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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 authorized institutions edged down by 0.2% in July 2015. As the decrease in demand and time deposits exceeded the increase in savings deposits, Hong Kong-dollar deposits declined by 0.8% in July. Overall foreign-currency deposits picked up by 0.4%. Renminbi deposits in Hong Kong expanded by 0.1% to RMB994.1 billion at the end of July. The total remittance of renminbi for cross-border trade settlement amounted to RMB583.6 billion in July, compared with RMB592.9 billion in June.
Total loans and advances decreased by 0.6% in July. Among the total, loans for use in Hong Kong (including trade finance) declined by 0.9% from a month ago, while loans for use outside Hong Kong increased by 0.2%. As Hong Kong-dollar loans decreased at a slightly faster rate than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio edged down to 79.7% at the end of July from 79.9% at the end of June.
Seasonally adjusted Hong Kong-dollar M1 went down by 3.2% in July but expanded by 14.0% year on year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.7% during the month but rose by 9.2% from a year earlier.
Ends/Monday, August 31, 2015
Issued at HKT 16:37
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