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

     According to statistics published today (January 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.5 per cent in December 2017. As the increase in time deposits offset the decline in demand and savings deposits, Hong Kong-dollar deposits stayed virtually unchanged during the month. Overall foreign-currency deposits expanded by 1.1 per cent in December. Renminbi deposits in Hong Kong stayed virtually unchanged at RMB559.1 billion at the end of December. The total remittance of renminbi for cross-border trade settlement amounted to RMB428.7 billion in December, compared with RMB440.5 billion in November.
     Total loans and advances rose by 1.2 per cent in December. Among the total, loans for use in Hong Kong (including trade finance) increased by 1.0 per cent from a month ago and loans for use outside Hong Kong expanded by 1.6 per cent. As Hong Kong-dollar loans increased while Hong Kong-dollar deposits stayed virtually unchanged, the Hong Kong-dollar loan-to-deposit ratio picked up to 82.7 per cent at the end of December from 81.0 per cent at the end of November.
     In the fourth quarter of 2017, loans for use in Hong Kong (including trade finance) grew by 2.8 per cent after increasing by 2.7 per cent in the previous quarter. Analysed by economic use, the quarterly increase in loans was mainly led by loans to financial concerns and loans to building, construction, property development and investment.
     Seasonally adjusted Hong Kong-dollar M1 edged up by 0.1 per cent in December and expanded by 11.9 per cent year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.2 per cent during the month and rose by 11.6 per cent from a year earlier.
Ends/Wednesday, January 31, 2018
Issued at HKT 16:49
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