Monetary Statistics for August 2017
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According to statistics published today (September 29) by the Hong Kong Monetary Authority, total deposits with authorized institutions edged down by 0.2% in August 2017. As the decrease in demand and time deposits exceeded the increase in savings deposits, Hong Kong-dollar deposits decreased by 0.7% during the month. Overall foreign-currency deposits grew by 0.3% in August. Renminbi deposits in Hong Kong decreased by 0.4% to RMB532.8 billion at the end of August. The total remittance of renminbi for cross-border trade settlement amounted to RMB336.0 billion in August, compared with RMB329.6 billion in July.
Total loans and advances edged up by 0.2% in August. Among the total, loans for use in Hong Kong (including trade finance) increased by 0.2% from a month ago and loans for use outside Hong Kong grew by 0.3%. As Hong Kong-dollar loans expanded while Hong Kong-dollar deposits declined, the Hong Kong-dollar loan-to-deposit ratio went up to 78.3% at the end of August from 77.2% at the end of July.
Seasonally adjusted Hong Kong-dollar M1 increased by 0.5% in August and expanded by 12.1% year on year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.6% during the month but rose by 13.1% from a year earlier.
Ends/Friday, September 29, 2017
Issued at HKT 17:15
Issued at HKT 17:15
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