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Monetary Statistics for July 2012

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

      According to statistics published today (August 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions grew by 0.8% in July. As the expansion in demand and savings deposits exceeded the contraction in time deposits, Hong Kong-dollar deposits expanded by 1.0% during the month. Overall foreign-currency deposits increased by 0.5% in July, and renminbi deposits in Hong Kong rose by 1.0% to RMB563.2 billion. The total remittance of the renminbi for cross-border trade settlement amounted to RMB223.4 billion in July, compared with RMB241.4 billion in the previous month.

     Total loans and advances expanded by 1.0% in July, with both loans for use in Hong Kong and loans for use outside Hong Kong growing at the same pace of 1.0%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio edged down to 83.6% at the end of July from 84.0% a month ago.

     Seasonally adjusted Hong Kong-dollar M1 grew by 1.9% in July and expanded by 5.8% year on year. Unadjusted Hong Kong-dollar M3 increased by 1.0% during the month and expanded by 5.0% from a year earlier.

Ends/Friday, August 31, 2012
Issued at HKT 17:54


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