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Monetary Statistics for May 2017
The following is issued on behalf of the Hong Kong Monetary Authority:

     According to statistics published today (June 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.5% in May 2017.  With increase in savings, demand and time deposits, Hong Kong-dollar deposits expanded by 1.3% during the month. Overall foreign-currency deposits decreased by 0.2% in May. Renminbi deposits in Hong Kong edged down by 0.6% to RMB524.8 billion at the end of May. The total remittance of renminbi for cross-border trade settlement amounted to RMB287.2 billion in May, compared with RMB268.2 billion in April.
     Total loans and advances rose by 1.9% in May. Among the total, loans for use in Hong Kong (including trade finance) went up by 1.4% from a month ago, and loans for use outside Hong Kong expanded by 3.1%. As Hong Kong-dollar loans and Hong Kong-dollar deposits grew at the same pace, the Hong Kong-dollar loan-to-deposit ratio stayed virtually unchanged at 75.9% at the end of May.
     Seasonally adjusted Hong Kong-dollar M1 increased by 2.1% in May and expanded by 14.6% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.2% during the month and rose by 15.5% from a year earlier.
Ends/Friday, June 30, 2017
Issued at HKT 16:36
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