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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (December 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions grew by 0.2% in November 2015. With demand, savings and time deposits all registering declines, Hong Kong-dollar deposits dropped by 0.3% during the month. By contrast, overall foreign-currency deposits rose by 0.8% in November. Renminbi deposits in Hong Kong picked up by 1.2% to RMB864.2 billion at the end of November. The total remittance of renminbi for cross-border trade settlement amounted to RMB508.9 billion in November, compared with RMB410.8 billion in October.
Total loans and advances edged up by 0.1% in November. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.1% and 0.2% respectively from a month ago. As Hong Kong-dollar loans increased while Hong Kong-dollar deposits declined, the Hong Kong-dollar loan-to-deposit ratio rose to 78.1% at the end of November from 77.4% at the end of October.
Seasonally adjusted Hong Kong-dollar M1 rose by 1.1% in November and expanded by 15.9% year on year. Seasonally unadjusted Hong Kong-dollar M3 edged down by 0.1% during the month but rose by 10.9% from a year earlier.
Ends/Thursday, December 31, 2015
Issued at HKT 16:33
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