Monetary Statistics for June 2010

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.3% in June 2010. Hong Kong-dollar deposits rose by 1.7% during the month as the expansion in time deposits exceeded the decline in demand and savings deposits. Foreign-currency deposits also climbed by 0.8% in June. Accounting for around 3.5% of foreign-currency deposits, renminbi deposits in Hong Kong grew by 4.8% to RMB89.7 billion at the end of June.

Total loans and advances rose by 5.0% in June. Loans for use in Hong Kong grew by 3.8% and loans for use outside Hong Kong expanded by 10.3%. As Hong Kong-dollar loans increased at a faster rate than deposits, the Hong Kong-dollar loan-to-deposit ratio climbed to 77.7% at the end of June from 76.4% at the end of May.

In the second quarter of 2010, loans for use in Hong Kong grew by 7.6%, compared with a 5.0% increase in the previous quarter. Analysed by economic use, most types of loans recorded faster growth and trade financing loans registered a strong growth of 20.3%.

Seasonally adjusted Hong Kong-dollar M1 declined by 2.6% in June but rose by 15.3% year on year. Unadjusted Hong Kong-dollar M3 increased by 1.5% during the month and expanded by 3.1% from a year earlier.

Annex

For media enquiries, please contact:
Anissa Wong, Manager (Communications), at 2878 1802 or
Yokee Wong, Manager (Communications), at 2878 1213

Hong Kong Monetary Authority
30 July 2010