BOFIT Weekly

BOFIT Weekly Review provides facts and analysis on the Russian and Chinese economies on alternating weeks.

Editor-in-Chief: Juuso Kaaresvirta. Email: Juuso.Kaaresvirta(at)bof.fi

The information is compiled and edited from a variety of sources. The Bank of Finland assumes no responsibility for the completeness or accuracy of the information, and opinions expressed do not necessarily reflect the views of the Bank of Finland.

2021

12 May 2021 BOFIT Weekly 2021/19
Russia

7 May 2021 BOFIT Weekly 2021/18
China

30 Apr 2021 BOFIT Weekly 2021/17
Russia

23 Apr 2021 BOFIT Weekly 2021/16
China

16 Apr 2021 BOFIT Weekly 2021/15
Russia

9 Apr 2021 BOFIT Weekly 2021/14
China

1 Apr 2021 BOFIT Weekly 2021/13
Russia

26 Mar 2021 BOFIT Weekly 2021/12
China

19 Mar 2021 BOFIT Weekly 2021/11
Russia

12 Mar 2021 BOFIT Weekly 2021/10
China

5 Mar 2021 BOFIT Weekly 2021/09
Russia

26 Feb 2021 BOFIT Weekly 2021/08
China

19 Feb 2021 BOFIT Weekly 2021/07
Russia

12 Feb 2021 BOFIT Weekly 2021/06
China

5 Feb 2021 BOFIT Weekly 2021/05
Russia

29 Jan 2021 BOFIT Weekly 2021/04
China

22 Jan 2021 BOFIT Weekly 2021/03
Russia

15 Jan 2021 BOFIT Weekly 2021/02
China

8 Jan 2021 BOFIT Weekly 2021/01
Russia

2021

Russia

Koronakriisi painoi venäläisten reaalitulot pienimmiksi kymmeneen vuoteen

Venäjällä asuntoluottojen nopea kasvu jatkuu

Venäjällä yritysten voitot palautuneet, joskin sektorikohtaisia eroja on

China

China increases surveillance of large technology firms through anti-monopoly law

China slightly tightens monetary stance to cool lending growth

Housing market heats up in China’s major cities

Russia

New US sanctions reduce presence of foreign investors in Russia’s bond market

Recovery of Russian economy continues

Russian CBR hikes key rate again

Defence spending rose yet again last year

China

China’s first quarter economic figures show V-shape part of recovery has passed

Covid situation in China quite good; pace of vaccination accelerates

Income growth slightly lags Chinese GDP growth

Strong first quarter for Chinese foreign trade

Russia

Russian GDP contracted by 3 % last year; domestic demand revived in second half

Russian foreign trade further on path to recovery, capital flows dwindle

Geopolitical concerns weigh on ruble exchange rate

Russia hopes to attract investment in the Arctic territory

China

IMF says global outlook has improved significantly from three months ago

Financial performance of Chinese banks last year all over the map

PBoC’s digital currency project moves ahead

Russia

CBR raises key rate to 4.5 %

Russia has enjoyed relatively stable economic conditions during the first two months of this year

National Welfare Fund assets invested in yuan-denominated debt securities

Russia shows cautious interest in green financing

China

Latest BOFIT forecast for China sees economic growth slowing in coming years after strong performance this year

China’s new five-year plan emphasises industrial development and self-sufficiency

Bumpy first high-level meeting between China and Biden administration officials

The EU, US, UK and Canada all impose sanctions on Chinese officials for Xinjiang human rights violations

New initiatives to ease capital controls in China

Russia

BOFIT Forecast 2021−2023 for Russia sees recovery amid exceptionally large risks

Russia records huge mortality increase in 2020

Russia expands price monitoring significantly; food prices under pressure to rise

Russian and Chinese arms exports decline

China

China’s National People’s Congress sets economic policy course

NPC elects to restrain growth in budget spending this year

A quarter of all international patent filings last year were made in China

While Finland’s imports overall were down sharply last year, imports from China grew by 9 %

Russia

Fixed investment in Russia recovered in late 2020

Russian oil production and exports contracted sharply last year

Production and exports of natural gas declined last year

Finnish trade with Russia collapsed last year

China

New travel restrictions subdue start of Chinese Lunar New Year celebrations

China ranked the world’s top FDI recipient in 2020

China’s current account surplus last year increased to about 2 % of GDP

Given the overall outlook for China, provincial GDP growth targets look rather modest

Russia

Gold and wheat exports partly compensated for drop in value of Russian oil exports last year

Central Bank of Russia keeps key rate unchanged

Russian government spending in stimulus mode last year

IMF’s annual Article IV consultation with Russia raised a wide range of economic issues

China

Volume of Chinese goods exports showed exceptionally strong growth amidst pandemic

Officials hope to rein in real estate sector risks in China

Hong Kong’s real economy remains weak

China is Myanmar’s most important trading partner

Russia

Latest economic data for Russia looks promising

Even with domestic demand and imports plunging, the Russian economy contracted less than expected in 2020

Russian agriculture enjoys another year of growth

Russian banking sector enjoyed brisk growth last year

China

Chinese GDP stages V-shaped recovery in 2020, bouncing back from covid-19 lockdowns to positive on-year growth

Latest forecasts show China putting the covid-19 crisis behind it, even as other emerging economies struggle

Chinese debt-to-GDP ratio approaches 300 %

National carbon trading scheme expected to help China reach more ambitious climate targets

Russia