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Monetary Statistics for June 2016
The following is issued on behalf of the Hong Kong Monetary Authority:

     According to statistics published today (July 29) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.9% in June. With demand, savings and time deposits increasing, Hong Kong-dollar deposits rose by 0.9% during the month. Overall foreign-currency deposits increased by 1.0% in June. Renminbi deposits in Hong Kong decreased by 2.8% to RMB711.5 billion at the end of June. The total remittance of Renminbi for cross-border trade settlement amounted to RMB459.2 billion in June, compared with RMB417.3 billion in May.

     Total loans and advances increased by 1.0% in June. Among the total, loans for use in Hong Kong (including trade finance) rose by 1.1% from a month ago, and loans for use outside Hong Kong grew by 0.7%. As Hong Kong-dollar loans increased at a slower pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio edged down to 78.2% at the end of June from 78.5% at the end of May.

     In the second quarter of 2016, loans for use in Hong Kong (including trade finance) rose by 3.1% after edging up by 0.1% in the previous quarter. Analysed by economic use, the quarterly increase in loans was mainly led by trade finance, loans to financial concerns, and loans to manufacturing.

     Seasonally adjusted Hong Kong-dollar M1 rose by 1.2% in June and expanded by 5.1% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.9% during the month and rose by 2.1% from a year earlier.
Ends/Friday, July 29, 2016
Issued at HKT 16:30
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