Monetary Statistics for August 2016
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According to statistics published today (September 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.0% in August. With increases in demand, savings and time deposits, Hong Kong-dollar deposits expanded by 1.9% during the month. Overall foreign-currency deposits edged up by 0.1% in August. Renminbi deposits in Hong Kong decreased by 2.1% to RMB652.9 billion at the end of August. The total remittance of renminbi for cross-border trade settlement amounted to RMB398.8 billion in August, compared with RMB407.5 billion in July.
Total loans and advances grew by 0.5% in August. Among the total, loans for use in Hong Kong (including trade finance) increased by 0.3% from a month ago, and loans for use outside Hong Kong rose by 1.0%. As Hong Kong-dollar loans increased at a slower pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 75.3% at the end of August from 76.4% at the end of July.
Seasonally adjusted Hong Kong-dollar M1 expanded by 2.3% in August and rose by 10.1% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.8% during the month and grew by 6.3% from a year earlier.
Ends/Friday, September 30, 2016
Issued at HKT 17:14
Issued at HKT 17:14
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