Monetary Statistics for September 2016

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

     According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions expanded by 2.3% in September. With increases in demand, savings and time deposits, Hong Kong-dollar deposits rose by 1.2% during the month. Overall foreign-currency deposits picked up by 3.5% in September. Renminbi deposits in Hong Kong increased by 1.9% to RMB665.5 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB382.9 billion in September, compared with RMB398.8 billion in August.  
     Total loans and advances increased by 1.2% in September. Among the total, loans for use in Hong Kong (including trade finance) grew by 1.1% from a month ago, and loans for use outside Hong Kong rose by 1.4%. As Hong Kong-dollar loans increased at a faster pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio edged up to 75.6% at the end of September from 75.3% at the end of August.
     In the third quarter of 2016, loans for use in Hong Kong (including trade finance) picked up by 1.5% after rising by 3.1% in the previous quarter. Analysed by economic use, the quarterly increase in loans was mainly led by loans to financial concerns, loans to building, construction, property development and investment, and loans to transport and transport equipment.
     Seasonally adjusted Hong Kong-dollar M1 grew by 1.6% in September and expanded by 12.0% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.2% during the month and rose by 7.8% from a year earlier. 
Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2017 is as follows.
Reference Month                      Release Date
January 2017                           February 28, 2017
February 2017                         March 31, 2017
March 2017                             April 28, 2017
April 2017                                May 31, 2017
May 2017                                June 30, 2017
June 2017                                July 31, 2017
July 2017                                 August 31, 2017
August 2017                            September 29, 2017
September 2017                      October 31, 2017
October 2017                           November 30, 2017
November 2017                       December 29, 2017
December 2017                        January 31, 2018

Ends/Monday, October 31, 2016
Issued at HKT 18:11