Monetary Statistics for December 2013

Press Releases

30 Jan 2014

Monetary Statistics for December 2013

According to statistics published today (Thursday) by the Hong Kong Monetary Authority, total deposits with authorized institutions rose by 1.2% in December 2013. As the expansion in time deposits exceeded the contraction in demand and savings deposits, Hong Kong-dollar deposits edged up by 0.2% in December. Overall foreign-currency deposits grew by 2.2% in December, and renminbi deposits in Hong Kong rose by 4.0% to RMB860.5 billion at the end of December. The total remittance of renminbi for cross-border trade settlement amounted to RMB469.6 billion in December, compared with RMB439.4 billion in November.

Total loans and advances were virtually unchanged in December. Loans for use in Hong Kong including trade finance decreased slightly by 0.5% from a month ago, while loans for use outside Hong Kong grew by 1.0%. As Hong Kong-dollar loans increased at a faster rate than deposits, the Hong Kong-dollar loan-to-deposit ratio picked up to 82.1% at the end of December from 81.3% at the end of November. 

In the fourth quarter of 2013, loans for use in Hong Kong including trade finance declined by 0.3% after rising by 3.6% in the third quarter. Analysed by economic use, trade finance and loans for building, construction, property development and investment contracted, while loans for financial concerns, and wholesale and retail trade continued to increase. 

Seasonally adjusted Hong Kong-dollar M1 declined by 1.1% in December but expanded by 9.3% year on year. Seasonally unadjusted Hong Kong-dollar M3 edged up by 0.2% during the month and rose by 5.7% from a year earlier. 

Annex


Hong Kong Monetary Authority
30 January 2014

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Last revision date : 30 January 2014