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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.

BEIJING, Jan. 12 (Xinhua) -- U.S. Ambassador to China Jon Huntsman on Wednesday said Chinese President Hu Jintao's state visit to Washington later this month will be "exciting and historic.""State visit is the highest level of welcome that is accorded to a foreign head of state. Hu's state visit is a very exiting and historic time in U.S.-China relationship," Huntsman told a press briefing on Wednesday.Hu will pay a state visit to the United States from Jan.18 to 21 at the invitation of U.S. President Barack Obama."It is the first time that the two heads of state meet when they represent the two largest economies...Their influence is derived from the world, not form a region," Huntsman said.The ambassador said it was noteworthy that over the years Obama and Hu had met 7 times and developed a "friendly, cordial and confident" relationship.He hailed efforts on both sides to build a positive, cooperative and comprehensive U.S.-China relationship, citing the high-level meetings like Strategic and Economic Dialogue, Joint Commission on Commerce and Trade as well as some cabinet-level visits like Defense Secretary Robert Gates' just concluded trip to Beijing.In a relationship that is as mature, direct and candid as U.S.-China relationship, there will inevitably be some areas of disagreements, Huntsman said."Divergences are largely outweighed by areas of convergences," he said.Ambassador said the United States and China would increasingly find common ground."As both countries are on the world stage, they will see a similar level of responsibility in terms of problems and deal realistically with the issues that confront the world, ranging from Iran nuclear issues and Korean Peninsula tensions to economic rebalance and climate change," Huntsman said.

BEIJING, Dec. 29 (Xinhua) -- Senior Communist Party of China (CPC) official Li Changchun has called for Chinese people to take a serious attitude to their work, while praising the accomplishments of a renown train driver.Li, a Standing Committee member of the Political Bureau of the CPC Central Committee, made the remarks Wednesday after meeting with Li Dongxiao, a veteran train driver.Li Dongxiao, who has worked in the railway sector for 22 years, is widely known as China's first high-speed train driver, and the man who trained the country's first team of high-speed train drivers.Li Dongxiao, 40, also helped to write a high-speed rail driving manual."It took China five years to achieve what other countries had only acheived after decades of hardwork, and generations of railway staff had worked diligently to realize the goal... Li Dongxiao is an outstanding representative for them," Li Changchun said.Li Changchun said Chinese people should learn from Li Dongxiao's belief in serving the country and its people, and his hardworking and innovative spirit.

BEIJING, Jan. 19 (Xinhua) -- The presidium of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee held a meeting Wednesday, preparing for the upcoming Fourth Plenary Session of the 11th CPPCC National Committee, scheduled to open on March 3.The meeting was presided over by Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 34th meeting of chairpersons of the 11th CPPCC National Committee in Beijing, capital of China, Jan. 19, 2011.The meeting examined and approved the draft agenda for the Fourth Plenary Session of the 11th CPPCC National Committee.