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BOFIT Weekly 2010

27.8.2010 BOFIT Weekly 34/2010 (PDF)
Russia
  • Increasing share of Russia’s imports coming from China.
  • Public-sector economy records surplus in the first half.
China
  • State remains top source for bank capital.
  • Uncertainty over trends in housing prices.
  • China’s oil imports expected to grow.
20.8.2010 BOFIT Weekly 33/2010 (PDF)
Russia
  • Pace of economic recovery varies across Russian regions.
  • Improved regulation for Russia’s financial markets.
China
  • China surpasses Japan to become world’s second largest economy.
  • China enjoys good summer grain harvests despite unusual weather.
  • Hong Kong economic growth beats expectations.
13.8.2010 BOFIT Weekly 32/2010 (PDF)
Russia
  • Finnish exports of machinery & equipment to Russia down this year; other exports up.
  • Russian energy exports on the rise.
China
  • July economic figures indicate expected slowdown.
  • Inflation accelerated in July; housing prices show signs of stabilising.
  • China’s trade balance soared in July.
6.8.2010 BOFIT Weekly 31/2010 (PDF)
Russia
  • Falling unemployment and rising consumer confidence signal economic recovery.
  • Government tackles budget deficit.
China
  • IMF recommends China move ahead with broad range of reforms to increase domestic consumer demand.
  • Real incomes continue to rise.
  • China’s economic growth slowing as expected.
30.7.2010 BOFIT Weekly 30/2010 (PDF)
Russia
  • Russia grain harvest afflicted by major drought.
  • Government moves to improve corporate operating conditions.
China
  • China’s real estate markets show signs of cooling.
  • China’s popularity as a tourist destination continues to grow.
  • BRICs active in using protectionist measures during recent global financial crisis.
23.7.2010 BOFIT Weekly 29/2010 (PDF)
Russia
  • Russian economy shows moderate recovery.
  • Economic recession still reflected in the structure of Russian imports.
China
  • Yuan strengthens slightly against dollar, but drops against euro; international use of yuan on the increase.
  • Germany concerned about China’s treatment of foreign firms.
  • China’s fourth large state bank debuts on Shanghai and Hong Kong exchanges.
16.7.2010 BOFIT Weekly 28/2010 (PDF)
Russia
  • Russia posts current account and capital account surpluses in the first half of 2010.
  • Russia’s financial markets yo-yo in first half.
  • Russia on schedule in deregulation of its electricity markets.
China
  • Modest slowdown in Chinese economic growth.
  • China and Latin America continue to increase cooperation.
9.7.2010 BOFIT Weekly 27/2010 (PDF)
Russia
  • Russia-Belarus-Kazakhstan customs union now operational.
  • Innovation city legislation moves ahead.
China
  • Slide on Chinese stock markets continues; PMI suggests slowdown in growth.
  • China’s regulators warn on risks to banking sector; informal banking has a large role.
  • China’s communist party membership approached 78 million last year.
2.7.2010 BOFIT Weekly 26/2010 (PDF)
Russia
  • In search of solutions to rising pension costs.
  • International Monetary Fund expects fiscal restraint from Russia.
China
  • Wage disputes and strikes dog Japanese firms operating in China.
  • National audit office concerned about burgeoning debts of local administrations.
  • Unfair treatment of foreign firms starts to worry European companies operating in China.
24.06.2010 BOFIT Weekly 25/2010 (PDF)
Russia
  • Recovery of domestic demand reasonable in late spring, strong rise in imports.
  • Gazprom cuts gas deliveries to Belarus by 60 %.
  • Further whittling down of strategic firm list.
China
  • China returns to a more flexible exchange rate regime.
  • The last of China’s big state owned banks takes the IPO plunge.
  • China continues car industry subsidies.
18.6.2010 BOFIT Weekly 24/2010 (PDF)
Russia
  • Cabinet adjusts this year’s federal budget.
  • Framework for next year’s federal budget gradually takes shape.
  • Apartment construction activity is waiting to revive.
China
  • China looks at business opportunities in Greece.
  • Consumer price inflation accelerated in May.
  • Mainland China and Taiwan set to lower bilateral tariffs and eliminate other barriers to trade.
11.6.2010 BOFIT Weekly 23/2010 (PDF)
Russia
  • Ruble weakens.
  • Efforts continue to make Moscow a financial hub.
  • Putin’s 10-year economic programme scrutinised.
China
  • China’s foreign trade surplus balloons again.
  • China reduces import tariffs.
  • Chinese demand has benefitted Finland during the global economic downturn.
4.6.2010 BOFIT Weekly 22/2010 (PDF)
Russia
  • CBR lowers most key rates a fourth of a percentage point.
  • Government moves to lower inflation.
  • No breakthroughs at EU-Russia summit.
China
  • Pressure for higher wages spreads.
  • Industrial output growth appears to be slowing.
  • Despite the global recession, American firms in China thrived last year.
28.5.2010 BOFIT Weekly 21/2010 (PDF)
Russia
  • Ministries wrangle over assumptions as drafting of 2011 federal budget gets underway.
  • 2010 budget performance better than expected.
  • Teething problems hobble Russia-Belarus-Kazakhstan customs union.
China
  • Strategic and economic dialogue finds answers on China-US relations.
  • Pegging of yuan exchange rate to dollar creates illusion of stability.
21.5.2010 BOFIT Weekly 20/2010 (PDF)
Russia
  • New economic data gives conflicted view of economic recovery.
  • Bank lending continued to decline in the first quarter, but turning point may now have been reached.
  • Foreign firms sign anti-corruption pact.
China
  • China’s main stock market indices retreat to levels of a year ago.
  • China-Japan bilateral trade blossoms amidst tensions.
  • China helping Nigeria develop its energy infrastructure.
14.5.2010         BOFIT Weekly 19/2010 (PDF)
Russia
  • Russia sees slight rise in oil production in first quarter.
  • Russian poverty declined in 2009 even amidst economic recession.
  • Finnish exports to Russia continue to decline.
China
  • Few surprises in April economic numbers.
  • Price inflation kicked up in April.
  • China’s trade returns to surplus in April.
7.5.2010 BOFIT Weekly 18/2010 (PDF)
Russia
  • Recent forecasts reflect uncertainties in forecasting Russian economic trends.
  • Split views on whether CBR will lower interest rates further.
  • Declining population clouds Russia’s development prospects.
China
  • China takes further measures to tighten its monetary stance without raising key interest rates.
  • Chinese banks seek more capital.
  • World’s Fair boosts Shanghai’s economy.
30.4.2010 BOFIT Weekly 17/2010 (PDF)
Russia
  • Russian economic growth slowed in the first quarter.
  • Russia issues new bonds in international markets.
  • Russia and Ukraine reach strategic deal on gas.
China
  • IMF new outlook forecasts robust Chinese economic growth and return of excessive current account imbalances.
  • Stock index futures trading launches in China.
  • China’s presence grows in international institutions.
23.4.2010 BOFIT Weekly 16/2010 (PDF)
Russia
  • Social issues top Putin’s annual government address to the Duma.
  • Customs union and need for economic modernisation drive changes in Russia’s customs policy.
  • Customs duties to decrease gradually.
China
  • Global crises hit FDI flows in China.
  • China tries to cool housing market through administrative rules.
16.4.2010 BOFIT Weekly 15/2010 (PDF)
Russia   
  • Growth in budget spending accelerated in the first quarter.
  • Russian car industry sees faint light at end of tunnel.
China
  • As expected, China displayed impressive growth in 1Q10.
  • Rise in consumer prices slowed in March.
  • China posted rare trade deficit in March; currency reserves continue to climb.
9.4.2010 BOFIT Weekly 14/2010 (PDF)
Russia
  • First quarter sees jump in current account surplus.
  • FDI inflows into Russia declined by about half in 2009.
  • High crude oil prices drive rebound in Russian stock market.
China
  • China and US continue to seek resolution on yuan’s valuation.
  • Share prices recover from slight drop in late January.
1.4.2010 BOFIT Weekly 13/2010 (PDF)
Russia
  • CBR lowers key rates again.
  • New North Caucasian Federal District to tackle regional problems.
China
  • Geely acquisition of Volvo signals China’s growing power and dynamism in the global car industry.
  • China’s big banks posted record profits in 2009.
26.3.2010 BOFIT Weekly 12/2010 (PDF)
Russia
  • BOFIT semiannual forecast sees Russia back on GDP growth track in 2010–2012.
  • February’s economic figures still vague.
  • Climate change to play a larger role in Russian economic policy.
  • BOFIT forecast for Russia 2010-2012, published 25.3.2010
China
  • BOFIT expects robust economic growth to continue; economic policy challenges persist.
  • American companies highlight difficulties of doing business in China and increasingly press for changes in trade policy.
  • BOFIT forecast for China 2010-2012, published 25.3.2010
19.3.2010 BOFIT Weekly 11/2010 (PDF)
Russia
  • Persistent rate hikes for municipal services continue.
  • Impacts of global economic meltdown vary among CIS countries.
China
  • China’s 2009 state budget comes in on target.
  • China’s international arms exports on the rise.
  • China increases its share of Finnish foreign trade.
12.3.2010 BOFIT Weekly 10/2010 (PDF)
Russia
  • Innovation − Russia’s answer to economic modernisation.
  • Finland-Russia trade contracted sharply in 2009.
China
  • China again targets 8 % GDP growth for 2010.
  • Local administrations borrowing actively and raising China’s overall public debt.
5.3.2010 BOFIT Weekly 9/2010 (PDF)
Russia
  • Finance ministry pushing for return to tight fiscal policies.
  • Decisions postponed on investment in development of massive Shtokman gas field.
China
  • Yuan exchange rate still firmly pegged to the dollar.
  • Fixed capital investment and migration from the countryside seen as the biggest contributors to China’s productivity gains.
  • Share prices level off; daily trading volumes down.
26.2.2010 BOFIT Weekly 8/2010 (PDF)
Russia
  • January economic numbers offer little optimism.
  • CBR lowers key rates by a quarter of a percentage point; rouble under pressure to rise.
  • Banking sector growth flat-lined in 2009.
China
  • Land deals highly profitable for the state.
  • Chinese data show only marginal Finnish direct investment in China.
  • Other BRIC countries lag far behind China in international patent applications.
19.2.2010 BOFIT Weekly 7/2010 (PDF)
Russia
  • Gulf of Finland harbours playing greater role in Russian shipping.
  • Government moves to support single-enterprise towns.
China
  • PBoC continues to tighten its monetary stance.
  • Many cities and provinces increase their minimum wage definitions.
  • OECD: China still has plenty of room to implement sweeping reforms.
12.2.2010 BOFIT Weekly 6/2010 (PDF)
Russia
  • Stimulus to continue this year.
  • Viktor Yanukovich wins presidency of economically struggling Ukraine.
China
  • China’s smaller current account surplus last year helped ease global imbalances.
  • Foreign trade continued to recover in January despite rise in trade frictions.
  • Crisis turns China’s Russia trade balance negative.
5.2.2010 BOFIT Weekly 5/2010 (PDF)
Russia
  • Especially fixed capital investment posts sharp drop last year.
  • Grey economy slightly increases its contribution to GDP during the downturn.
China
  • China’s influence in iron ore and base metal markets heightened by financial crisis.
  • China’s coal imports exceptionally large in 2009.
  • Market capitalizations of energy companies in developing countries soar.
29.1.2010 BOFIT Weekly 4/2010 (PDF)
Russia
  • Reforms in the Russia’s banking sector.
  • Birth pangs for new Russia-Belarus-Kazakhstan customs union.
  • Russia and Belarus agree on oil supplies.
China
  • China rising as science superpower; huge growth in research activity.
  • China leads the world in car sales.
  • Record harvest in 2009.
22.1.2010 BOFIT Weekly 3/2010 (PDF)
Russia
  • Russia continued to manage trade and current account surpluses in 2009.
  • Capital exports from Russia fell in 2009; capital inflows turned positive in the fourth quarter.
  • Russia’s foreign indebtedness declined slightly in 2009.
  • Plans to develop Russia’s Far East.
China
  • China posted strong growth in 2009.
  • Inflation picks up.
  • Foreign currency reserves increased at near-record rate in 2009.
15.1.2010 BOFIT Weekly 2/2010 (PDF)
Russia
  • Economy ministry says Russian GDP contracted 8.5 % last year.
  • Economy ministry issues more upbeat 2010 forecast.
  • 2009 federal budget deficit smaller than expected; 2010 budget outlook brightens.
  • Moscow stock exchanges posted strong recovery last year.
China

  • China tightens monetary policy.
  • China’s exports and imports recover to pre-crisis levels.
  • Year starts with no big law changes, while introduction of new tort law looms.
8.1.2010 BOFIT Weekly 1/2010 (PDF)
Russia
  • CBR lowers interest rates again, inflation rate slowing.
  • Pensioners saw real increases even as wage growth stagnated in 2009.
China
  • China revises official figure for 2008 GDP growth upwards to 9.6 %.
  • 2009 a good year for Chinese stocks.
  • China’s 2009 exchange rate policy in review: dollar peg stayed firm as currency controls were relaxed.