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According to statistics published today (June 29) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 2.4% in May 2007. Hong Kong dollar and foreign currency deposits rose by 3.1% and 1.6% respectively. Within foreign currency deposits, renminbi deposits increased by 2.6% to RMB 26.2 billion yuan at the end of May.
Total loans and advances expanded by 2.2% during the month, with Hong Kong dollar and foreign currency loans increasing by 2.4% and 1.5% respectively. Loans for use in Hong Kong and outside Hong Kong grew by 2.1% and 2.4% respectively. Reflecting a smaller increase in loans relative to deposits, the Hong Kong dollar loan-to-deposit ratio declined to 73.3% at the end of May.
On a seasonally adjusted basis, Hong Kong dollar M1 grew by 1.2% in May and by 11.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both expanded by 2.8% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 both increased by 6.8%.
For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Hing-fung Wong, Officer (Press), at 2878 1802
Ends/Friday, June 29, 2007
Issued at HKT 17:22
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