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Monetary Statistics for October 2013

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

     According to statistics published today (November 29) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.8% in October. As the contraction in time deposits exceeded the expansion in demand and savings deposits, Hong Kong-dollar deposits edged down by 0.2% during the month. Overall foreign-currency deposits rose by 1.6% in October, and renminbi deposits in Hong Kong expanded by 7.1% to RMB781.6 billion at the end of October. The total remittance of the renminbi for cross-border trade settlement amounted to RMB315.3 billion in October, compared with RMB331.7 billion in September.

     Total loans and advances edged up by 0.1% in October. Loans for use in Hong Kong including trade finance decreased slightly by 0.3%, while loans for use outside Hong Kong increased by 1.2%. As Hong Kong-dollar loans decreased at a faster rate than deposits, the Hong Kong-dollar loan-to-deposit ratio went down to 81.9% at the end of October from 82.6% at the end of September.  

     Seasonally adjusted Hong Kong-dollar M1 increased by 0.4% in October and expanded by 13.5% year on year. Seasonally unadjusted Hong Kong-dollar M3 was virtually unchanged during the month and rose by 8.0% from a year earlier.  

Ends/Friday, November 29, 2013
Issued at HKT 16:59


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