Chinese President Hu Jintao said here Wednesday that important consensus was reached during his talks with U.S. President Barack Obama."We had an in-depth exchange of views and reached important agreement on China-U.S. relations and major international and regional issues of shared interest," President Hu told a joint press conference with Obama following their meeting.The Chinese leader said both sides "agree to further push forward the positive, cooperative and comprehensive U.S.-China relationship and commit to work together to build a China-U.S. cooperative partnership based on mutual respect and mutual benefit so as to better benefit people in our own countries and the world over."Chinese President Hu Jintao and U.S. President Barack Obama attend a joint press conference at the White House in Washington, the United States, Jan. 19, 2011.Both sides also agreed to strengthen exchanges and cooperation in economy and trade, energy and environment, science and technology, infrastructure construction, culture and education, counter-terrorism, non-proliferation, law enforcement and other areas so as to achieve mutual benefit, according to the Chinese president.Saying his talks with Obama were conducted "under candid, pragmatic and constructive atmosphere," Hu said China appreciates Obama's commitment to a positive and constructive China policy, and to stable and growing China-U.S. relations since he took office two years ago.Hu noted that China and the United States share expanding common interests and shoulder increasing common responsibilities, and voiced support for expanding military exchanges between the two sides."We believe expansion of military exchanges and cooperation will be conducive to deepening mutual trust between our two countries," Hu said.While stressing that China-U.S. cooperation has great significance for the two countries and for the world, the Chinese leader said the two sides "should firmly adhere to the right direction of our relationship; respect each other's sovereignty, territorial integrity and development interests; promote the long-term sound and steady growth of China-U.S. relations and make even greater contributions to maintaining and promoting world peace and development."During President Hu's state visit, the two countries had signed a number of cooperation agreements. "These will inject fresh momentum into our bilateral cooperation and create a great many job opportunities for our two countries," Hu said.On the situation on the Korean Peninsula, he said both countries agreed to work together with relevant parties to maintain peace and stability on the peninsula, promote denuclearization of the peninsula and achieve lasting peace and security in Northeast Asia.The Chinese leader reaffirmed China's firm commitment to the path of peaceful development and a win-win strategy of opening up."China is a friend and partner of all countries, and China's development is an opportunity for the world," he said.Meanwhile, Hu said he and Obama discussed some disagreements in the economic and trade area, with both sides pledging "to continue to appropriately resolve these according to the principle of mutual respect and consultation on an equal footing."Addressing the same press conference, Obama said cooperation between the two countries is good for the two sides and for the whole world."Along with our G-20 partners, we've moved from the brink of catastrophe to the beginning of global economic recovery," he said.Noting China is one of the top markets for American exports, Obama said the annual U.S. exports to China in goods and services support "more than half a million American jobs."He praised China's extraordinary economic growth that "has lifted hundreds of millions of people out of poverty. "This is a tribute to the Chinese people," he added.The U.S. leader also expressed his satisfaction with the reaching of dozens of deals between the two sides that will increase U.S. exports "by more than 45 billion U.S. dollars."Hu, who unfurled his first state visit to the United States Tuesday since Obama took office in 2009, just concluded his eighth meeting with Obama before the press conference.Before the talks, a grand welcome ceremony for President Hu was held at the White House.Hu said at the ceremony that his visit is aimed at increasing mutual trust, enhancing friendship, deepening cooperation and pushing forward the positive, cooperative and comprehensive China-U.S. relationship for the 21st century.

来源：资阳报