Monetary Statistics for January 2018

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 2.5% in January 2018. With increases in savings, demand and time deposits, Hong Kong-dollar deposits expanded by 3.6% during the month. Overall foreign-currency deposits grew by 1.5% in January. Renminbi deposits in Hong Kong decreased by 2.3% to RMB546.4 billion at the end of January. The total remittance of renminbi for cross-border trade settlement amounted to RMB373.4 billion in January, compared with RMB428.7 billion in December 2017.

Total loans and advances rose by 2.2% in January. Among the total, loans for use in Hong Kong (including trade finance) picked up by 2.1% from a month ago and loans for use outside Hong Kong expanded by 2.5%. As Hong Kong-dollar deposits increased at a faster pace than Hong Kong-dollar loans, the Hong Kong-dollar loan-to-deposit ratio decreased to 81.1% at the end of January from 82.7% at the end of December 2017.

Seasonally adjusted Hong Kong-dollar M1 rose by 5.0% in January and expanded by 19.1% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 3.4% during the month and rose by 12.8% from a year earlier.

Annex

 
Hong Kong Monetary Authority
28 February 2018