Monetary Statistics for September 2012

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

     According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 1.3% in September. Hong Kong-dollar deposits expanded by 2.0% during the month, reflecting increases in demand, savings and time deposits. Overall foreign-currency deposits grew by 0.6% in September, while renminbi deposits in Hong Kong declined by 1.2% to RMB545.7 billion. The total remittance of the renminbi for cross-border trade settlement amounted to RMB239.3 billion in September, compared with RMB254.2 billion in the previous month.

     Total loans and advances rose by 1.2% in September. Loans for use in Hong Kong grew by 0.8% and loans for use outside Hong Kong expanded by 2.2%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 81.3% at the end of September from 82.4% a month ago.

     In the third quarter of 2012, loans for use in Hong Kong rose by 1.6%, broadly the same pace as in the previous quarter. Analysed by economic use, the quarterly expansion in loans was led by trade finance, residential mortgage loans, loans to wholesale and retail trade and loans for building, construction, property development and investment.

     Seasonally adjusted Hong Kong-dollar M1 increased by 0.4% in September and expanded by 10.2% year on year. Unadjusted Hong Kong-dollar M3 rose by 2.1% during the month and expanded by 10.9% from a year earlier.

Release Schedule of Monetary Statistics in Hong Kong

The monthly release schedule of monetary statistics in Year 2013 is as follows.

     Reference Month      Release Date

     January 2013         February 28, 2013
     February 2013        March 28, 2013
     March 2013           April 30, 2013
     April 2013           May 31, 2013
     May 2013             June 28, 2013
     June 2013            July 31, 2013
     July 2013            August 30, 2013
     August 2013          September 30, 2013
     September 2013       October 31, 2013
     October 2013         November 29, 2013
     November 2013        December 31, 2013
     December 2013        January 30, 2014

Ends/Wednesday, October 31, 2012
Issued at HKT 17:53