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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (September 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.2% in August 2015. As the increase in demand and time deposits exceeded the decrease in savings deposits, Hong Kong-dollar deposits picked up by 0.4%. Overall foreign-currency deposits rose by 2.1%. Renminbi deposits in Hong Kong declined by 1.5% to RMB979.0 billion at the end of August. The total remittance of renminbi for cross-border trade settlement amounted to RMB727.9 billion in August, compared with RMB583.6 billion in July.
Total loans and advances went down by 0.4% in August. Among the total, loans for use in Hong Kong (including trade finance) edged up by 0.3% from a month ago, while loans for use outside Hong Kong decreased by 2.2%. As Hong Kong-dollar loans declined while Hong Kong-dollar deposits increased, the Hong Kong-dollar loan-to-deposit ratio moved down to 78.5% at the end of August from 79.7% at the end of July.
Seasonally adjusted Hong Kong-dollar M1 grew by 2.6% in August and expanded by 15.5% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.3% during the month and rose by 10.0% from a year earlier.
Ends/Wednesday, September 30, 2015
Issued at HKT 16:35
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