Monetary Statistics for July 2005

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased further by 0.6% in July 2005, with Hong Kong dollar and foreign currency deposits rising by 0.7% and 0.4% respectively. Within foreign currency deposits, renminbi deposits amounted to RMB21.9 billion yuan in July, compared with RMB20.9 billion yuan in June.

Total loans and advances were little changed in July, as a 0.6% decline in loans for use in Hong Kong was offset by an increase of 5.6% in loans for use outside Hong Kong. Analysed by currency, foreign currency loans rose, while Hong Kong dollar lending declined. As Hong Kong dollar loans decreased but Hong Kong dollar deposits increased, the loan-to-deposit ratio fell to 85.9% in July.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 0.2% in July, but declined by 3.9% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 grew by 0.7% and 0.8% respectively, and by 9.4% and 9.3% on a year-on-year comparison.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority
31 August 2005

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