China's national newspaper, The People's Daily, told its readers for the first time today of a lively wallposter campaign in Peking but said protests should not threaten stability and unity.

The newspaper printed several quotes from Communist Party Vice Chairman Teng Hsiao-ping emphasizing economic modernization that were released by the official New China News Agency Sunday and yesterday.

Peking wallposters have demanded the removal of some top officials but Teng, a hero to the protestors, said nothing more about future personnel shifts. "If there were other questions handled incorrectly . . . we must correct them, too, in the spirit of seeking truth from facts," he said.

"The broad masses demand stability and unity and consider the overall picture," Teng was quoted as telling some visiting Japanese Sunday. "Some utterances are not in the interest of stability and unity . . . we have to explain matters clearly to the masses and know how to lead."

Teng said a recent decision to clear the names of all those punished for participating in a 1976 riot in Tienanmen Square was "approved by the party Central Committee." The rioters were calling for more moderate policies and freer self-expression, as are the wallposters in Peking.

Meanwhile, a Hong Kong magazine with links to Peking reported that a colleague of Teng, former president Liu Shao-chi, died in 1969 of pneumonia. Liu was purged by Mao Tse-tung in the Cultural Revolution in 1966 and has not been seen in public since, despite recent calls for his rehabilitation. The magazine said Liu, old and feeble, caught the disease while being moved from Peking to a new detention spot in Honan Province. Mao informed Liu's children of his death when they asked in 1972, the report said.