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The following is issued on behalf of Hong Kong Monetary Authority:
According to statistics published today (September 28) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 1.9% in August 2007. Hong Kong dollar and foreign currency deposits rose by 1.4% and 2.4% respectively. With the second issuance of renminbi-denominated bonds in Hong Kong, renminbi deposits grew by 1.7% to RMB 28.3 billion yuan at the end of August.
Total loans and advances rose by 1.8% during the month, with both Hong Kong dollar and foreign currency loans increasing. Loans for use in Hong Kong and outside Hong Kong expanded by 1.8% and 1.6% respectively. As Hong Kong dollar loans and deposits grew at roughly the same rate, the Hong Kong dollar loan-to-deposit ratio remained unchanged at 72.9% at the end of August.
On a seasonally adjusted basis, Hong Kong dollar M1 increased by 0.8% in August and by 10.9% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose by 1.2% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew by 18.7% and 18.6% respectively.
For further enquiries, please contact:
Peggy Lo, Manager (Press), at 2878 1687 or
Hing-fung Wong, Officer (Press), at 2878 1802
Ends/Friday, September 28, 2007
Issued at HKT 16:30
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