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Monetary Statistics for March 2005

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions declined by 1.4% in March 2005, as a 3.2% fall in Hong Kong dollar deposits outweighed a rise of 0.6% in foreign currency deposits. Within foreign currency deposits, renminbi deposits amounted to RMB15.0 billion yuan in March, compared with RMB13.9 billion yuan in February.

Total loans and advances decreased by 1.9% in March, with loans for use in Hong Kong and outside Hong Kong falling by 1.9% and 2.0% respectively. Analysed by currency, Hong Kong dollar and foreign currency loans both declined. As Hong Kong dollar deposits decreased more than Hong Kong dollar loans, the loan-to-deposit ratio increased to 84.8% in March.

Loans analysed by economic uses were mixed in the March quarter. Lending to the manufacturing sector, stockbrokers, and building, construction, property development and investment registered notable increases on a quarter-on-quarter comparison. On the other hand, lending to financial concerns, wholesale and retail trade, and transport-related loans decreased moderately during the quarter.

On a seasonally adjusted basis, Hong Kong dollar M1 fell by 3.8% in March, but rose by 2.8% from a year ago. Unadjusted Hong Kong dollar M2 and M3 both decreased by 3.0% during the month, but grew by 6.4% and 6.2% respectively from a year earlier.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
H. F. Wong, Resource Coordinator (Press), at 2878 1802

Hong Kong Monetary Authority
29 April 2005

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Last revision date: 4 August 2011
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