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Monetary Statistics for December 2014

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

     According to statistics published today (January 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions were virtually unchanged in December 2014. As the increase in demand and savings deposits exceeded the decrease in time deposits, Hong Kong-dollar deposits went up by 0.6% during the month. Overall foreign-currency deposits decreased by 0.6% in December. Renminbi deposits in Hong Kong increased by 3.0% to RMB1,003.6 billion at the end of December. The total remittance of renminbi for cross-border trade settlement amounted to RMB657.8 billion in December, compared with RMB532.8 billion in November.

     Total loans and advances decreased by 0.1% in December. Loans for use in Hong Kong (including trade finance) declined by 1.0%, while loans for use outside Hong Kong grew by 1.8%. As Hong Kong-dollar loans increased at a faster pace than deposits, the Hong Kong-dollar loan-to-deposit ratio moved up to 83.3% at the end of December from 82.5% at the end of November.

     For the fourth quarter as whole, loans for use in Hong Kong (including trade finance) decreased by 0.7% after growing by 1.4% in the third quarter. Analysed by economic use, the quarterly contraction in loans was mainly contributed by trade finance, loans to wholesale and retail trade, and loans to information technology.

     Seasonally adjusted Hong Kong-dollar M1 rose by 1.5% in December and expanded by 11.7% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.5% in December and rose by 9.0% from a year earlier.

Ends/Friday, January 30, 2015
Issued at HKT 17:57


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