By Emma Graham-Harrison

BEIJING, Nov 5 (Reuters) - China welcomed Barack Obama as a youthful president-elect with the energy to tackle the financial crisis now threatening their economy and an ethnic heritage that could help America reach out to the rest of the world.

Excitement about the billion dollar race filtered down to the streets of Beijing on Wednesday, where ordinary Chinese citizens who have never voted themselves and some who could not even name the candidates embraced Obama's message of change.

"The black guy is a good choice, he has so much more energy than the other one, who was far too old," said Han Xue, a new father who runs a small cigarette and alcohol store.

"Really I never thought a black man could become president."

But gathering economic storm clouds, which threaten to undermine decades of rapid growth, made the economic stance of the next leader of the United States as much of a priority abroad as it was to domestic voters.

"Most Chinese like Obama because we consider ourselves allied with the Third World. But Obama may be more ideological and that could be less good for China in terms of trade," said Wang Hongtao, studying for a doctorate at the Central Party School in Beijing, and following the results at an embassy election party.

Belt-tightening by U.S. consumers as their economy flounders has hit Chinese exporters in the "factory of the world" hard, even though strict controls have protected its banks from the worst of the financial tsunami rocking foreign competitors.

"Officials say there is no impact, but you only have to look around to see that the crisis is already affecting us," said retiree and firm Obama supporter Yu Ze, during a break from a ping-pong game in a Beijing park.

"Its better to have a young person with the energy to handle this. We are a little worried about his position on trade issues, but we think his vice-president really understands China."

Obama's running mate, Joe Biden, is a foreign policy veteran, chosen partly for his years of experience.

The outgoing administration is less unpopular in China than many other parts of the world, where despite squabbles over trade and currency it is seen by many as having a generally positive approach to ties across the Pacific.

"Actually Bush's presidency was quite good for China in many ways," said street cleaning supervisor Wang Erxiao, adding he would have been happy to see Republican candidate John McCain continue his party's legacy.

But in a country where getting involved in politics has long been a recipe for trouble, some ordinary Chinese were steering well clear even of a vote taking place thousands of miles away.

"Politics gives me a headache. I stick to entertainment shows on my radio," said taxi driver Li Hong with a grin. (Additional reporting by Lucy Hornby; Editing by Nick Macfie and Bill Tarrant)

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