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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (October 29) by the Hong Kong Monetary Authority, total deposits with authorised institutions rose by 3.6% in September 2010. Hong Kong-dollar deposits increased by 7.5% during the month, driven by a marked expansion in demand deposits due to initial public offering activity in the equity market. In contrast, foreign-currency deposits contracted by 0.7% in September. Accounting for around 5.7% of foreign-currency deposits, renminbi deposits in Hong Kong expanded markedly by 14.5% to RMB149.3 billion at the end of September, reflecting the fast development of renminbi banking business in Hong Kong.
Total loans and advances climbed by 4.7% in September. Loans for use in Hong Kong grew by 5.7% and loans for use outside Hong Kong expanded by 1%. As Hong Kong-dollar loans rose at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined from 78.5% at the end of August to 77.6% at the end of September.
In the third quarter of 2010, loans for use in Hong Kong grew by 9.5%, compared with a 7.6% increase in the previous quarter. Analysed by economic use, most types of loans rose and lending to stockbrokers recorded significant growth due to equity fund-raising activity at the end of September.
Seasonally adjusted Hong Kong-dollar M1 rose by 1.2% in September and expanded by 6.3% year on year. Unadjusted Hong Kong-dollar M3 increased by 7.2% during the month and climbed by 8.7% from a year earlier.
Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2011 is as follows.
Reference Month Release Date
January 2011 February 28, 2011
February 2011 March 31, 2011
March 2011 April 29, 2011
April 2011 May 31, 2011
May 2011 June 30, 2011
June 2011 July 29, 2011
July 2011 August 31, 2011
August 2011 September 30, 2011
September 2011 October 31, 2011
October 2011 November 30, 2011
November 2011 December 30, 2011
December 2011 January 31, 2012
Ends/Friday, October 29, 2010
Issued at HKT 19:08
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