Monetary Statistics for June 2004

Press Releases

30 Jul 2004

Monetary Statistics for June 2004

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew for the second consecutive month by 0.6% in June. Of the total, Hong Kong dollar and foreign currency deposits rose by 0.9% and 0.3% respectively.

Total loans and advances expanded by 1.4% in June, with loans for use in Hong Kong and outside Hong Kong rising by 1.4% and 1.0% respectively. Analysed by currency, Hong Kong dollar and foreign currency loans both recorded an increase. As Hong Kong dollar loans rose more than Hong Kong dollar deposits, the loan-to-deposit ratio increased to 85.3% in June.

Analysed by economic use, the expansion of domestic loans in the June quarter was broad-based. In particular, trade financing, and lending to manufacturing and transport-related sectors rose notably on a quarter-on-quarter comparison. Loans for financial concerns, building, construction, property development and investment, and wholesale and retail trade also registered some increases. On the other hand, residential mortgage loans fell during the quarter.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.1% in June and by 39.3% from a year ago. Unadjusted Hong Kong dollar M2 and M3 both rose by 0.9% during the month, and by 2.8% and 2.6% respectively from a year earlier.

 

For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
30 July 2004

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