EU-China Economic Forum to be held in Kraków and Brussels.

With a growing acknowledgment for the need to diversify and to consolidate the linkage between economists, policy makers and practitioners from China and Europe, the need to establish a European Union-China Economic Forum arises. The Forum will serve as a high level platform, giving Chinese and European experts in the field of economy, politics and science an opportunity for in-depth research-based exchanges on global issues of mutual interest.

The China Institute, the Polish Chamber of Commerce-Promotion Center, the Asia Pacific CEO Association together with the European Parliament and under the patronage of the Minister of the Economy – Waldemar Pawlak, Minister of Agricultural and Rural Development Marek Sawicki, and Małopolska province organise the first European Union-China Economic Forum. The Forum will take place in Kraków and Brussels, 12th-15th April 2010 with the EU-China business and governmental cooperation as the central theme.

As President of the China Institute Bogdan Golik emphasises the EU-China Economic Forum will be the first of this type in Europe. “The conference will gather European and Chinese experts, academics, businessmen, leaders and policymakers currently involved in key EU-China projects. We are convinced that the event and the list of distinguished contributors will provide us with an excellent platform for discussing the framework for the Institute and tasks it should undertake. The best recommendation of the Forum is that the central authorities, particularly the Minister of the Economy has supported our initiative”

“The new initiative in this part of Europe will strengthen our abilities to cooperate with the Middle Kingdom” Bożena Wróblewska, president of the Polish Chamber of Commerce – Promotion Center says. “We need to find a proper formula in bilateral relations especially in the economy. China is becoming a more and more attractive market and we should know how to cooperate with our Chinese friends” she adds.

The Forum that will take in Poland and Belgium focuses also on administration issues. “It contributes to improve the understanding of ongoing processes both in Europe and in China. The new formula of combining economy and self-governance issues will be a useful tool, especially for economists, scholars and governmental officials, for exchanging ideas and resolving arising problems” Dominik Mierzejewski Ph.D., vice-president of the China Institute, remarks.

For further information, venue and programme please visit the EU-China Economic Forum official website on http://www.eu-chinaforum.eu/

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

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