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According to statistics published today (September 29) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 2.1% in August 2006. Of the total, Hong Kong dollar deposits and foreign currency deposits rose by 2.7% and 1.4% respectively. Within foreign currency deposits, renminbi deposits increased by 0.1% to RMB22.7 billion yuan in August.
Total loans and advances expanded by 1.4% in August. Of the total, loans for use in Hong Kong and outside Hong Kong rose by 1.4% and 2.1% respectively. Moreover, Hong Kong dollar loans and foreign currency loans grew by 1.5% and 1.1% respectively. As the increase in Hong Kong dollar deposits was larger than the rise in Hong Kong dollar loans, the loan-to-deposit ratio decreased slightly to 79.8% in August.
On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.6% in August and advanced by 1.6% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 increased by 2.5% and 2.4% respectively during the month. On a year-on-year comparison, both Hong Kong dollar M2 and M3 rose by 14.5%.
For further enquiries, please contact:
Ying-ying Cheng, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Ends/Friday, September 29, 2006
Issued at HKT 16:33
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