Monetary Statistics for October 2007

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 8.2% in October. Hong Kong dollar and foreign currency deposits rose by 9.5% and 6.7% respectively. Hong Kong dollar demand deposits expanded by 11.9%, in part reflecting vibrant initial public offering activities. Renminbi deposits grew by 2.7% to RMB 28.3 billion yuan at the end of October.

Total loans and advances rose by 4.8% during the month, with both Hong Kong dollar and foreign currency loans increasing. Loans for use in Hong Kong and outside Hong Kong expanded by 5.3% and 2.0% respectively. The Hong Kong dollar loan-to-deposit ratio declined to 70.2% at the end of October.

On a seasonally adjusted basis, Hong Kong dollar M1 increased by 8.2% in October and by 20.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose by 8.9% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew by 40.3% and 40.0% respectively.

Annex

For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Hing-fung Wong, Officer (Press), at 2878 1802

Hong Kong Monetary Authority
30 November 2007