According to statistics published today (Monday) by the Hong Kong Monetary Authority, total deposits with authorized institutions dropped by 4.9% in June 2006, as a 10.3% decrease in Hong Kong dollar deposits outweighed a 2.1% increase in foreign currency deposits. Within foreign currency deposits, renminbi deposits decreased by 0.6% to RMB22.7 billion yuan in June.
Total loans and advances fell by 5.5% in June, as a decrease of 7.0% in loans for use in Hong Kong more than offset a rise of 7.4% in loans for use outside Hong Kong. Hong Kong dollar loans dropped by 7.3%, but foreign currency loans rose by 1%. As Hong Kong dollar deposits declined proportionally more than Hong Kong dollar loans, the loan-to-deposit ratio increased to 80.9% in June.
On a seasonally adjusted basis, Hong Kong dollar M1 decreased by 0.3% in June and by 2.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 fell by 9.6% and 9.5% respectively during the month, but rose by 13.2% and 13.3% respectively from a year earlier.
For further enquiries, please contact:
Ying-ying Cheng, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Hong Kong Monetary Authority
31 July 2006