Monetary Statistics for May 2015

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.5% in May 2015. As the expansion in demand and savings deposits exceeded the decrease in time deposits, Hong Kong-dollar deposits grew by 1.8% during the month. Overall foreign-currency deposits decreased by 0.7%. Renminbi deposits in Hong Kong increased by 1.8% to RMB972.4 billion at the end of May. The total remittance of renminbi for cross-border trade settlement amounted to RMB492.5 billion in May, compared with RMB484.2 billion in April.

Total loans and advances increased by 0.9% in May. Among the total, loans for use in Hong Kong (including trade finance) rose by 1.4% from a month ago, while loans for use outside Hong Kong stayed virtually unchanged. As Hong Kong-dollar loans increased at a slower rate than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 77.9% at the end of May from 78.1% at the end of April.

Seasonally adjusted Hong Kong-dollar M1 grew by 3.6% in May and expanded by 20.3% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.7% during the month and rose by 14.3% from a year earlier. 

Annex

Hong Kong Monetary Authority
30 June 2015