Monetary Statistics for September 2018

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 authorized institutions grew by 0.6 per cent in September 2018. Hong Kong-dollar deposits increased by 0.6 per cent during the month, as the increase in time deposits exceeded the decrease in demand and savings deposits. Overall foreign-currency deposits also increased by 0.6 per cent in September. Renminbi deposits in Hong Kong declined by 2.9 per cent to RMB600.3 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB348.8 billion in September, compared with RMB360.4 billion in August.
     Total loans and advances edged down by 0.1 per cent in September. Among the total, loans for use in Hong Kong (including trade finance) decreased by 0.2 per cent from a month ago, while loans for use outside Hong Kong stayed virtually unchanged. The Hong Kong-dollar loan-to-deposit ratio edged down to 85.0 per cent at the end of September from 85.1 per cent at the end of August, as Hong Kong-dollar loans increased at a slower pace than Hong Kong-dollar deposits.
     In the third quarter of 2018, loans for use in Hong Kong (including trade finance) declined by 1.2 per cent following an increase of 1.7 per cent in the previous quarter. Analysed by economic use, the decrease in loans during the third quarter was mainly led by trade finance, loans to financial concerns and loans to stockbrokers.
     On a seasonally-adjusted basis, Hong Kong-dollar M1 declined by 1.5 per cent in September and decreased by 0.3 per cent year-on-year. Seasonally unadjusted Hong Kong-dollar M3 edged up by 0.5 per cent during the month and grew by 4.3 per cent from a year earlier. 

Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2019 is as follows.
Reference Month                       Release Date
January 2019  February 28, 2019
February 2019  March 29, 2019
March 2019  April 30, 2019
April 2019  May 31, 2019
May 2019 June 28, 2019
June 2019 July 31, 2019
July 2019 August 30, 2019
August 2019  September 30, 2019
September 2019 October 31, 2019
October 2019 November 29, 2019
November 2019 December 31, 2019
December 2019 January 31, 2020

Ends/Wednesday, October 31, 2018
Issued at HKT 16:57