Monetary Statistics for April 2011

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 2.5% in April. With demand, savings and time deposits rising, Hong Kong-dollar deposits expanded by 2.3% during the month. Foreign-currency deposits also grew by 2.8% in April. Renminbi deposits in Hong Kong climbed by 13.1% to RMB510.7 billion at the end of April. The total remittance of the renminbi for cross-border trade settlement amounted to RMB134.2 billion in April, compared with RMB115.4 billion in March.

Total loans and advances rose by 1.8% in April. Loans for use in Hong Kong expanded by 1.1% and loans for use outside Hong Kong grew by 4.5%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined from 81.7% at the end of March to 80.4% at the end of April.

Seasonally adjusted Hong Kong-dollar M1 expanded by 3.2% in April and climbed by 8.0% year on year. Unadjusted Hong Kong-dollar M3 rose by 2.3% during the month and grew by 6.0% from a year earlier.

Annex

Hong Kong Monetary Authority
31 May 2011