China's reaction to U.S. elections

Overall, the Chinese government had a relatively calm and even reaction to the results of the U.S. presidential election. Although, some leaders are somewhat concerned that President-elect Obama will challenge China with tougher trade policy regulations. This could be why, among Chinese citizens and youth, Obama's victory was far more celebrated than among government officials. Stricter trade regulations would translate to more benefit for common workers than it would for people higher up in the economic and political realms.
But most Chinese, even leaders are not concerned that Obama's policies will negatively impact them economically. They are probably aware of the intimate connection their economy shares with that of the U.S., which means that neither can really risk to do anything that would substantially offset the other.

(Source: No Strong Reactions from China's Leaders, Washington Wire)