Monetary Statistics for May 2017

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.5% in May 2017. With increase in savings, demand and time deposits, Hong Kong-dollar deposits expanded by 1.3% during the month. Overall foreign-currency deposits decreased by 0.2% in May. Renminbi deposits in Hong Kong edged down by 0.6% to RMB524.8 billion at the end of May. The total remittance of renminbi for cross-border trade settlement amounted to RMB287.2 billion in May, compared with RMB268.2 billion in April.

Total loans and advances rose by 1.9% in May. Among the total, loans for use in Hong Kong (including trade finance) went up by 1.4% from a month ago, and loans for use outside Hong Kong expanded by 3.1%. As Hong Kong-dollar loans and Hong Kong-dollar deposits grew at the same pace, the Hong Kong-dollar loan-to-deposit ratio stayed virtually unchanged at 75.9% at the end of May.

Seasonally adjusted Hong Kong-dollar M1 increased by 2.1% in May and expanded by 14.6% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.2% during the month and rose by 15.5% from a year earlier. 

Annex

 
Hong Kong Monetary Authority
30 June 2017