Monetary Statistics for May 2010

Press Releases

30 Jun 2010

Monetary Statistics for May 2010

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 3.9% in May 2010. Hong Kong-dollar deposits contracted markedly by 5.4% during the month, partly reflecting a high base of comparison due to initial public offering activity in the previous month. Foreign-currency deposits also shrank by 2.2% in May. Accounting for around 3.3% of foreign-currency deposits, renminbi deposits in Hong Kong grew by 4.7% to RMB84.7 billion at the end of May.

Total loans and advances declined by 0.9% in May. Loans for use in Hong Kong decreased by 1.3% but loans for use outside Hong Kong expanded by 0.5%. As Hong Kong-dollar loans contracted at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio increased from 74.2% at the end of April to 76.4% at the end of May.

Seasonally adjusted Hong Kong-dollar M1 shrank by 6.6% in May but rose by 23.0% year on year. Unadjusted Hong Kong-dollar M3 contracted by 5.1% during the month but expanded by 4.4% from a year earlier.

Annex

For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Anissa Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
30 June 2010

Latest Press Releases
Last revision date : 30 June 2010