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

     According to statistics published today (November 30) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.6% in October. With increases in demand, savings and time deposits, Hong Kong-dollar deposits rose by 0.9% during the month. Overall foreign-currency deposits grew by 0.4% in October. Renminbi deposits in Hong Kong decreased by 0.4% to RMB662.5 billion at the end of October. The total remittance of renminbi for cross-border trade settlement amounted to RMB309.4 billion in October, compared with RMB382.9 billion in September. 

     Total loans and advances edged down by 0.1% in October. Among the total, loans for use in Hong Kong (including trade finance) grew by 0.5% from a month ago, and loans for use outside Hong Kong declined by 1.5%. As Hong Kong-dollar deposits increased at a faster pace than Hong Kong-dollar loans, the Hong Kong-dollar loan-to-deposit ratio edged down to 75.3% at the end of October from 75.6% at the end of September.

     Seasonally adjusted Hong Kong-dollar M1 edged up by 0.2% in October and expanded by 12.3% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.8% during the month and rose by 8.1% from a year earlier.

Ends/Wednesday, November 30, 2016
Issued at HKT 16:30

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