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Monetary Statistics for April 2011

The following is issued on behalf of the Hong Kong Monetary Authority:

     According to statistics published today (May 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 2.5% in April.  With demand, savings and time deposits rising, Hong Kong-dollar deposits expanded by 2.3% during the month. Foreign-currency deposits also grew by 2.8% in April. Renminbi deposits in Hong Kong climbed by 13.1% to RMB510.7 billion at the end of April. The total remittance of the renminbi for cross-border trade settlement amounted to RMB134.2 billion in April, compared with RMB115.4 billion in March.

     Total loans and advances rose by 1.8% in April. Loans for use in Hong Kong expanded by 1.1% and loans for use outside Hong Kong grew by 4.5%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined from 81.7% at the end of March to 80.4% at the end of April.

     Seasonally adjusted Hong Kong-dollar M1 expanded by 3.2% in April and climbed by 8.0% year on year. Unadjusted Hong Kong-dollar M3 rose by 2.3% during the month and grew by 6.0% from a year earlier.

Ends/Tuesday, May 31, 2011
Issued at HKT 16:39


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